Bank of America Downgrades Helix Energy Solutions Group (HLX) to Underperform

Bank of America lowered shares of Helix Energy Solutions Group (NYSE:HLX) from a neutral rating to an underperform rating in a report issued on Tuesday, Marketbeat Ratings reports. Bank of America currently has $7.00 price objective on the oil and gas company’s stock.

Several other research firms have also commented on HLX. Cowen set a $10.00 target price on shares of Helix Energy Solutions Group and gave the company a buy rating in a report on Thursday, January 11th. Piper Jaffray Companies set a $7.00 target price on shares of Helix Energy Solutions Group and gave the company a hold rating in a report on Monday, December 25th. Zacks Investment Research lowered shares of Helix Energy Solutions Group from a hold rating to a sell rating in a report on Tuesday, October 24th. Finally, Capital One Financial reissued an overweight rating on shares of Helix Energy Solutions Group in a report on Tuesday, October 10th. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Helix Energy Solutions Group currently has a consensus rating of Hold and a consensus price target of $8.40.

Helix Energy Solutions Group (HLX) traded up $0.11 during trading hours on Tuesday, reaching $8.14. 890,880 shares of the company were exchanged, compared to its average volume of 1,023,327. Helix Energy Solutions Group has a 1-year low of $4.82 and a 1-year high of $8.89. The company has a market capitalization of $1,186.19, a price-to-earnings ratio of -13.80 and a beta of 2.61. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.26.

Helix Energy Solutions Group (NYSE:HLX) last released its earnings results on Monday, October 23rd. The oil and gas company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. Helix Energy Solutions Group had a net margin of 1.40% and a return on equity of 0.60%. The firm had revenue of $163.30 million for the quarter, compared to analyst estimates of $168.97 million. During the same period last year, the firm earned $0.10 EPS. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. analysts anticipate that Helix Energy Solutions Group will post -0.14 EPS for the current fiscal year.

In related news, Director Nancy K. Quinn sold 11,268 shares of Helix Energy Solutions Group stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $7.44, for a total transaction of $83,833.92. Following the sale, the director now directly owns 104,107 shares of the company’s stock, valued at approximately $774,556.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Scott Andrew Sparks sold 10,000 shares of Helix Energy Solutions Group stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $6.75, for a total transaction of $67,500.00. Following the sale, the chief operating officer now directly owns 151,530 shares in the company, valued at $1,022,827.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,734 shares of company stock worth $196,079. Insiders own 5.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Helix Energy Solutions Group by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 13,135,138 shares of the oil and gas company’s stock valued at $74,082,000 after purchasing an additional 487,976 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Helix Energy Solutions Group by 9.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,407,257 shares of the oil and gas company’s stock worth $69,976,000 after buying an additional 1,065,628 shares during the period. GMT Capital Corp boosted its position in Helix Energy Solutions Group by 10.5% during the 2nd quarter. GMT Capital Corp now owns 8,209,023 shares of the oil and gas company’s stock worth $42,441,000 after buying an additional 777,000 shares during the period. Victory Capital Management Inc. boosted its position in Helix Energy Solutions Group by 4.2% during the 3rd quarter. Victory Capital Management Inc. now owns 6,338,291 shares of the oil and gas company’s stock worth $46,840,000 after buying an additional 256,250 shares during the period. Finally, Macquarie Group Ltd. boosted its position in Helix Energy Solutions Group by 17.2% during the 3rd quarter. Macquarie Group Ltd. now owns 4,201,347 shares of the oil and gas company’s stock worth $31,048,000 after buying an additional 615,917 shares during the period. 85.92% of the stock is currently owned by institutional investors.

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Helix Energy Solutions Group Company Profile

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.

Analyst Recommendations for Helix Energy Solutions Group (NYSE:HLX)

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