Raymond James Financial Reaffirms Outperform Rating for Helix Energy Solutions Group (NYSE:HLX)

Key Points

• Raymond James Financial has reaffirmed an "outperform" rating for Helix Energy Solutions Group (NYSE:HLX) with a new target price of $9.00, indicating a potential upside of 47.42% from its previous close.
• The company's latest quarterly earnings report showed a loss of ($0.02) earnings per share, missing the consensus estimate, as revenues reached $302.29 million compared to an expected $326.62 million.
• Helix Energy Solutions Group has experienced significant institutional investment increases, with 91.33% of its stock currently owned by institutional investors.
• As of the latest trading, HLX shares are priced at $6.11, with a market capitalization of approximately $925.09 million.

Helix Energy Solutions Group (NYSE:HLX - Get Free Report)'s stock had its "outperform" rating reaffirmed by research analysts at Raymond James Financial in a report issued on Friday,Benzinga reports. They currently have a $9.00 target price on the oil and gas company's stock, down from their previous target price of $10.00. Raymond James Financial's price objective would indicate a potential upside of 47.42% from the company's previous close.

Helix Energy Solutions Group Price Performance

Shares of HLX stock traded up $0.12 during trading on Friday, hitting $6.11. The company had a trading volume of 687,556 shares, compared to its average volume of 1,817,137. 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 stock's 50-day moving average is $6.54 and its two-hundred day moving average is $7.33. The stock has a market capitalization of $925.09 million, a price-to-earnings ratio of 19.08 and a beta of 1.57. Helix Energy Solutions Group has a 52 week low of $5.52 and a 52 week high of $12.89.

Helix Energy Solutions Group (NYSE:HLX - Get Free Report) last posted its quarterly earnings data 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 3.24% and a net margin of 3.92%. The company had revenue of $302.29 million during the quarter, compared to the consensus estimate of $326.62 million. As a group, analysts predict that Helix Energy Solutions Group will post 0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its stake in shares of Helix Energy Solutions Group by 54.0% during 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. SG Americas Securities LLC lifted its position in Helix Energy Solutions Group by 8.2% during the first 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 period. Wellington Management Group LLP lifted its position in 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 buying an additional 396,666 shares during the period. Teacher Retirement System of Texas purchased a new position in Helix Energy Solutions Group during the first quarter valued at $382,000. Finally, Acuitas Investments LLC lifted its position in Helix Energy Solutions Group by 21.1% during the first quarter. Acuitas Investments LLC now owns 416,006 shares of the oil and gas company's stock valued at $3,457,000 after buying an additional 72,604 shares during the period. 91.33% of the stock is currently owned by institutional investors.

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.

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