Helix Energy Solutions Group (NYSE:HLX) Hits New 1-Year Low – Here’s What Happened

Helix Energy Solutions Group, Inc. (NYSE:HLX)’s share price hit 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 traded. The stock had previously closed at $9.05.

Wall Street Analysts Forecast Growth

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

Helix Energy Solutions Group Price Performance

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 company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 218.30 and a beta of 2.46. The stock’s 50-day moving average price is $9.89 and its 200-day moving average price is $10.49.

Helix Energy Solutions Group (NYSE:HLX) last released its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The company had revenue of $342.42 million during the quarter, compared to analysts’ expectations 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 firm earned $0.19 EPS. Equities research analysts anticipate that Helix Energy Solutions Group, Inc. will post 0.29 earnings per share for the current year.

Insider Buying and Selling at Helix Energy Solutions Group

In related news, Director Diana Glassman sold 16,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $9.94, for a total value of $159,040.00. Following the completion of the sale, the director now owns 26,133 shares in the company, valued at approximately $259,762.02. This represents a 37.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Kenneth English Neikirk sold 83,991 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $9.17, for a total value of $770,197.47. Following the transaction, the executive vice president now owns 104,549 shares of the company’s stock, valued at $958,714.33. The trade was a 44.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 269,991 shares of company stock worth $2,607,137. Company insiders own 6.37% of the company’s stock.

Institutional Investors Weigh In On Helix Energy Solutions Group

Several hedge funds have recently bought and sold shares of the company. Assetmark Inc. bought a new stake in shares of Helix Energy Solutions Group in the 3rd quarter valued at $33,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Helix Energy Solutions Group in the second quarter worth about $45,000. Millburn Ridgefield Corp acquired a new stake in shares of Helix Energy Solutions Group during the third quarter worth about $61,000. GAMMA Investing LLC lifted its holdings in shares of Helix Energy Solutions Group by 21.1% during the 3rd quarter. GAMMA Investing LLC now owns 7,722 shares of the oil and gas company’s stock valued at $86,000 after purchasing an additional 1,343 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new position in shares of Helix Energy Solutions Group in the 3rd quarter valued at approximately $130,000. 91.33% of the stock is currently owned by institutional investors and hedge funds.

About Helix Energy Solutions Group

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.