Helix Energy Solutions Group (NYSE:HLX) Stock Passes Above 200 Day Moving Average – What’s Next?

Helix Energy Solutions Group, Inc. (NYSE:HLX) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $7.19 and traded as high as $9.08. Helix Energy Solutions Group shares last traded at $9.0650, with a volume of 1,655,949 shares trading hands.

Wall Street Analysts Forecast Growth

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

Helix Energy Solutions Group Trading Down 0.4%

The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.19. The firm has a 50 day moving average price of $8.39 and a 200 day moving average price of $7.22. The stock has a market capitalization of $1.39 billion, a PE ratio of 44.95 and a beta of 1.21.

Helix Energy Solutions Group (NYSE:HLX) last released its quarterly earnings results on Monday, February 23rd. The oil and gas company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.08. The business had revenue of $334.16 million for the quarter, compared to analysts’ expectations of $304.67 million. Helix Energy Solutions Group had a net margin of 2.39% and a return on equity of 2.88%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. Equities analysts expect that Helix Energy Solutions Group, Inc. will post 0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HLX. Alpine Global Management LLC purchased a new stake in Helix Energy Solutions Group in the 4th quarter worth about $180,000. Invesco Ltd. raised its stake in Helix Energy Solutions Group by 58.6% in the 4th quarter. Invesco Ltd. now owns 4,968,078 shares of the oil and gas company’s stock valued at $31,150,000 after acquiring an additional 1,835,536 shares during the period. State of Tennessee Department of Treasury lifted its holdings in Helix Energy Solutions Group by 52.4% during the fourth quarter. State of Tennessee Department of Treasury now owns 53,671 shares of the oil and gas company’s stock valued at $337,000 after purchasing an additional 18,464 shares during the last quarter. EP Wealth Advisors LLC purchased a new position in shares of Helix Energy Solutions Group in the fourth quarter worth about $330,000. Finally, NewEdge Advisors LLC raised its position in shares of Helix Energy Solutions Group by 20,365.3% in the fourth quarter. NewEdge Advisors LLC now owns 81,861 shares of the oil and gas company’s stock valued at $513,000 after purchasing an additional 81,461 shares during the period. Hedge funds and other institutional investors own 91.33% of the company’s stock.

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.