Helix Energy Solutions Group (NYSE:HLX) Downgraded to Sell Rating by StockNews.com

Helix Energy Solutions Group (NYSE:HLX) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Several other equities analysts have also recently issued reports on HLX. Raymond James initiated coverage on 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. TD Cowen cut their price objective on Helix Energy Solutions Group from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Finally, BTIG Research lowered 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 Stock Performance

HLX stock traded down $0.12 during trading on Tuesday, hitting $10.82. The company had a trading volume of 919,575 shares, compared to its average volume of 1,814,948. The firm has a 50-day moving average price of $10.26 and a 200-day moving average price of $10.82. 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 firm has a market cap of $1.65 billion, a PE ratio of 270.50 and a beta of 2.43. Helix Energy Solutions Group has a 1-year low of $8.82 and a 1-year high of $13.05.

Helix Energy Solutions Group (NYSE:HLX) last issued its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. The firm had revenue of $342.42 million during the quarter, compared to the consensus estimate 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 company earned $0.19 earnings per share. On average, analysts expect that Helix Energy Solutions Group will post 0.29 earnings per share for the current year.

Insiders Place Their Bets

In other Helix Energy Solutions Group news, CEO Owen E. Kratz sold 298,419 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $11.92, for a total transaction of $3,557,154.48. Following the sale, the chief executive officer now owns 7,171,860 shares in the company, valued at approximately $85,488,571.20. This represents a 3.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.37% of the stock is owned by company insiders.

Institutional Investors Weigh In On Helix Energy Solutions Group

Several hedge funds have recently modified their holdings of HLX. Assetmark Inc. acquired a new position in Helix Energy Solutions Group in the third quarter valued at $33,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Helix Energy Solutions Group in the second quarter valued at approximately $45,000. Millburn Ridgefield Corp purchased a new position in Helix Energy Solutions Group during the third quarter worth approximately $61,000. GAMMA Investing LLC boosted its holdings in shares of Helix Energy Solutions Group by 24.0% in the 2nd quarter. GAMMA Investing LLC now owns 6,379 shares of the oil and gas company’s stock valued at $76,000 after purchasing an additional 1,236 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Helix Energy Solutions Group by 10.4% during the 2nd quarter. CWM LLC now owns 9,043 shares of the oil and gas company’s stock valued at $108,000 after buying an additional 850 shares during the period. 91.33% of the stock is 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.