Helix Energy Solutions Group (NYSE:HLX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Zacks.com reports. The brokerage currently has a $3.00 price objective on the oil and gas company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 19.52% from the company’s previous close.
According to Zacks, “Helix Energy Solutions Group, Inc. is an international offshore energy company that provides specialty services to the offshore energy industry, with a focus on their growing well intervention and robotics operations. Their Contracting Services seek to provide services and methodologies which they believe are critical to developing offshore reservoirs and maximizing production economics. Their operations goal is to deliver our services in a cost effective manner and with zero incidents. The company seeks to align the interests of the producer and the contractor by investing in mature offshore oil and gas properties, hub production facilities and proven undeveloped reserve plays where Helix Energy Solutions Group adds value by deploying vessels from its diverse contracting fleet. This unique integration of marine contracting and oil and gas operations is designed to add stability to revenues and earnings in an industry as cyclical as energy. “
A number of other brokerages have also issued reports on HLX. Bank of America raised Helix Energy Solutions Group from a “neutral” rating to a “buy” rating and set a $4.00 price target for the company in a research note on Thursday, May 28th. Piper Sandler raised Helix Energy Solutions Group from a “neutral” rating to an “overweight” rating and increased their price target for the company from $3.50 to $6.00 in a research note on Thursday, July 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $4.50.
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HLX traded down $0.27 during trading hours on Wednesday, hitting $2.51. The company’s stock had a trading volume of 3,378,791 shares, compared to its average volume of 3,223,612. Helix Energy Solutions Group has a fifty-two week low of $0.99 and a fifty-two week high of $10.00. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $376.65 million, a PE ratio of 11.95 and a beta of 3.55. The company has a 50-day simple moving average of $3.73 and a 200 day simple moving average of $3.10.
Helix Energy Solutions Group (NYSE:HLX) last posted its earnings results on Wednesday, July 22nd. The oil and gas company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.05. Helix Energy Solutions Group had a return on equity of 1.52% and a net margin of 4.36%. The firm had revenue of $199.15 million for the quarter, compared to analysts’ expectations of $173.67 million. During the same period last year, the firm earned $0.11 EPS. Research analysts expect that Helix Energy Solutions Group will post -0.17 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio boosted its stake in shares of Helix Energy Solutions Group by 27.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 10,852 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 2,364 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Helix Energy Solutions Group by 131.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 12,005 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 6,819 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Helix Energy Solutions Group by 128.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,486 shares of the oil and gas company’s stock worth $61,000 after acquiring an additional 9,844 shares in the last quarter. Diversified Trust Co bought a new stake in shares of Helix Energy Solutions Group during the 2nd quarter worth $63,000. Finally, ProShare Advisors LLC boosted its stake in shares of Helix Energy Solutions Group by 105.9% during the 2nd quarter. ProShare Advisors LLC now owns 21,779 shares of the oil and gas company’s stock worth $76,000 after acquiring an additional 11,201 shares in the last quarter. 83.10% of the stock is owned by hedge funds and other institutional investors.
Helix Energy Solutions Group Company Profile
Helix Energy Solutions Group, Inc, an offshore energy services company, provides specialty services to the offshore energy industry primarily in Brazil, the Gulf of Mexico, North Sea, the Asia Pacific, and West Africa regions. The company operates through three segments: Well Intervention, Robotics, and Production Facilities.
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