Helix Energy Solutions Group (NYSE:HLX) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Helix Energy Solutions Group from “Hold” to “Buy,” although other analysts remain divided. The stock has an average “Hold” rating and a consensus price target of $14.00.
• HLX shares opened at $9.62, with a market capitalization of approximately $1.42 billion and a 12-month trading range of $5.58 to $10.75.
• Helix reported quarterly earnings of $0.10 per share, beating estimates by $0.02, while revenue of $304.02 million fell short of the $314.56 million consensus forecast. Institutional investors own approximately 91.33% of the company’s shares.

Helix Energy Solutions Group (NYSE:HLX - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts have also commented on the company. Weiss Ratings restated a "sell (d+)" rating on shares of Helix Energy Solutions Group in a research report on Friday, July 24th. TD Cowen upped their price target on shares of Helix Energy Solutions Group from $13.00 to $14.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $14.00.

Helix Energy Solutions Group Trading Down 2.0%

Shares of HLX stock opened at $9.62 on Friday. The company has a market capitalization of $1.42 billion, a P/E ratio of 35.61 and a beta of 1.14. Helix Energy Solutions Group has a 12-month low of $5.58 and a 12-month high of $10.75. The company has a quick ratio of 2.92, a current ratio of 2.92 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $9.26 and a 200 day moving average price of $9.25.

Helix Energy Solutions Group (NYSE:HLX - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The oil and gas company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. Helix Energy Solutions Group had a net margin of 3.04% and a return on equity of 2.96%. The firm had revenue of $304.02 million for the quarter, compared to analysts' expectations of $314.56 million. Research analysts forecast that Helix Energy Solutions Group will post 0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Quarry LP bought a new stake in shares of Helix Energy Solutions Group during the fourth quarter worth $27,000. Royal Bank of Canada lifted its stake in shares of 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 valued at $44,000 after acquiring an additional 4,458 shares during the period. State of Wyoming boosted its holdings in Helix Energy Solutions Group by 357.7% in the first quarter. State of Wyoming now owns 10,449 shares of the oil and gas company's stock valued at $103,000 after acquiring an additional 8,166 shares during the last quarter. Strs Ohio bought a new position in Helix Energy Solutions Group in the first quarter valued at about $89,000. Finally, OneDigital Investment Advisors LLC acquired a new stake in Helix Energy Solutions Group in the second quarter worth about $97,000. 91.33% of the stock is currently owned by institutional investors.

About Helix Energy Solutions Group

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.

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