Helix Energy Solutions Group (NYSE:HLX) Reaches 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 stock 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.

Analysts Set New Price Targets

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

Helix Energy Solutions Group Trading Down 2.2 %

The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $9.90 and a 200-day moving average price of $10.52. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 221.31 and a beta of 2.46.

Helix Energy Solutions Group (NYSE:HLX) last posted its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. Helix Energy Solutions Group had a net margin of 0.54% and a return on equity of 4.39%. The company had revenue of $342.42 million during the quarter, compared to analyst estimates of $354.74 million. During the same quarter last year, the firm posted $0.19 EPS. As a group, sell-side analysts predict that Helix Energy Solutions Group, Inc. will post 0.29 EPS for the current year.

Insider Activity at Helix Energy Solutions Group

In related news, COO Scott Andrew Sparks sold 170,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $9.87, for a total transaction of $1,677,900.00. Following the transaction, the chief operating officer now directly owns 112,634 shares of the company’s stock, valued at approximately $1,111,697.58. The trade was a 60.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kenneth English Neikirk sold 83,991 shares of the firm’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 sale, 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. Insiders sold 269,991 shares of company stock worth $2,607,137 in the last quarter. 6.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Helix Energy Solutions Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its holdings in Helix Energy Solutions Group by 2.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,018,797 shares of the oil and gas company’s stock worth $131,559,000 after purchasing an additional 254,880 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Helix Energy Solutions Group in the second quarter worth $81,862,000. State Street Corp boosted its holdings in shares of Helix Energy Solutions Group by 3.8% during the 3rd quarter. State Street Corp now owns 6,664,257 shares of the oil and gas company’s stock worth $73,973,000 after buying an additional 246,577 shares during the period. American Century Companies Inc. grew its stake in Helix Energy Solutions Group by 24.9% in the 2nd quarter. American Century Companies Inc. now owns 3,413,435 shares of the oil and gas company’s stock valued at $40,756,000 after buying an additional 680,635 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Helix Energy Solutions Group by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,286,917 shares of the oil and gas company’s stock worth $36,492,000 after acquiring an additional 25,432 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.