Zacks Investment Research upgraded shares of Helix Energy Solutions Group (NYSE:HLX) from a hold rating to a buy rating in a research report report published on Wednesday morning. The brokerage currently has $9.25 target price 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. “
Several other equities research analysts also recently commented on HLX. ValuEngine downgraded shares of Helix Energy Solutions Group from a buy rating to a hold rating in a research note on Tuesday, July 3rd. Cowen began coverage on shares of Helix Energy Solutions Group in a research note on Saturday, October 13th. They issued a buy rating and a $12.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $9.65.
NYSE:HLX traded down $0.21 during trading hours on Wednesday, hitting $8.25. The stock had a trading volume of 1,144,694 shares, compared to its average volume of 1,900,575. Helix Energy Solutions Group has a one year low of $5.44 and a one year high of $10.89. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.65 and a current ratio of 2.65. The company has a market capitalization of $1.26 billion, a PE ratio of -55.00 and a beta of 2.57.
Helix Energy Solutions Group (NYSE:HLX) last issued its earnings results on Monday, October 22nd. The oil and gas company reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.07. Helix Energy Solutions Group had a net margin of 12.48% and a return on equity of 2.59%. The firm had revenue of $212.58 million during the quarter, compared to the consensus estimate of $203.56 million. During the same quarter in the prior year, the firm earned $0.02 earnings per share. On average, sell-side analysts forecast that Helix Energy Solutions Group will post 0.22 earnings per share for the current year.
In other news, COO Scott Andrew Sparks sold 10,000 shares of the stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $9.82, for a total transaction of $98,200.00. Following the completion of the sale, the chief operating officer now owns 196,109 shares of the company’s stock, valued at $1,925,790.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Alisa B. Johnson sold 15,244 shares of the stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $9.85, for a total transaction of $150,153.40. Following the sale, the vice president now directly owns 285,480 shares of the company’s stock, valued at approximately $2,811,978. The disclosure for this sale can be found here. Insiders have sold 852,052 shares of company stock valued at $8,287,258 in the last three months. 5.85% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Helix Energy Solutions Group by 6.2% during the second quarter. BlackRock Inc. now owns 19,667,937 shares of the oil and gas company’s stock worth $163,833,000 after acquiring an additional 1,156,169 shares in the last quarter. Victory Capital Management Inc. grew its position in Helix Energy Solutions Group by 3.9% in the second quarter. Victory Capital Management Inc. now owns 6,958,736 shares of the oil and gas company’s stock valued at $57,966,000 after purchasing an additional 262,605 shares in the last quarter. Macquarie Group Ltd. lifted its stake in Helix Energy Solutions Group by 0.3% in the second quarter. Macquarie Group Ltd. now owns 4,449,931 shares of the oil and gas company’s stock valued at $37,068,000 after acquiring an additional 11,664 shares during the last quarter. Legal & General Group Plc lifted its stake in Helix Energy Solutions Group by 725.5% in the first quarter. Legal & General Group Plc now owns 2,370,722 shares of the oil and gas company’s stock valued at $13,720,000 after acquiring an additional 2,083,536 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its stake in Helix Energy Solutions Group by 23.4% in the second quarter. Public Employees Retirement Association of Colorado now owns 1,796,655 shares of the oil and gas company’s stock valued at $14,966,000 after acquiring an additional 340,700 shares during the last quarter. 89.35% of the stock is owned by institutional investors.
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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