Helix Energy Solutions Group (NYSE:HLX) Shares Gap Up After Strong Earnings

Shares of Helix Energy Solutions Group, Inc. (NYSE:HLX) gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $7.85, but opened at $8.51. Helix Energy Solutions Group shares last traded at $8.44, with a volume of 297,244 shares trading hands.

The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.04. The firm had revenue of $355.13 million for the quarter, compared to analysts’ expectations of $311.66 million. Helix Energy Solutions Group had a return on equity of 4.39% and a net margin of 0.54%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Helix Energy Solutions Group from a “sell” rating to a “hold” rating in a research note on Wednesday, December 4th.

Insiders Place Their Bets

In related news, Director Diana Glassman sold 16,000 shares of the business’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 completion of the transaction, the director now directly owns 26,133 shares in the company, valued at $259,762.02. The trade was a 37.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kenneth English Neikirk sold 83,991 shares of the company’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 completion of the transaction, the executive vice president now directly owns 104,549 shares of the company’s stock, valued at $958,714.33. The trade was a 44.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 269,991 shares of company stock worth $2,607,137 over the last 90 days. Company insiders own 6.37% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Assetmark Inc. purchased a new position in Helix Energy Solutions Group in the 3rd quarter valued at $33,000. Sunbelt Securities Inc. acquired a new stake in shares of Helix Energy Solutions Group in the fourth quarter valued at approximately $34,000. Smartleaf Asset Management LLC boosted its stake in Helix Energy Solutions Group by 143.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,930 shares of the oil and gas company’s stock worth $45,000 after buying an additional 2,902 shares during the last quarter. Quarry LP boosted its position in shares of Helix Energy Solutions Group by 79.8% during the 4th quarter. Quarry LP now owns 4,776 shares of the oil and gas company’s stock valued at $45,000 after acquiring an additional 2,120 shares during the last quarter. Finally, Millburn Ridgefield Corp purchased a new stake in shares of Helix Energy Solutions Group in the third quarter valued at about $61,000. 91.33% of the stock is owned by hedge funds and other institutional investors.

Helix Energy Solutions Group Trading Up 6.4 %

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’s 50-day moving average is $8.69 and its 200-day moving average is $9.74. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 209.35 and a beta of 2.43.

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.