Helix Energy Solutions Group (NYSE:HLX) Stock Price Down 2.7% – What’s Next?

Shares of Helix Energy Solutions Group, Inc. (NYSE:HLX) were down 2.7% during trading on Thursday . The company traded as low as $8.93 and last traded at $9.01. Approximately 98,281 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 1,781,667 shares. The stock had previously closed at $9.26.

Wall Street Analyst Weigh In

HLX has been the subject of several analyst reports. BTIG Research downgraded shares of Helix Energy Solutions Group from a “buy” rating to a “neutral” rating in a report on Thursday, October 24th. Raymond James initiated coverage on Helix Energy Solutions Group in a research report on Thursday, September 19th. They issued a “strong-buy” rating and a $14.00 target price on the stock. StockNews.com raised Helix Energy Solutions Group from a “sell” rating to a “hold” rating in a research note on Wednesday, December 4th. Finally, TD Cowen lowered their target price on shares of Helix Energy Solutions Group from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, October 25th.

Helix Energy Solutions Group Price Performance

The company has a market cap of $1.41 billion, a P/E ratio of 231.81 and a beta of 2.45. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.29 and a quick ratio of 2.29. The company has a fifty day simple moving average of $9.99 and a 200-day simple moving average of $10.63.

Helix Energy Solutions Group (NYSE:HLX) last issued its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. Helix Energy Solutions Group had a return on equity of 4.39% and a net margin of 0.54%. The business had revenue of $342.42 million for the quarter, compared to the consensus estimate of $354.74 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. On average, sell-side analysts predict that Helix Energy Solutions Group, Inc. will post 0.29 earnings per share for the current year.

Insider Activity at Helix Energy Solutions Group

In other news, CEO Owen E. Kratz sold 298,419 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $11.92, for a total transaction of $3,557,154.48. Following the completion of the transaction, the chief executive officer now directly owns 7,171,860 shares in the company, valued at $85,488,571.20. The trade was a 3.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Scott Andrew Sparks sold 170,000 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $9.87, for a total transaction of $1,677,900.00. Following the transaction, the chief operating officer now directly owns 112,634 shares in the company, valued at $1,111,697.58. This trade represents a 60.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 484,419 shares of company stock valued at $5,394,094. Insiders own 6.37% of the company’s stock.

Hedge Funds Weigh In On Helix Energy Solutions Group

A number of hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its stake in Helix Energy Solutions Group by 38.6% during the third quarter. Principal Financial Group Inc. now owns 2,064,809 shares of the oil and gas company’s stock worth $22,919,000 after purchasing an additional 575,450 shares during the period. Geode Capital Management LLC raised its stake in Helix Energy Solutions Group by 0.8% during the third quarter. Geode Capital Management LLC now owns 3,286,917 shares of the oil and gas company’s stock worth $36,492,000 after acquiring an additional 25,432 shares in the last quarter. Barclays PLC lifted its holdings in shares of Helix Energy Solutions Group by 269.0% during the third quarter. Barclays PLC now owns 306,482 shares of the oil and gas company’s stock valued at $3,402,000 after acquiring an additional 223,432 shares during the period. EP Wealth Advisors LLC acquired a new stake in shares of Helix Energy Solutions Group in the 3rd quarter valued at $273,000. Finally, Jane Street Group LLC increased its position in shares of Helix Energy Solutions Group by 217.0% during the 3rd quarter. Jane Street Group LLC now owns 305,767 shares of the oil and gas company’s stock worth $3,394,000 after purchasing an additional 209,311 shares in the last quarter. Institutional investors and hedge funds own 91.33% of the company’s stock.

Helix Energy Solutions Group Company Profile

Helix Energy Solutions Group, Inc, together with its subsidiaries, an offshore energy services company, provides specialty services to the offshore energy industry in Brazil, the Gulf of Mexico, the East Coast of the United States, North Sea, the Asia Pacific, and West Africa regions. The company operates through four segments: Well Intervention, Robotics, Production Facilities, and Shallow Water Abandonment segments.