Helix Energy Solutions Group (NYSE:HLX) Downgraded to Sell Rating by Wall Street Zen

Key Points

• Helix Energy Solutions Group has been downgraded by Wall Street Zen from a "hold" rating to a "sell" rating, indicating a negative outlook for the stock.
• Raymond James Financial maintained an "outperform" rating on Helix with a revised price target of $9.00, down from $10.00.
• The company reported a loss of ($0.02) earnings per share for the last quarter, missing analyst expectations and generating revenue below consensus estimates.

Helix Energy Solutions Group (NYSE:HLX - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

Separately, Raymond James Financial reaffirmed an "outperform" rating and issued a $9.00 price objective (down from $10.00) on shares of Helix Energy Solutions Group in a research note on Friday.

Helix Energy Solutions Group Stock Up 2.9%

Shares of NYSE HLX opened at $6.17 on Friday. The firm has a market cap of $934.18 million, a PE ratio of 19.27 and a beta of 1.57. Helix Energy Solutions Group has a 12-month low of $5.52 and a 12-month high of $12.89. The company's fifty day simple moving average is $6.54 and its 200 day simple moving average is $7.31. The company has a quick ratio of 2.28, a current ratio of 2.19 and a debt-to-equity ratio of 0.19.

Helix Energy Solutions Group (NYSE:HLX - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.03). The company had revenue of $302.29 million for the quarter, compared to the consensus estimate of $326.62 million. Helix Energy Solutions Group had a return on equity of 3.23% and a net margin of 3.92%. As a group, sell-side analysts forecast that Helix Energy Solutions Group will post 0.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its stake in shares of Helix Energy Solutions Group by 54.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 43,163 shares of the oil and gas company's stock valued at $359,000 after buying an additional 15,135 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Helix Energy Solutions Group by 8.2% in the first quarter. SG Americas Securities LLC now owns 69,460 shares of the oil and gas company's stock valued at $577,000 after purchasing an additional 5,251 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Helix Energy Solutions Group by 13.7% in the fourth quarter. Wellington Management Group LLP now owns 3,282,202 shares of the oil and gas company's stock valued at $30,590,000 after purchasing an additional 396,666 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Helix Energy Solutions Group in the first quarter valued at about $382,000. Finally, Acuitas Investments LLC raised its holdings in shares of Helix Energy Solutions Group by 21.1% in the first quarter. Acuitas Investments LLC now owns 416,006 shares of the oil and gas company's stock valued at $3,457,000 after purchasing an additional 72,604 shares during the last quarter. 91.33% of the stock is owned by institutional investors.

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.

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