Helix Energy Solutions Group (NYSE:HLX) Announces Earnings Results

Helix Energy Solutions Group (NYSE:HLX) issued its earnings results on Thursday. The oil and gas company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.08 by $0.02, Zacks reports. Helix Energy Solutions Group had a net margin of 1.10% and a return on equity of 1.82%. The company had revenue of $304.02 million for the quarter, compared to analyst estimates of $314.56 million.

Helix Energy Solutions Group Price Performance

HLX traded down $0.19 during trading on Friday, reaching $9.62. 1,515,254 shares of the stock were exchanged, compared to its average volume of 1,856,194. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.92 and a quick ratio of 2.92. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 96.16 and a beta of 1.14. Helix Energy Solutions Group has a 1 year low of $5.58 and a 1 year high of $10.75. The business’s 50 day moving average price is $9.25 and its two-hundred day moving average price is $9.25.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HLX. Kennedy Capital Management LLC grew its holdings in Helix Energy Solutions Group by 0.3% during the fourth quarter. Kennedy Capital Management LLC now owns 559,666 shares of the oil and gas company’s stock worth $3,509,000 after acquiring an additional 1,428 shares during the period. Corient Private Wealth LLC lifted its holdings in Helix Energy Solutions Group by 10.0% in the 2nd quarter. Corient Private Wealth LLC now owns 24,104 shares of the oil and gas company’s stock valued at $150,000 after acquiring an additional 2,183 shares during the last quarter. Oxford Asset Management LLP lifted its holdings in Helix Energy Solutions Group by 7.1% in the 2nd quarter. Oxford Asset Management LLP now owns 45,352 shares of the oil and gas company’s stock valued at $283,000 after acquiring an additional 3,016 shares during the last quarter. Quarry LP bought a new position in shares of Helix Energy Solutions Group during the 4th quarter valued at about $27,000. Finally, Royal Bank of Canada boosted its position in shares of Helix Energy Solutions Group by 175.9% during the 4th quarter. Royal Bank of Canada now owns 6,993 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 4,458 shares in the last quarter. Institutional investors and hedge funds own 91.33% of the company’s stock.

Analyst Upgrades and Downgrades

HLX has been the subject of several recent analyst reports. TD Cowen raised their price objective on shares of Helix Energy Solutions Group from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Weiss Ratings restated a “sell (d+)” rating on shares of Helix Energy Solutions Group in a research report on Friday, July 24th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $14.00.

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.