JPMorgan Chase & Co. Lowers Stock Position in Helix Energy Solutions Group, Inc. (NYSE:HLX)

JPMorgan Chase & Co. trimmed its holdings in shares of Helix Energy Solutions Group, Inc. (NYSE:HLX) by 16.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 610,379 shares of the oil and gas company’s stock after selling 122,152 shares during the period. JPMorgan Chase & Co.’s holdings in Helix Energy Solutions Group were worth $6,775,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Assetmark Inc. acquired a new stake in shares of Helix Energy Solutions Group in the third quarter valued at about $33,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Helix Energy Solutions Group during the 2nd quarter valued at approximately $45,000. Millburn Ridgefield Corp purchased a new stake in shares of Helix Energy Solutions Group during the 3rd quarter worth approximately $61,000. GAMMA Investing LLC grew its holdings in shares of Helix Energy Solutions Group by 21.1% in the 3rd quarter. GAMMA Investing LLC now owns 7,722 shares of the oil and gas company’s stock worth $86,000 after acquiring an additional 1,343 shares during the period. Finally, Paloma Partners Management Co purchased a new position in Helix Energy Solutions Group in the 3rd quarter valued at approximately $130,000. 91.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Activity at Helix Energy Solutions Group

In related news, Director Diana Glassman sold 16,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 26,133 shares of the company’s stock, valued at approximately $259,762.02. This trade represents a 37.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Scott Andrew Sparks sold 170,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, 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 have sold 269,991 shares of company stock valued at $2,607,137. Company insiders own 6.37% of the company’s stock.

Helix Energy Solutions Group Stock Down 0.4 %

Shares of NYSE:HLX opened at $8.95 on Thursday. The company has a market capitalization of $1.36 billion, a P/E ratio of 223.81 and a beta of 2.46. The stock’s fifty day simple moving average is $9.85 and its 200-day simple moving average is $10.44. Helix Energy Solutions Group, Inc. has a 52-week low of $8.64 and a 52-week high of $13.05. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.19.

Helix Energy Solutions Group (NYSE:HLX) last released its 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. The company had revenue of $342.42 million for the quarter, compared to analyst estimates 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 period in the prior year, the firm earned $0.19 EPS. As a group, equities research analysts forecast that Helix Energy Solutions Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Helix Energy Solutions Group 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.