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

StockNews.com lowered shares of Helix Energy Solutions Group (NYSE:HLX) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

HLX has been the topic of a number of other reports. Raymond James initiated coverage on shares of Helix Energy Solutions Group in a research note on Thursday, September 19th. They issued a “strong-buy” rating and a $14.00 price objective on the stock. BTIG Research cut shares of Helix Energy Solutions Group from a “buy” rating to a “neutral” rating in a research note on Thursday, October 24th. Finally, TD Cowen decreased their price objective on shares of Helix Energy Solutions Group from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, October 25th.

Helix Energy Solutions Group Stock Down 1.1 %

Shares of HLX opened at $10.82 on Tuesday. Helix Energy Solutions Group has a 12 month low of $8.82 and a 12 month high of $13.05. The firm’s 50 day moving average is $10.26 and its 200-day moving average is $10.82. The stock has a market capitalization of $1.65 billion, a PE ratio of 270.50 and a beta of 2.43. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.19.

Helix Energy Solutions Group (NYSE:HLX) last announced its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. The company had revenue of $342.42 million for the quarter, compared to analysts’ expectations of $354.74 million. Helix Energy Solutions Group had a net margin of 0.54% and a return on equity of 4.39%. During the same period last year, the firm earned $0.19 earnings per share. Equities research analysts forecast that Helix Energy Solutions Group will post 0.29 EPS 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 business’s stock in a transaction on Thursday, October 3rd. The shares were 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 of the company’s stock, valued at approximately $85,488,571.20. The trade was a 3.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 6.37% of the company’s stock.

Institutional Trading of Helix Energy Solutions Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Assetmark Inc. acquired a new position in shares of Helix Energy Solutions Group during the third quarter worth $33,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Helix Energy Solutions Group during the second quarter worth $45,000. Millburn Ridgefield Corp acquired a new position in shares of Helix Energy Solutions Group during the third quarter worth $61,000. GAMMA Investing LLC lifted its holdings in shares of Helix Energy Solutions Group by 24.0% during the second quarter. GAMMA Investing LLC now owns 6,379 shares of the oil and gas company’s stock worth $76,000 after purchasing an additional 1,236 shares during the period. Finally, CWM LLC lifted its holdings in shares of Helix Energy Solutions Group by 10.4% during the second quarter. CWM LLC now owns 9,043 shares of the oil and gas company’s stock worth $108,000 after purchasing an additional 850 shares during the period. Institutional investors own 91.33% of the company’s stock.

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.