Helix Energy Solutions Group (NYSE:HLX) Stock Passes Above Two Hundred Day Moving Average After Earnings Miss

Key Points

• Helix Energy Solutions Group reported quarterly earnings of $0.15 EPS, missing the consensus estimate of $0.26 by $0.11, despite a 10.1% year-over-year increase in revenue.
• The company's stock crossed above its 200-day moving average at $6.42, reaching a high of $6.73, and last traded at $6.63 with a significant trading volume.
• Analysts have mixed ratings on Helix Energy Solutions, with a consensus rating of "Hold" and a price target adjustment indicating potential challenges ahead.

Helix Energy Solutions Group, Inc. (NYSE:HLX - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday after the company announced better than expected quarterly earnings. The stock has a 200-day moving average of $6.42 and traded as high as $6.73. Helix Energy Solutions Group shares last traded at $6.63, with a volume of 1,286,566 shares.

The oil and gas company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.11). Helix Energy Solutions Group had a return on equity of 3.23% and a net margin of 3.92%.Helix Energy Solutions Group's quarterly revenue was up 10.1% on a year-over-year basis.

Analyst Ratings Changes

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

Institutional Trading of Helix Energy Solutions Group

A number of large investors have recently bought and sold shares of HLX. Invesco Ltd. grew its position in Helix Energy Solutions Group by 219.2% in the second quarter. Invesco Ltd. now owns 3,198,950 shares of the oil and gas company's stock valued at $19,961,000 after acquiring an additional 2,196,916 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in Helix Energy Solutions Group in the second quarter valued at $10,296,000. Cerity Partners LLC bought a new stake in Helix Energy Solutions Group in the second quarter valued at $8,108,000. Encompass Capital Advisors LLC grew its position in Helix Energy Solutions Group by 24.3% in the first quarter. Encompass Capital Advisors LLC now owns 5,099,383 shares of the oil and gas company's stock valued at $42,376,000 after acquiring an additional 996,088 shares during the period. Finally, Nuveen LLC bought a new stake in Helix Energy Solutions Group in the first quarter valued at $7,378,000. 91.33% of the stock is currently owned by institutional investors.

Helix Energy Solutions Group Stock Up 2.7%

The business has a 50-day simple moving average of $6.38 and a two-hundred day simple moving average of $6.42. The stock has a market capitalization of $973.81 million, a P/E ratio of 20.70 and a beta of 1.53. 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 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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