Helix Energy Solutions Group (NYSE:HLX) Shares Gap Up After Strong Earnings

Helix Energy Solutions Group, Inc. (NYSE:HLX) gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $9.07, but opened at $9.84. Helix Energy Solutions Group shares last traded at $10.2520, with a volume of 879,633 shares changing hands.

The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.08. The firm had revenue of $334.16 million during the quarter, compared to analysts’ expectations of $304.67 million. Helix Energy Solutions Group had a net margin of 3.25% and a return on equity of 2.75%. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HLX shares. Zacks Research upgraded Helix Energy Solutions Group from a “strong sell” rating to a “hold” rating in a report on Thursday, November 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Helix Energy Solutions Group in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Helix Energy Solutions Group currently has a consensus rating of “Moderate Buy” and an average price target of $10.50.

Hedge Funds Weigh In On Helix Energy Solutions Group

Several large investors have recently bought and sold shares of the stock. Quarry LP acquired a new stake in Helix Energy Solutions Group in the 4th quarter worth $27,000. Bessemer Group Inc. lifted its stake in shares of Helix Energy Solutions Group by 243.4% in the second quarter. Bessemer Group Inc. now owns 5,045 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 3,576 shares during the period. Royal Bank of Canada grew its position in Helix Energy Solutions Group by 175.9% during the fourth quarter. Royal Bank of Canada now owns 6,993 shares of the oil and gas company’s stock worth $44,000 after buying an additional 4,458 shares in the last quarter. AlphaQuest LLC grew its position in Helix Energy Solutions Group by 49.3% during the second quarter. AlphaQuest LLC now owns 8,877 shares of the oil and gas company’s stock worth $55,000 after buying an additional 2,930 shares in the last quarter. Finally, Drucker Wealth 3.0 LLC bought a new position in Helix Energy Solutions Group during the third quarter valued at about $66,000. 91.33% of the stock is currently owned by institutional investors and hedge funds.

Helix Energy Solutions Group Stock Performance

The firm has a fifty day simple moving average of $7.43 and a 200 day simple moving average of $6.85. The company has a current ratio of 2.54, a quick ratio of 2.54 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 36.74 and a beta of 1.25.

Helix Energy Solutions Group Company Profile

Helix Energy Solutions Group, Inc (NYSE: HLX) is a Houston-based provider of offshore well intervention and robotics services to the global energy industry. The company specializes in extending the productive life of subsea wells through hydraulic workover systems, coiled tubing operations and riser-based wireline services. In addition, Helix offers remotely operated vehicle (ROV) support, inspection, maintenance and repair for subsea infrastructure.

Operating through three core business segments—Well Intervention, Robotics & Subsea Services and Production Facilities—Helix deploys purpose-built vessels, specialized equipment and engineering expertise to execute complex offshore projects.