Helix Energy Solutions Group (HLX) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Helix Energy Solutions Group (NYSE:HLX) from a hold rating to a buy rating in a research note published on Wednesday. They currently have $12.00 price objective on the oil and gas company’s stock.

According to Zacks, “Helix Energy Solutions Group, Inc. is an international offshore energy company that provides specialty services to the offshore energy industry, with a focus on their growing well intervention and robotics operations. Their Contracting Services seek to provide services and methodologies which they believe are critical to developing offshore reservoirs and maximizing production economics. Their operations goal is to deliver our services in a cost effective manner and with zero incidents. The company seeks to align the interests of the producer and the contractor by investing in mature offshore oil and gas properties, hub production facilities and proven undeveloped reserve plays where Helix Energy Solutions Group adds value by deploying vessels from its diverse contracting fleet. This unique integration of marine contracting and oil and gas operations is designed to add stability to revenues and earnings in an industry as cyclical as energy. “

Separately, ValuEngine raised shares of Helix Energy Solutions Group from a hold rating to a buy rating in a report on Wednesday, June 27th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. The stock has an average rating of Buy and an average target price of $9.60.

Helix Energy Solutions Group stock traded up $0.18 during mid-day trading on Wednesday, reaching $10.02. The company’s stock had a trading volume of 1,891,942 shares, compared to its average volume of 1,409,462. Helix Energy Solutions Group has a 12-month low of $5.44 and a 12-month high of $10.89. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -66.80 and a beta of 2.56. The company has a current ratio of 2.50, a quick ratio of 2.50 and a debt-to-equity ratio of 0.26.

Helix Energy Solutions Group (NYSE:HLX) last released its quarterly earnings data on Monday, July 23rd. The oil and gas company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. Helix Energy Solutions Group had a net margin of 9.79% and a return on equity of 1.05%. The business had revenue of $204.63 million during the quarter, compared to analyst estimates of $183.54 million. During the same period in the previous year, the business earned ($0.03) EPS. Helix Energy Solutions Group’s revenue was up 36.1% compared to the same quarter last year. On average, equities research analysts forecast that Helix Energy Solutions Group will post 0.19 EPS for the current year.

In other news, CEO Owen E. Kratz sold 271,532 shares of Helix Energy Solutions Group stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $10.09, for a total transaction of $2,739,757.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William L. Transier sold 32,700 shares of Helix Energy Solutions Group stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $9.69, for a total transaction of $316,863.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,123,584 shares of company stock valued at $11,027,016. Insiders own 5.85% of the company’s stock.

A number of large investors have recently modified their holdings of HLX. Swiss National Bank raised its position in Helix Energy Solutions Group by 3.3% in the 1st quarter. Swiss National Bank now owns 244,300 shares of the oil and gas company’s stock worth $1,414,000 after purchasing an additional 7,800 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Helix Energy Solutions Group by 3.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 1,216,330 shares of the oil and gas company’s stock valued at $7,043,000 after acquiring an additional 37,819 shares during the period. Northern Trust Corp increased its position in shares of Helix Energy Solutions Group by 1.5% in the first quarter. Northern Trust Corp now owns 1,712,750 shares of the oil and gas company’s stock valued at $9,916,000 after acquiring an additional 26,045 shares during the period. BlackRock Inc. increased its position in shares of Helix Energy Solutions Group by 0.9% in the first quarter. BlackRock Inc. now owns 18,511,768 shares of the oil and gas company’s stock valued at $107,182,000 after acquiring an additional 166,466 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Helix Energy Solutions Group by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 12,545,557 shares of the oil and gas company’s stock valued at $72,639,000 after acquiring an additional 33,460 shares during the period. Institutional investors own 89.47% of the company’s stock.

About Helix Energy Solutions Group

Helix Energy Solutions Group, Inc, an offshore energy services company, provides specialty services to the offshore energy industry primarily in Brazil, the Gulf of Mexico, North Sea, the Asia Pacific, and West Africa regions. The company operates through three segments: Well Intervention, Robotics, and Production Facilities.

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