Helix Energy Solutions Group (NYSE:HLX) Trading 4.1% Higher - Here's Why

Key Points

• Helix Energy Solutions Group shares rose 4.1% to about $10.55, though trading volume was 97% below the average daily volume.
• Analyst sentiment remains cautious: the stock has an average rating of “Hold” from three analysts, with one Buy and two Hold ratings, alongside a consensus price target of $14.00.
• Helix reported quarterly EPS of $0.10, beating estimates by $0.02, while revenue of $304.02 million fell short of the $314.56 million consensus estimate. Institutional ownership stands at 91.33%, with several major investors increasing their positions.

Helix Energy Solutions Group, Inc. (NYSE:HLX - Get Free Report) shot up 4.1% on Monday . The company traded as high as $10.58 and last traded at $10.5520. 61,678 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 1,795,888 shares. The stock had previously closed at $10.14.

Analyst Ratings Changes

Several brokerages have recently commented on HLX. Weiss Ratings raised Helix Energy Solutions Group from a "sell (d+)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Wall Street Zen downgraded shares of Helix Energy Solutions Group from a "buy" rating to a "hold" rating in a research note on Sunday, August 16th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Helix Energy Solutions Group presently has an average rating of "Hold" and a consensus price target of $14.00.

Helix Energy Solutions Group Stock Performance

The company has a 50 day simple moving average of $9.50 and a 200-day simple moving average of $9.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.47 and a quick ratio of 3.47. The stock has a market cap of $1.52 billion, a P/E ratio of 38.22 and a beta of 1.14.

Helix Energy Solutions Group (NYSE:HLX - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The oil and gas company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. Helix Energy Solutions Group had a return on equity of 2.95% and a net margin of 3.04%.The firm had revenue of $304.02 million for the quarter, compared to analyst estimates of $314.56 million. On average, equities analysts expect that Helix Energy Solutions Group, Inc. will post 0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Helix Energy Solutions Group

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Helix Energy Solutions Group in the second quarter worth $198,670,000. Dimensional Fund Advisors LP increased its holdings in shares of Helix Energy Solutions Group by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 8,959,806 shares of the oil and gas company's stock worth $88,611,000 after buying an additional 249,887 shares during the period. State Street Corp increased its holdings in shares of Helix Energy Solutions Group by 6.3% in the fourth quarter. State Street Corp now owns 6,263,543 shares of the oil and gas company's stock worth $39,272,000 after buying an additional 372,115 shares during the period. Invesco Ltd. lifted its stake in shares of Helix Energy Solutions Group by 58.6% in the 4th quarter. Invesco Ltd. now owns 4,968,078 shares of the oil and gas company's stock valued at $31,150,000 after acquiring an additional 1,835,536 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Helix Energy Solutions Group by 893.7% in the 3rd quarter. Millennium Management LLC now owns 4,025,701 shares of the oil and gas company's stock valued at $26,409,000 after acquiring an additional 3,620,563 shares during the last quarter. Institutional investors own 91.33% of the company's stock.

Helix Energy Solutions Group Company Profile

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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