Helix Energy Solutions Group (NYSE:HLX) Shares Down 6.3% – Here’s Why

Helix Energy Solutions Group, Inc. (NYSE:HLX)’s share price dropped 6.3% on Tuesday . The company traded as low as $6.64 and last traded at $6.6340. Approximately 240,262 shares traded hands during trading, a decline of 86% from the average daily volume of 1,672,027 shares. The stock had previously closed at $7.08.

Analyst Ratings Changes

Several research firms recently commented on HLX. Zacks Research raised shares of Helix Energy Solutions Group from a “strong sell” rating to a “hold” rating in a report on Thursday, November 20th. Wall Street Zen upgraded Helix Energy Solutions Group from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Cowen reissued a “buy” rating on shares of Helix Energy Solutions Group in a report on Friday, October 24th. TD Cowen lifted their target price on Helix Energy Solutions Group from $11.00 to $12.00 and gave the company a “buy” rating in a report on Friday, October 24th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Helix Energy Solutions Group in a research report on Monday, December 8th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Helix Energy Solutions Group currently has an average rating of “Moderate Buy” and a consensus target price of $10.50.

Helix Energy Solutions Group Trading Down 6.1%

The stock has a market capitalization of $977.35 million, a P/E ratio of 23.73 and a beta of 1.26. The stock’s fifty day moving average price is $6.71 and its two-hundred day moving average price is $6.52. The company has a current ratio of 2.54, a quick ratio of 2.54 and a debt-to-equity ratio of 0.19.

Helix Energy Solutions Group (NYSE:HLX) last posted its quarterly earnings results on Wednesday, October 22nd. The oil and gas company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. Helix Energy Solutions Group had a net margin of 3.25% and a return on equity of 2.75%. The business had revenue of $376.96 million during the quarter, compared to the consensus estimate of $361.93 million. Helix Energy Solutions Group’s quarterly revenue was up 10.1% compared to the same quarter last year. Equities research analysts forecast that Helix Energy Solutions Group, Inc. will post 0.26 EPS for the current year.

Insiders Place Their Bets

In other news, COO Scott Andrew Sparks sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $6.88, for a total value of $275,200.00. Following the transaction, the chief operating officer owned 301,042 shares in the company, valued at approximately $2,071,168.96. This trade represents a 11.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.37% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in Helix Energy Solutions Group by 7.4% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,953 shares of the oil and gas company’s stock worth $162,000 after buying an additional 1,781 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Helix Energy Solutions Group by 6.5% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 31,179 shares of the oil and gas company’s stock valued at $195,000 after purchasing an additional 1,912 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Helix Energy Solutions Group by 43.1% during the first quarter. Smartleaf Asset Management LLC now owns 7,053 shares of the oil and gas company’s stock valued at $59,000 after purchasing an additional 2,123 shares in the last quarter. Corient Private Wealth LLC raised its holdings in Helix Energy Solutions Group by 10.0% in the second quarter. Corient Private Wealth LLC now owns 24,104 shares of the oil and gas company’s stock worth $150,000 after purchasing an additional 2,183 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Helix Energy Solutions Group by 6.9% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,570 shares of the oil and gas company’s stock valued at $228,000 after buying an additional 2,354 shares during the period. 91.33% of the stock is owned by hedge funds and other institutional investors.

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.