Helix Energy Solutions Group (NYSE:HLX) Shares Gap Up After Better-Than-Expected Earnings

Helix Energy Solutions Group, Inc. (NYSE:HLX)’s share price gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $7.85, but opened at $8.51. Helix Energy Solutions Group shares last traded at $8.44, with a volume of 297,244 shares trading hands.

The oil and gas company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.04. The business had revenue of $355.13 million for the quarter, compared to analyst estimates of $311.66 million. Helix Energy Solutions Group had a return on equity of 4.39% and a net margin of 0.54%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Helix Energy Solutions Group from a “sell” rating to a “hold” rating in a report on Wednesday, December 4th.

Insider Activity

In other news, EVP Kenneth English Neikirk sold 83,991 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $9.17, for a total value of $770,197.47. Following the transaction, the executive vice president now owns 104,549 shares of the company’s stock, valued at approximately $958,714.33. This trade represents a 44.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Scott Andrew Sparks sold 170,000 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $9.87, for a total transaction of $1,677,900.00. Following the completion of the transaction, the chief operating officer now owns 112,634 shares in the company, valued at $1,111,697.58. This represents a 60.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 269,991 shares of company stock worth $2,607,137 over the last 90 days. 6.37% of the stock is currently owned by corporate insiders.

Institutional Trading of Helix Energy Solutions Group

Several institutional investors have recently added to or reduced their stakes in HLX. Assetmark Inc. acquired a new position in shares of Helix Energy Solutions Group during the third quarter valued at $33,000. Sunbelt Securities Inc. acquired a new stake in Helix Energy Solutions Group in the fourth quarter worth approximately $34,000. Smartleaf Asset Management LLC boosted its position in shares of Helix Energy Solutions Group by 143.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,930 shares of the oil and gas company’s stock valued at $45,000 after purchasing an additional 2,902 shares in the last quarter. Quarry LP increased its holdings in shares of Helix Energy Solutions Group by 79.8% in the fourth quarter. Quarry LP now owns 4,776 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 2,120 shares in the last quarter. Finally, Millburn Ridgefield Corp acquired a new position in shares of Helix Energy Solutions Group in the 3rd quarter worth $61,000. Institutional investors own 91.33% of the company’s stock.

Helix Energy Solutions Group Price Performance

The stock has a 50-day moving average of $8.69 and a two-hundred day moving average of $9.74. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 209.35 and a beta of 2.43. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.19.

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.