Helix Energy Solutions Group (NYSE:HLX) Sets New 1-Year Low – Here’s Why

Shares of Helix Energy Solutions Group, Inc. (NYSE:HLX) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $8.77 and last traded at $8.85, with a volume of 670972 shares trading hands. The stock had previously closed at $9.05.

Analysts Set New Price Targets

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

Helix Energy Solutions Group Price Performance

The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 218.30 and a beta of 2.46. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.19. The stock’s 50 day moving average price is $9.89 and its two-hundred day moving average price is $10.49.

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

Insiders Place Their Bets

In related news, COO Scott Andrew Sparks sold 170,000 shares of the business’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 value of $1,677,900.00. Following the completion of the sale, the chief operating officer now directly owns 112,634 shares in the company, valued at approximately $1,111,697.58. The trade was a 60.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kenneth English Neikirk sold 83,991 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $9.17, for a total transaction of $770,197.47. Following the transaction, the executive vice president now directly owns 104,549 shares of the company’s stock, valued at approximately $958,714.33. This represents a 44.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 269,991 shares of company stock valued at $2,607,137 over the last ninety days. Corporate insiders own 6.37% of the company’s stock.

Institutional Trading of Helix Energy Solutions Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Diversified Trust Co boosted its position in shares of Helix Energy Solutions Group by 2.1% during the 3rd quarter. Diversified Trust Co now owns 49,348 shares of the oil and gas company’s stock valued at $548,000 after acquiring an additional 1,005 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Helix Energy Solutions Group by 3.0% in the 2nd quarter. Arizona State Retirement System now owns 40,535 shares of the oil and gas company’s stock valued at $484,000 after purchasing an additional 1,187 shares during the period. GAMMA Investing LLC raised 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 buying an additional 1,343 shares in the last quarter. Meeder Advisory Services Inc. lifted its position in shares of Helix Energy Solutions Group by 9.5% during the 2nd quarter. Meeder Advisory Services Inc. now owns 16,618 shares of the oil and gas company’s stock worth $198,000 after buying an additional 1,445 shares during the period. Finally, Doheny Asset Management CA boosted its stake in Helix Energy Solutions Group by 1.8% in the 2nd quarter. Doheny Asset Management CA now owns 164,584 shares of the oil and gas company’s stock valued at $1,965,000 after buying an additional 2,964 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.