Helix Energy Solutions Group (NYSE:HLX) Stock Rating Lowered by StockNews.com

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

Several other research firms have also recently commented on HLX. BTIG Research cut Helix Energy Solutions Group from a “buy” rating to a “neutral” rating in a research report on Thursday, October 24th. Raymond James initiated coverage on Helix Energy Solutions Group in a research report on Thursday, September 19th. They issued a “strong-buy” rating and a $14.00 target price on the stock. Finally, TD Cowen lowered their target price 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 Stock Down 1.0 %

Shares of Helix Energy Solutions Group stock opened at $10.69 on Tuesday. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.19. The business’s 50 day simple moving average is $10.31 and its 200-day simple moving average is $10.81. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 267.25 and a beta of 2.43. Helix Energy Solutions Group has a twelve month low of $8.82 and a twelve month high of $13.05.

Helix Energy Solutions Group (NYSE:HLX) last announced its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $342.42 million for the quarter, compared to analysts’ expectations of $354.74 million. During the same period in the prior year, the firm earned $0.19 EPS. Equities research analysts forecast that Helix Energy Solutions Group will post 0.29 earnings per share for the current year.

Insider Activity

In other news, CEO Owen E. Kratz sold 298,419 shares of Helix Energy Solutions Group 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 transaction, the chief executive officer now directly owns 7,171,860 shares in the company, valued at approximately $85,488,571.20. This trade represents a 3.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.37% of the stock is owned by insiders.

Hedge Funds Weigh In On Helix Energy Solutions Group

Hedge funds have recently modified their holdings of the company. Assetmark Inc. bought a new stake in shares of Helix Energy Solutions Group during the 3rd quarter worth $33,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Helix Energy Solutions Group during the 2nd quarter worth $45,000. Millburn Ridgefield Corp bought a new stake in shares of Helix Energy Solutions Group during the 3rd quarter worth $61,000. GAMMA Investing LLC boosted its stake in shares of Helix Energy Solutions Group by 24.0% during the 2nd quarter. GAMMA Investing LLC now owns 6,379 shares of the oil and gas company’s stock worth $76,000 after acquiring an additional 1,236 shares in the last quarter. Finally, CWM LLC boosted 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 worth $108,000 after acquiring an additional 850 shares in the last quarter. 91.33% of the stock is currently 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.