Helix Energy Solutions Group (NYSE:HLX) Reaches New 12-Month Low – Here’s Why

Helix Energy Solutions Group, Inc. (NYSE:HLX)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $7.76 and last traded at $7.92, with a volume of 1377293 shares. The stock had previously closed at $8.02.

Wall Street Analyst Weigh In

HLX has been the topic of several research analyst reports. TD Cowen lowered their price target 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. StockNews.com upgraded Helix Energy Solutions Group from a “sell” rating to a “hold” rating in a research report on Wednesday, December 4th. Finally, 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.

Helix Energy Solutions Group Stock Down 1.3 %

The firm’s 50 day moving average price is $9.32 and its two-hundred day moving average price is $10.09. 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 company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 197.92 and a beta of 2.43.

Insiders Place Their Bets

In related news, EVP Kenneth English Neikirk sold 83,991 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $9.17, for a total transaction of $770,197.47. Following the sale, the executive vice president now owns 104,549 shares in the company, valued at $958,714.33. This represents a 44.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Scott Andrew Sparks sold 170,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $9.87, for a total value of $1,677,900.00. Following the completion of the sale, the chief operating officer now owns 112,634 shares of the company’s stock, valued at approximately $1,111,697.58. This represents a 60.15 % decrease in their ownership of the stock. 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 in the last quarter. Corporate insiders own 6.37% of the company’s stock.

Institutional Trading of Helix Energy Solutions Group

Large investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in Helix Energy Solutions Group by 3.8% in the 3rd quarter. State Street Corp now owns 6,664,257 shares of the oil and gas company’s stock valued at $73,973,000 after purchasing an additional 246,577 shares during the period. Pacer Advisors Inc. lifted its position in Helix Energy Solutions Group by 16.4% in the 4th quarter. Pacer Advisors Inc. now owns 6,546,820 shares of the oil and gas company’s stock worth $61,016,000 after buying an additional 923,477 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Helix Energy Solutions Group by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,286,917 shares of the oil and gas company’s stock valued at $36,492,000 after purchasing an additional 25,432 shares during the last quarter. Systematic Financial Management LP grew its position in Helix Energy Solutions Group by 10.5% during the 3rd quarter. Systematic Financial Management LP now owns 2,480,765 shares of the oil and gas company’s stock worth $27,536,000 after acquiring an additional 236,222 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Helix Energy Solutions Group by 18.3% during the 4th quarter. Principal Financial Group Inc. now owns 2,443,203 shares of the oil and gas company’s stock valued at $22,771,000 after buying an additional 378,394 shares during the period. Hedge funds and other institutional investors own 91.33% of the company’s stock.

About Helix Energy Solutions Group

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.