Helix Energy (NYSE:HLX) Solutions Group Inc (NYSE:HLX) President and CEO Owen E. Kratz has sold a total of 1,050 shares in the company, according to a recent SEC filing. The transaction, dated May 23, 2024, involved shares sold at a price of $11.50 each, totaling over $12,075.
The sale by Kratz comes at a time when Helix Energy, a company specializing in oil and gas field services, continues to navigate the energy sector's dynamic landscape. Following this transaction, Kratz still maintains a significant stake in the company, with 7,470,279 shares remaining in his possession. It is important to note that Kratz disclaims beneficial ownership of 1,000,000 shares included in this amount, which are held by Joss Investments Limited Partnership, where he serves as a general partner.
Investors often monitor insider transactions like these for insights into executive sentiment towards their company's stock. However, it's essential to consider the broader context in which these sales occur, including the executive's portfolio strategy and personal financial planning.
Helix Energy Solutions Group, headquartered in Houston, Texas, operates under the ticker symbol NYSE:HLX and has a history of transitioning through various phases of the energy industry, previously known as Cal Dive International Inc.
The SEC filing was signed by Ken Neikirk, acting by Power of Attorney for Owen E. Kratz.
InvestingPro Insights
As Helix Energy Solutions Group Inc (NYSE:HLX) President and CEO Owen E. Kratz adjusts his stake in the company, investors are keeping a close eye on the company's financial health and market position. According to InvestingPro data, Helix Energy currently holds a market capitalization of $1.71 billion and has experienced a substantial revenue growth of 37.28% over the last twelve months as of Q1 2024. Despite a negative P/E ratio of -52.67, the adjusted P/E ratio for the same period shows a more optimistic figure at 32.01, indicating potential for future profitability.
Reflecting on the company's stock performance, Helix Energy has demonstrated a high return over the last year with a 1 Year Price Total Return of 64.81%. This is in line with an InvestingPro Tip that highlights the stock's volatility, which can be seen through its price movements, including a 6 Month Price Total Return of 21.78%. Moreover, the company's liquid assets surpass its short-term obligations, which is a positive sign of financial stability.
An important factor to consider for investors is the company's profitability. While Helix Energy has not been profitable over the last twelve months, analysts predict that the company will turn a profit this year, as per another InvestingPro Tip. This could be a pivotal moment for the company, especially when considering strategic moves like those made by CEO Owen E. Kratz.
For those looking to delve deeper into Helix Energy's financials and stock performance, InvestingPro offers additional insights. There are currently 8 more InvestingPro Tips available for Helix Energy, which can be accessed at InvestingPro's HLX page. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further valuable information that could guide investment decisions.
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