Helix Energy Solutions Group (NYSE:HLX) Shares Gap Up Following Earnings Beat

Helix Energy Solutions Group, Inc. (NYSE:HLX) shares 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 traded.

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

Analyst Ratings Changes

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

Insider Buying and Selling

In other Helix Energy Solutions Group news, COO Scott Andrew Sparks sold 170,000 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $9.87, for a total transaction of $1,677,900.00. Following the sale, the chief operating officer now directly owns 112,634 shares of the company’s stock, valued at $1,111,697.58. The trade was a 60.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kenneth English Neikirk sold 83,991 shares of the 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 completion of the sale, the executive vice president now owns 104,549 shares of the company’s stock, valued at $958,714.33. The trade was a 44.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 269,991 shares of company stock worth $2,607,137 in the last three months. 6.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HLX. Creative Planning purchased a new position in Helix Energy Solutions Group during the third quarter valued at approximately $187,000. Allspring Global Investments Holdings LLC increased its stake in shares of Helix Energy Solutions Group by 21.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 27,962 shares of the oil and gas company’s stock worth $310,000 after acquiring an additional 5,013 shares during the last quarter. Semanteon Capital Management LP purchased a new stake in shares of Helix Energy Solutions Group during the third quarter worth $628,000. US Bancorp DE raised its holdings in shares of Helix Energy Solutions Group by 31.3% during the third quarter. US Bancorp DE now owns 49,512 shares of the oil and gas company’s stock worth $550,000 after acquiring an additional 11,804 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Helix Energy Solutions Group by 38.6% during the third quarter. Principal Financial Group Inc. now owns 2,064,809 shares of the oil and gas company’s stock valued at $22,919,000 after purchasing an additional 575,450 shares during the last quarter. 91.33% of the stock is owned by institutional investors and hedge funds.

Helix Energy Solutions Group Stock Up 9.5 %

The business has a 50 day simple moving average of $8.68 and a 200 day simple moving average of $9.72. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.29 and a quick ratio of 2.29. The stock has a market cap of $1.31 billion, a PE ratio of 214.93 and a beta of 2.43.

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.