Helix Energy Solutions Group (NYSE:HLX) Trading 7.3% Higher - Still a Buy?

Shares of Helix Energy Solutions Group, Inc. (NYSE:HLX - Get Free Report) were up 7.3% during trading on Tuesday . The stock traded as high as $6.67 and last traded at $6.71. Approximately 1,433,065 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 1,766,568 shares. The stock had previously closed at $6.25.

Analysts Set New Price Targets

Separately, Raymond James Financial cut Helix Energy Solutions Group from a "strong-buy" rating to an "outperform" rating and reduced their target price for the company from $14.00 to $10.00 in a report on Friday, April 25th.

Helix Energy Solutions Group Stock Performance

The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.20. The company has a 50 day simple moving average of $6.56 and a 200-day simple moving average of $7.55. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 12.24 and a beta of 1.57.

Helix Energy Solutions Group (NYSE:HLX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.07. Helix Energy Solutions Group had a return on equity of 5.54% and a net margin of 6.34%. The firm had revenue of $278.06 million for the quarter, compared to analyst estimates of $285.06 million. As a group, equities research analysts expect that Helix Energy Solutions Group, Inc. will post 0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Helix Energy Solutions Group

Institutional investors have recently modified their holdings of the company. Sunbelt Securities Inc. acquired a new position in shares of Helix Energy Solutions Group during the fourth quarter worth approximately $34,000. Quarry LP raised its position in shares of Helix Energy Solutions Group by 79.8% during the fourth quarter. Quarry LP now owns 4,776 shares of the oil and gas company's stock worth $45,000 after purchasing an additional 2,120 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Helix Energy Solutions Group by 143.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,930 shares of the oil and gas company's stock worth $45,000 after purchasing an additional 2,902 shares during the period. AlphaQuest LLC raised its position in shares of Helix Energy Solutions Group by 594,600.0% during the first quarter. AlphaQuest LLC now owns 5,947 shares of the oil and gas company's stock worth $49,000 after purchasing an additional 5,946 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Helix Energy Solutions Group during the fourth quarter worth approximately $99,000. 91.33% of the stock is owned by institutional investors and hedge funds.

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.