Helix Energy Solutions Group (NYSE:HLX) Stock Price Down 1% – Here’s Why

Helix Energy Solutions Group, Inc. (NYSE:HLX) dropped 1% during trading on Wednesday . The company traded as low as $8.30 and last traded at $8.40. Approximately 202,858 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 1,755,575 shares. The stock had previously closed at $8.48.

Wall Street Analyst Weigh In

Separately, 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.

Helix Energy Solutions Group Stock Down 0.8 %

The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.29 and a current ratio of 2.29. The business has a 50 day simple moving average of $8.25 and a 200-day simple moving average of $9.34. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 210.30 and a beta of 2.41.

Helix Energy Solutions Group (NYSE:HLX) last posted its earnings results on Monday, February 24th. 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 company had revenue of $355.13 million during 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%. On average, equities analysts expect that Helix Energy Solutions Group, Inc. will post 0.26 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in Helix Energy Solutions Group by 18.3% during the 4th quarter. Principal Financial Group Inc. now owns 2,443,203 shares of the oil and gas company’s stock valued at $22,771,000 after acquiring an additional 378,394 shares during the period. Jane Street Group LLC boosted its stake in shares of Helix Energy Solutions Group by 217.0% in the third quarter. Jane Street Group LLC now owns 305,767 shares of the oil and gas company’s stock valued at $3,394,000 after purchasing an additional 209,311 shares during the period. Forge First Asset Management Inc. acquired a new position in shares of Helix Energy Solutions Group in the fourth quarter valued at approximately $5,565,000. Amundi increased its stake in Helix Energy Solutions Group by 191.9% during the 4th quarter. Amundi now owns 89,714 shares of the oil and gas company’s stock worth $812,000 after buying an additional 58,976 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Helix Energy Solutions Group by 69.5% in the 4th quarter. Victory Capital Management Inc. now owns 137,168 shares of the oil and gas company’s stock valued at $1,278,000 after buying an additional 56,234 shares during the period. 91.33% of the stock is currently owned by hedge funds and other institutional investors.

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.