Helix Energy Solutions Group (NYSE:HLX) Reaches New 12-Month Low – What’s Next?

Helix Energy Solutions Group, Inc. (NYSE:HLX)’s stock price hit a new 52-week low on Friday . The stock traded as low as $8.77 and last traded at $8.85, with a volume of 670972 shares changing hands. The stock had previously closed at $9.05.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HLX. BTIG Research downgraded Helix Energy Solutions Group from a “buy” rating to a “neutral” rating in a research report on Thursday, October 24th. Raymond James assumed 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 raised shares of Helix Energy Solutions Group from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th. Finally, TD Cowen dropped 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 report on Friday, October 25th.

Helix Energy Solutions Group Stock Down 2.2 %

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

Helix Energy Solutions Group (NYSE:HLX) last released its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The company had revenue of $342.42 million during the quarter, compared to the consensus estimate 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 EPS. On average, equities analysts anticipate that Helix Energy Solutions Group, Inc. will post 0.29 EPS for the current year.

Insider Buying and Selling at Helix Energy Solutions Group

In related news, Director Diana Glassman sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $9.94, for a total value of $159,040.00. Following the completion of the sale, the director now owns 26,133 shares of the company’s stock, valued at $259,762.02. This trade represents a 37.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kenneth English Neikirk sold 83,991 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $9.17, for a total transaction of $770,197.47. Following the completion of the transaction, the executive vice president now owns 104,549 shares of the company’s stock, valued at $958,714.33. This trade represents a 44.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 269,991 shares of company stock worth $2,607,137 over the last ninety days. Corporate insiders own 6.37% of the company’s stock.

Institutional Investors Weigh In On Helix Energy Solutions Group

Several hedge funds and other institutional investors have recently made changes to their positions in HLX. Arizona State Retirement System grew its holdings in Helix Energy Solutions Group by 3.0% during the 2nd quarter. Arizona State Retirement System now owns 40,535 shares of the oil and gas company’s stock worth $484,000 after acquiring an additional 1,187 shares during the period. Choreo LLC bought a new position in shares of Helix Energy Solutions Group in the 2nd quarter worth $250,000. Texas Permanent School Fund Corp grew its stake in shares of Helix Energy Solutions Group by 18.1% during the second quarter. Texas Permanent School Fund Corp now owns 146,429 shares of the oil and gas company’s stock worth $1,748,000 after purchasing an additional 22,442 shares during the period. American Century Companies Inc. grew its stake in shares of Helix Energy Solutions Group by 24.9% during the second quarter. American Century Companies Inc. now owns 3,413,435 shares of the oil and gas company’s stock worth $40,756,000 after purchasing an additional 680,635 shares during the period. Finally, Meeder Advisory Services Inc. increased its holdings in Helix Energy Solutions Group by 9.5% in the second quarter. Meeder Advisory Services Inc. now owns 16,618 shares of the oil and gas company’s stock valued at $198,000 after purchasing an additional 1,445 shares during the last quarter. 91.33% of the stock is owned by institutional investors and hedge funds.

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.