Helix Energy Solutions Group (NYSE:HLX) Trading Down 6.3% – Here’s What Happened

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

Analysts Set New Price Targets

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

Helix Energy Solutions Group Trading Down 6.1%

The firm has a market capitalization of $977.35 million, a P/E ratio of 23.73 and a beta of 1.26. The company has a current ratio of 2.54, a quick ratio of 2.54 and a debt-to-equity ratio of 0.19. The stock has a 50 day simple moving average of $6.71 and a 200-day simple moving average of $6.52.

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

Insider Buying and Selling

In related news, COO Scott Andrew Sparks sold 40,000 shares of Helix Energy Solutions Group stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $6.88, for a total transaction of $275,200.00. Following the transaction, the chief operating officer directly owned 301,042 shares in the company, valued at approximately $2,071,168.96. The trade was a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.37% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in Helix Energy Solutions Group by 7.4% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,953 shares of the oil and gas company’s stock worth $162,000 after acquiring an additional 1,781 shares in the last quarter. Police & Firemen s Retirement System of New Jersey increased its stake in 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 worth $195,000 after acquiring an additional 1,912 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Helix Energy Solutions Group by 43.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 7,053 shares of the oil and gas company’s stock valued at $59,000 after acquiring an additional 2,123 shares during the last quarter. Corient Private Wealth LLC grew its holdings in shares of 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 valued at $150,000 after purchasing an additional 2,183 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Helix Energy Solutions Group by 6.9% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,570 shares of the oil and gas company’s stock worth $228,000 after purchasing an additional 2,354 shares during the last quarter. 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.