Helix Energy Solutions Group (NYSE:HLX) Trading Down 6.3% – Should You Sell?

by · The Cerbat Gem

Helix Energy Solutions Group, Inc. (NYSE:HLX – Get Free Report)’s stock price dropped 6.3% during mid-day trading on Wednesday . The stock traded as low as $9.48 and last traded at $9.4750. Approximately 632,023 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 2,014,643 shares. The stock had previously closed at $10.11.

Analysts Set New Price Targets

HLX has been the subject of several research reports. Weiss Ratings lowered shares of Helix Energy Solutions Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 27th. TD Cowen upped their target price on shares of Helix Energy Solutions Group from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $11.50.

Read Our Latest Stock Report on Helix Energy Solutions Group

Helix Energy Solutions Group Trading Down 5.9%

The firm’s 50-day simple moving average is $9.80 and its 200-day simple moving average is $8.32. The company has a quick ratio of 2.92, a current ratio of 2.92 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $1.40 billion, a PE ratio of 95.15 and a beta of 1.16.

Helix Energy Solutions Group (NYSE:HLX – Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.09) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.09). Helix Energy Solutions Group had a net margin of 1.10% and a return on equity of 1.82%. The business had revenue of $287.95 million during the quarter, compared to analyst estimates of $260.89 million. Helix Energy Solutions Group’s revenue was up 3.6% on a year-over-year basis. Equities analysts expect that Helix Energy Solutions Group, Inc. will post 0.33 earnings per share for the current year.

Institutional Trading of Helix Energy Solutions Group

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in Helix Energy Solutions Group during the fourth quarter valued at about $27,000. Royal Bank of Canada boosted its position in Helix Energy Solutions Group by 175.9% during the fourth quarter. Royal Bank of Canada now owns 6,993 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 4,458 shares during the period. Drucker Wealth 3.0 LLC bought a new position in shares of Helix Energy Solutions Group during the third quarter valued at about $66,000. State of Wyoming raised its stake in shares of Helix Energy Solutions Group by 357.7% during the first quarter. State of Wyoming now owns 10,449 shares of the oil and gas company’s stock valued at $103,000 after acquiring an additional 8,166 shares during the last quarter. Finally, Ballentine Partners LLC bought a new position in shares of Helix Energy Solutions Group during the third quarter valued at about $70,000. 91.33% of the stock is currently owned by hedge funds and other institutional investors.

About Helix Energy Solutions Group

(Get Free Report)

Helix Energy Solutions Group, Inc (NYSE: HLX) is a Houston-based provider of offshore well intervention and robotics services to the global energy industry. The company specializes in extending the productive life of subsea wells through hydraulic workover systems, coiled tubing operations and riser-based wireline services. In addition, Helix offers remotely operated vehicle (ROV) support, inspection, maintenance and repair for subsea infrastructure.

Operating through three core business segments—Well Intervention, Robotics & Subsea Services and Production Facilities—Helix deploys purpose-built vessels, specialized equipment and engineering expertise to execute complex offshore projects.

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