Helix Energy Solutions Group (NYSE:HLX) Hits New 52-Week Low – Time to Sell?

Helix Energy Solutions Group, Inc. (NYSE:HLX)’s share price reached a new 52-week low on Friday . The stock traded as low as $8.81 and last traded at $9.13, with a volume of 225832 shares traded. The stock had previously closed at $9.02.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HLX. BTIG Research cut Helix Energy Solutions Group from a “buy” rating to a “neutral” rating in a research note on Thursday, October 24th. TD Cowen reduced their price target on Helix Energy Solutions Group from $16.00 to $15.00 and set a “buy” rating for the company in a report on Friday, October 25th. Raymond James initiated coverage on shares of Helix Energy Solutions Group in a research note on Thursday, September 19th. They issued a “strong-buy” rating and a $14.00 price target on the stock. Finally, StockNews.com upgraded shares of Helix Energy Solutions Group from a “sell” rating to a “hold” rating in a research note on Wednesday, December 4th.

Helix Energy Solutions Group Trading Up 0.1 %

The firm has a market capitalization of $1.37 billion, a PE ratio of 225.81 and a beta of 2.45. The firm has a 50 day simple moving average of $10.04 and a 200 day simple moving average of $10.64. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.19.

Helix Energy Solutions Group (NYSE:HLX) last announced its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.19 earnings per share (EPS) 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 firm had revenue of $342.42 million for the quarter, compared to the consensus estimate of $354.74 million. During the same period in the prior year, the company posted $0.19 earnings per share. Equities analysts expect that Helix Energy Solutions Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Scott Andrew Sparks sold 170,000 shares of Helix Energy Solutions Group stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $9.87, for a total value of $1,677,900.00. Following the completion of the sale, the chief operating officer now owns 112,634 shares of the company’s stock, valued at $1,111,697.58. The trade was a 60.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Diana Glassman sold 16,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $9.94, for a total value of $159,040.00. Following the sale, the director now owns 26,133 shares of the company’s stock, valued at approximately $259,762.02. This trade represents a 37.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 484,419 shares of company stock valued at $5,394,094 in the last 90 days. 6.37% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Helix Energy Solutions Group

Large investors have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of Helix Energy Solutions Group by 38.6% in the 3rd 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 increased its holdings 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 valued at $36,492,000 after buying an additional 25,432 shares during the last quarter. Barclays PLC raised its position in Helix Energy Solutions Group by 269.0% in the third quarter. Barclays PLC now owns 306,482 shares of the oil and gas company’s stock worth $3,402,000 after acquiring an additional 223,432 shares during the period. EP Wealth Advisors LLC purchased a new position in shares of Helix Energy Solutions Group during the 3rd quarter worth $273,000. Finally, Jane Street Group LLC grew 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 valued at $3,394,000 after acquiring an additional 209,311 shares during the period. 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.