Helix Energy Solutions Group (NYSE:HLX) Stock Rating Upgraded by Zacks Research

Helix Energy Solutions Group (NYSE:HLX) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other analysts have also recently issued research reports about the company. Cowen reiterated a “buy” rating on shares of Helix Energy Solutions Group in a research report on Friday, October 24th. Raymond James Financial reaffirmed an “outperform” rating and set a $9.00 price target (down previously from $10.00) on shares of Helix Energy Solutions Group in a research report on Friday, July 25th. TD Cowen raised their price objective on shares of Helix Energy Solutions Group from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, October 24th. Wall Street Zen raised shares of Helix Energy Solutions Group from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Helix Energy Solutions Group in a research report on Wednesday. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.50.

Helix Energy Solutions Group Stock Performance

Shares of HLX stock opened at $6.42 on Thursday. The company has a quick ratio of 2.54, a current ratio of 2.54 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average price of $6.57 and a 200-day moving average price of $6.46. Helix Energy Solutions Group has a 52 week low of $5.52 and a 52 week high of $11.48. The firm has a market capitalization of $944.26 million, a PE ratio of 22.93 and a beta of 1.55.

Helix Energy Solutions Group (NYSE:HLX) last issued its earnings results on Wednesday, October 22nd. The oil and gas company reported $0.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.15. The company had revenue of $376.96 million for the quarter, compared to analysts’ expectations of $361.93 million. Helix Energy Solutions Group had a net margin of 3.25% and a return on equity of 2.75%. The company’s quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities research analysts expect that Helix Energy Solutions Group will post 0.26 earnings per share for the current year.

Insider Activity

In other news, COO Scott Andrew Sparks sold 40,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $6.88, for a total transaction of $275,200.00. Following the sale, the chief operating officer directly owned 301,042 shares in the company, valued at $2,071,168.96. This trade represents a 11.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 6.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Helix Energy Solutions Group

A number of hedge funds have recently made changes to their positions in the business. CWM LLC lifted its holdings in Helix Energy Solutions Group by 78.0% in the 1st quarter. CWM LLC now owns 10,699 shares of the oil and gas company’s stock worth $89,000 after purchasing an additional 4,688 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Helix Energy Solutions Group by 42.2% in the first quarter. Victory Capital Management Inc. now owns 195,115 shares of the oil and gas company’s stock worth $1,621,000 after buying an additional 57,947 shares in the last quarter. Choreo LLC boosted its position in shares of Helix Energy Solutions Group by 9.5% during the first quarter. Choreo LLC now owns 24,396 shares of the oil and gas company’s stock worth $203,000 after acquiring an additional 2,112 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Helix Energy Solutions Group during the first quarter valued at $1,202,000. Finally, Royce & Associates LP bought a new stake in Helix Energy Solutions Group in the 1st quarter valued at $527,000. 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.