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

Helix Energy Solutions Group, Inc. (NYSE:HLX)’s share price reached a new 52-week low on Thursday . The stock traded as low as $8.61 and last traded at $8.68, with a volume of 114303 shares changing hands. The stock had previously closed at $8.69.

Analysts Set New Price Targets

Several analysts have weighed in on the company. StockNews.com raised Helix Energy Solutions Group from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th. BTIG Research downgraded Helix Energy Solutions Group from a “buy” rating to a “neutral” rating in a research report on Thursday, October 24th. Finally, TD Cowen reduced their price objective on Helix Energy Solutions Group from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, October 25th.

Helix Energy Solutions Group Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.29 and a quick ratio of 2.29. The company has a 50-day moving average price of $9.71 and a 200-day moving average price of $10.33. The firm has a market capitalization of $1.31 billion, a PE ratio of 215.48 and a beta of 2.46.

Helix Energy Solutions Group (NYSE:HLX) last released its 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. Helix Energy Solutions Group had a return on equity of 4.39% and a net margin of 0.54%. The firm had revenue of $342.42 million for the quarter, compared to the consensus estimate of $354.74 million. During the same period in the prior year, the business posted $0.19 earnings per share. Sell-side analysts forecast that Helix Energy Solutions Group, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling

In other news, COO Scott Andrew Sparks sold 170,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $9.87, for a total value of $1,677,900.00. Following the transaction, the chief operating officer now directly owns 112,634 shares in the company, valued at $1,111,697.58. This trade represents a 60.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Diana Glassman sold 16,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $9.94, for a total value of $159,040.00. Following the completion of the transaction, the director now owns 26,133 shares in the company, valued at approximately $259,762.02. This trade represents a 37.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 269,991 shares of company stock worth $2,607,137. 6.37% of the stock is owned by company insiders.

Hedge Funds Weigh In On Helix Energy Solutions Group

A number of large investors have recently modified their holdings of HLX. Assetmark Inc. purchased a new position in shares of Helix Energy Solutions Group in the 3rd quarter worth about $33,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Helix Energy Solutions Group in the 2nd quarter worth about $45,000. Millburn Ridgefield Corp purchased a new position in shares of Helix Energy Solutions Group in the 3rd quarter worth about $61,000. KBC Group NV raised its holdings in shares of Helix Energy Solutions Group by 61.8% in the 4th quarter. KBC Group NV now owns 9,136 shares of the oil and gas company’s stock worth $85,000 after purchasing an additional 3,491 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Helix Energy Solutions Group by 21.1% in the 3rd quarter. GAMMA Investing LLC now owns 7,722 shares of the oil and gas company’s stock worth $86,000 after purchasing an additional 1,343 shares during the period. 91.33% of the stock is currently 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.