Helix Energy Solutions Group (NYSE:HLX) Trading Down 2.7% – Here’s Why

Helix Energy Solutions Group, Inc. (NYSE:HLX) was 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 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 Analysts Forecast Growth

A number of brokerages 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. StockNews.com raised shares of Helix Energy Solutions Group from a “sell” rating to a “hold” rating in a research report on Wednesday, December 4th. BTIG Research downgraded shares of Helix Energy Solutions Group from a “buy” rating to a “neutral” rating in a report on Thursday, October 24th. 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 current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $9.94 and a 200-day simple moving average of $10.61. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 229.06 and a beta of 2.45.

Helix Energy Solutions Group (NYSE:HLX) last announced its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. The business had revenue of $342.42 million for the quarter, compared to the consensus estimate of $354.74 million. Helix Energy Solutions Group had a net margin of 0.54% and a return on equity of 4.39%. During the same quarter last year, the company posted $0.19 earnings per share. As a group, equities research analysts expect that Helix Energy Solutions Group, Inc. will post 0.29 EPS for the current year.

Insider Transactions at Helix Energy Solutions Group

In other Helix Energy Solutions Group news, Director Diana Glassman sold 16,000 shares of Helix Energy Solutions Group stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $9.94, for a total transaction of $159,040.00. Following the sale, the director now owns 26,133 shares in the company, valued at $259,762.02. The trade was a 37.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Owen E. Kratz sold 298,419 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $11.92, for a total transaction of $3,557,154.48. Following the completion of the sale, the chief executive officer now directly owns 7,171,860 shares in the company, valued at $85,488,571.20. This trade represents a 3.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 484,419 shares of company stock worth $5,394,094. 6.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its holdings 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 buying an additional 575,450 shares in the last quarter. Geode Capital Management LLC boosted its stake in Helix Energy Solutions Group by 0.8% in the 3rd 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 in the last quarter. Barclays PLC grew 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 valued at $3,402,000 after acquiring an additional 223,432 shares during the period. EP Wealth Advisors LLC acquired a new position in Helix Energy Solutions Group during the third quarter worth $273,000. Finally, Jane Street Group LLC lifted its holdings in shares of Helix Energy Solutions Group by 217.0% during the third 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. Institutional investors 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.