Helix Energy Solutions Group, Inc. (HLX) Stock Price Down 2.8% Following Insider Selling

Helix Energy Solutions Group, Inc. (NYSE:HLX) fell 2.8% on Monday after an insider sold shares in the company. The stock traded as low as $6.86 and last traded at $7.25. 1,217,400 shares changed hands during trading, a decline of 41% from the average session volume of 2,070,633 shares. The stock had previously closed at $7.46.

Specifically, COO Scott Andrew Sparks sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $6.75, for a total value of $67,500.00. Following the transaction, the chief operating officer now directly owns 151,530 shares in the company, valued at approximately $1,022,827.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Anthony Tripodo sold 6,466 shares of the firm’s stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $6.92, for a total value of $44,744.72. Following the completion of the transaction, the executive vice president now owns 318,937 shares in the company, valued at $2,207,044.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,734 shares of company stock worth $196,079. Company insiders own 5.70% of the company’s stock.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Helix Energy Solutions Group from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. BidaskClub downgraded Helix Energy Solutions Group from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Cowen and Company restated an “outperform” rating and issued a $9.00 price target (down from $10.00) on shares of Helix Energy Solutions Group in a research note on Tuesday, July 25th. Capital One Financial Corporation restated an “overweight” rating on shares of Helix Energy Solutions Group in a research note on Tuesday, October 10th. Finally, Piper Jaffray Companies downgraded Helix Energy Solutions Group from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $7.00 to $7.30 in a research note on Wednesday, September 27th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Helix Energy Solutions Group presently has a consensus rating of “Hold” and an average price target of $9.33.

The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 0.26.

Helix Energy Solutions Group (NYSE:HLX) last announced its earnings results on Monday, October 23rd. The oil and gas company reported $0.02 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.02. Helix Energy Solutions Group had a negative return on equity of 1.80% and a negative net margin of 13.72%. The company had revenue of $163.30 million for the quarter, compared to analysts’ expectations of $168.97 million. During the same period last year, the firm earned $0.10 EPS. Helix Energy Solutions Group’s revenue for the quarter was up 1.2% compared to the same quarter last year. equities research analysts predict that Helix Energy Solutions Group, Inc. will post -0.13 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the business. BlueCrest Capital Management Ltd raised its holdings in Helix Energy Solutions Group by 120.2% during the second quarter. BlueCrest Capital Management Ltd now owns 674,578 shares of the oil and gas company’s stock valued at $3,805,000 after acquiring an additional 368,282 shares during the period. William Blair Investment Management LLC raised its holdings in Helix Energy Solutions Group by 1.3% during the second quarter. William Blair Investment Management LLC now owns 1,286,000 shares of the oil and gas company’s stock valued at $7,253,000 after acquiring an additional 16,187 shares during the period. Amalgamated Bank raised its holdings in Helix Energy Solutions Group by 16.3% during the first quarter. Amalgamated Bank now owns 17,744 shares of the oil and gas company’s stock valued at $138,000 after acquiring an additional 2,489 shares during the period. Wedbush Securities Inc. raised its holdings in Helix Energy Solutions Group by 109.9% during the second quarter. Wedbush Securities Inc. now owns 46,600 shares of the oil and gas company’s stock valued at $263,000 after acquiring an additional 24,400 shares during the period. Finally, Citigroup Inc. raised its holdings in Helix Energy Solutions Group by 111.7% during the second quarter. Citigroup Inc. now owns 171,962 shares of the oil and gas company’s stock valued at $970,000 after acquiring an additional 90,744 shares during the period. 87.13% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION WARNING: “Helix Energy Solutions Group, Inc. (HLX) Stock Price Down 2.8% Following Insider Selling” was reported by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this news story on another publication, it was copied illegally and republished in violation of international copyright law. The original version of this news story can be viewed at https://sportsperspectives.com/2017/11/15/helix-energy-solutions-group-inc-hlx-stock-price-down-2-8-following-insider-selling.html.

About Helix Energy Solutions Group

Helix Energy Solutions Group, Inc is an international offshore energy services company. The Company provides services to the offshore energy industry, with a focus on well intervention and robotics operations. The Company operates in three segments: Well Intervention, Robotics and Production Facilities.

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