Helix Energy Solutions Group (NYSE:HLX) Upgraded to Hold at Zacks Research

Key Points

• Helix Energy Solutions Group has been upgraded from a "strong sell" to a "hold" rating by Zacks Research, despite a recent downgrade to "sell" by Wall Street Zen.
• The company's stock is currently trading at $6.59 with a consensus rating of "Moderate Buy" and an average price target of $12.00.
• Helix Energy reported a loss of $0.02 EPS for the most recent quarter, missing estimates and generating revenue of $302.29 million, which was below expectations.

Helix Energy Solutions Group (NYSE:HLX - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research firms also recently commented on HLX. Wall Street Zen downgraded Helix Energy Solutions Group from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Raymond James Financial restated an "outperform" rating and issued a $9.00 price target (down previously from $10.00) on shares of Helix Energy Solutions Group in a report on Friday, July 25th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Helix Energy Solutions Group presently has a consensus rating of "Moderate Buy" and an average price target of $12.00.

Helix Energy Solutions Group Price Performance

Helix Energy Solutions Group stock opened at $6.59 on Monday. Helix Energy Solutions Group has a 1 year low of $5.52 and a 1 year high of $12.33. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.19 and a current ratio of 2.19. The firm has a 50 day moving average price of $6.21 and a 200 day moving average price of $6.66. The company has a market cap of $967.90 million, a price-to-earnings ratio of 20.58 and a beta of 1.65.

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 for the quarter, missing the consensus estimate of $0.01 by ($0.03). Helix Energy Solutions Group had a return on equity of 3.23% and a net margin of 3.92%.The firm had revenue of $302.29 million during the quarter, compared to analysts' expectations of $326.62 million. Helix Energy Solutions Group has set its FY 2025 guidance at EPS. Sell-side analysts predict that Helix Energy Solutions Group will post 0.26 earnings per share for the current year.

Institutional Trading of Helix Energy Solutions Group

A number of hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted 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 purchasing an additional 15,135 shares during the period. Cetera Investment Advisers acquired a new position in Helix Energy Solutions Group in the 1st quarter worth $425,000. SG Americas Securities LLC boosted its position in Helix Energy Solutions Group by 8.2% in the 1st quarter. SG Americas Securities LLC now owns 69,460 shares of the oil and gas company's stock valued at $577,000 after buying an additional 5,251 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Helix Energy Solutions Group by 6.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,338,193 shares of the oil and gas company's stock valued at $19,430,000 after buying an additional 148,834 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Helix Energy Solutions Group by 13.7% during 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 acquiring an additional 396,666 shares in the last quarter. Hedge funds and other institutional investors own 91.33% of the company's stock.

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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