Helix Energy Solutions Group (NYSE:HLX) Stock Price Down 3.9% - Here's What Happened

Helix Energy Solutions Group, Inc. (NYSE:HLX - Get Free Report) was down 3.9% on Thursday . The company traded as low as $5.66 and last traded at $6.35. Approximately 1,264,123 shares changed hands during trading, a decline of 29% from the average daily volume of 1,790,129 shares. The stock had previously closed at $6.61.

Wall Street Analyst Weigh In

Separately, Raymond James cut Helix Energy Solutions Group from a "strong-buy" rating to an "outperform" rating and decreased their price target for the stock from $14.00 to $10.00 in a research note on Friday.

Helix Energy Solutions Group Stock Down 2.4 %

The company has a market capitalization of $930.39 million, a price-to-earnings ratio of 153.54 and a beta of 1.91. 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 firm's 50 day simple moving average is $7.62 and its 200-day simple moving average is $8.81.

Helix Energy Solutions Group (NYSE:HLX - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The oil and gas company reported $0.02 EPS for the quarter, topping analysts' consensus estimates of ($0.05) by $0.07. The firm had revenue of $278.06 million for the quarter, compared to the consensus estimate of $285.06 million. Helix Energy Solutions Group had a net margin of 0.54% and a return on equity of 4.39%. On average, sell-side analysts anticipate that Helix Energy Solutions Group, Inc. will post 0.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Helix Energy Solutions Group

A number of institutional investors have recently added to or reduced their stakes in HLX. CoreCommodity Management LLC raised its stake in shares of Helix Energy Solutions Group by 1.4% in the 4th quarter. CoreCommodity Management LLC now owns 129,776 shares of the oil and gas company's stock valued at $1,210,000 after acquiring an additional 1,780 shares during the period. PNC Financial Services Group Inc. raised its position in Helix Energy Solutions Group by 6.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 33,553 shares of the oil and gas company's stock valued at $313,000 after purchasing an additional 1,950 shares during the period. MetLife Investment Management LLC lifted its stake in shares of Helix Energy Solutions Group by 2.4% during the fourth quarter. MetLife Investment Management LLC now owns 85,270 shares of the oil and gas company's stock worth $795,000 after purchasing an additional 1,995 shares in the last quarter. Pacific Global Investment Management Co. lifted its stake in shares of Helix Energy Solutions Group by 0.5% during the first quarter. Pacific Global Investment Management Co. now owns 414,733 shares of the oil and gas company's stock worth $3,446,000 after purchasing an additional 2,007 shares in the last quarter. Finally, Quarry LP grew its stake 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. Hedge funds and other institutional investors own 91.33% of the company's stock.

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.