Hornbeck Offshore Services (NYSE:HOS) Hits New 1-Year Low Following Weak Earnings

Hornbeck Offshore Services, Inc. (NYSE:HOS)’s stock price hit a new 52-week low on Tuesday following a weaker than expected earnings announcement. The company traded as low as $5.15 and last traded at $5.2750, with a volume of 767,294 shares traded. The stock had previously closed at $5.38.

The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.59). Hornbeck Offshore Services had a negative net margin of 5.58% and a positive return on equity of 3.34%. During the same quarter last year, the firm posted $0.28 earnings per share.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Hornbeck Offshore Services from a “buy” rating to a “hold” rating in a research note on Monday.

Hedge Funds Weigh In On Hornbeck Offshore Services

Several institutional investors and hedge funds have recently made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new stake in Hornbeck Offshore Services during the third quarter worth about $15,012,000. Edgestream Partners L.P. bought a new position in Hornbeck Offshore Services in the 3rd quarter valued at about $7,385,000. Royce & Associates LP acquired a new position in shares of Hornbeck Offshore Services in the 3rd quarter valued at approximately $3,703,000. Illinois Municipal Retirement Fund acquired a new position in shares of Hornbeck Offshore Services in the 3rd quarter valued at approximately $617,000. Finally, Nisa Investment Advisors LLC acquired a new position in shares of Hornbeck Offshore Services in the 3rd quarter valued at approximately $542,000. Institutional investors and hedge funds own 91.33% of the company’s stock.

Hornbeck Offshore Services Stock Performance

The company has a fifty day moving average of $7.56. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.47 and a current ratio of 3.47. The stock has a market capitalization of $780.52 million, a P/E ratio of -18.91 and a beta of 1.31.

About Hornbeck Offshore Services

Hornbeck Offshore Services provides marine transportation and support services for the offshore oil and gas industry. Its fleet includes offshore supply vessels and multi-purpose support vessels that carry equipment and supplies, assist with construction and subsea work, and support exploration, development and production activities.

Founded in 1997, the company has focused on serving deepwater and other demanding offshore operations. Its vessels and services support customers in the U.S.