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

Key Points

• Helix Energy Solutions Group reported earnings of $0.15 per share for the quarter, which fell short of analysts' expectations of $0.26.
• The company's stock experienced a 2.7% increase during midday trading, reaching $6.63, with a trading volume of 1,286,566 shares.
• Analysts' consensus rating for Helix Energy Solutions Group is currently "Hold," with an average target price of $12.00.

Helix Energy Solutions Group (NYSE:HLX - Get Free Report) announced its earnings results on Wednesday. The oil and gas company reported $0.15 EPS for the quarter, hitting analysts' consensus estimates of $0.15, Zacks reports. Helix Energy Solutions Group had a return on equity of 3.23% and a net margin of 3.92%.The company had revenue of $376.96 million for the quarter, compared to analysts' expectations of $361.93 million. Helix Energy Solutions Group's quarterly revenue was up 10.1% on a year-over-year basis.

Helix Energy Solutions Group Trading Up 2.7%

Shares of Helix Energy Solutions Group stock opened at $6.63 on Thursday. The firm has a market cap of $973.81 million, a price-to-earnings ratio of 20.70 and a beta of 1.53. The business has a 50-day moving average price of $6.38 and a 200-day moving average price of $6.42. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.19. Helix Energy Solutions Group has a twelve month low of $5.52 and a twelve month high of $11.48.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HLX. Nomura Holdings Inc. bought a new position in shares of Helix Energy Solutions Group in the 2nd quarter valued at about $218,000. Public Sector Pension Investment Board lifted its holdings in shares of Helix Energy Solutions Group by 7.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 486,874 shares of the oil and gas company's stock valued at $3,038,000 after acquiring an additional 33,467 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Helix Energy Solutions Group by 3.3% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 238,188 shares of the oil and gas company's stock valued at $1,483,000 after acquiring an additional 7,654 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Helix Energy Solutions Group by 85.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 15,215 shares of the oil and gas company's stock valued at $95,000 after acquiring an additional 7,020 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in shares of 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. Hedge funds and other institutional investors own 91.33% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on HLX shares. Zacks Research raised Helix Energy Solutions Group from a "strong sell" rating to a "hold" rating in a report on Monday, September 22nd. Wall Street Zen lowered Helix Energy Solutions Group from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Raymond James Financial reiterated an "outperform" rating and issued a $9.00 price target (down previously from $10.00) on shares of Helix Energy Solutions Group in a research note on Friday, July 25th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Helix Energy Solutions Group in a research note on Tuesday, October 14th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $12.00.

About Helix Energy Solutions Group

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.