Helix Energy Solutions Group (NYSE:HLX) Stock Price Down 4% on Insider Selling

Helix Energy Solutions Group, Inc. (NYSE:HLX)’s stock price fell 4% during trading on Monday after an insider sold shares in the company. The stock traded as low as $10.69 and last traded at $10.72. 366,933 shares changed hands during trading, a decline of 80% from the average session volume of 1,819,257 shares. The stock had previously closed at $11.17.

Specifically, 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 value of $3,557,154.48. Following the sale, the chief executive officer now directly owns 7,171,860 shares in the company, valued at approximately $85,488,571.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HLX. Raymond James began coverage on Helix Energy Solutions Group in a research note on Thursday, September 19th. They issued a “strong-buy” rating and a $14.00 price objective on the stock. TD Cowen increased their price target on Helix Energy Solutions Group from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th.

Helix Energy Solutions Group Stock Performance

The firm has a market capitalization of $1.63 billion, a P/E ratio of -50.76 and a beta of 2.41. The stock has a 50-day moving average of $10.51 and a 200 day moving average of $11.07. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.08 and a current ratio of 2.08.

Helix Energy Solutions Group (NYSE:HLX) last released its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. The business had revenue of $364.80 million for the quarter, compared to analyst estimates of $353.19 million. Helix Energy Solutions Group had a positive return on equity of 4.35% and a negative net margin of 0.49%. During the same period in the prior year, the company earned $0.11 EPS. On average, research analysts anticipate that Helix Energy Solutions Group, Inc. will post 0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Helix Energy Solutions Group in the 2nd quarter valued at $45,000. Pineridge Advisors LLC bought a new position in Helix Energy Solutions Group in the 4th quarter valued at $54,000. GAMMA Investing LLC boosted its position in Helix Energy Solutions Group by 24.0% in the 2nd quarter. GAMMA Investing LLC now owns 6,379 shares of the oil and gas company’s stock valued at $76,000 after buying an additional 1,236 shares during the last quarter. CWM LLC boosted its position in Helix Energy Solutions Group by 10.4% in the 2nd quarter. CWM LLC now owns 9,043 shares of the oil and gas company’s stock valued at $108,000 after buying an additional 850 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of Helix Energy Solutions Group in the 1st quarter valued at $135,000. 91.33% of the stock is currently owned by institutional investors.

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.