Helix Energy Solutions Group (NYSE:HLX) Reaches New 12-Month High – Still a Buy?

Helix Energy Solutions Group, Inc. (NYSE:HLX)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $10.75 and last traded at $10.5760, with a volume of 6569411 shares changing hands. The stock had previously closed at $9.07.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HLX. Weiss Ratings restated a “hold (c-)” rating on shares of Helix Energy Solutions Group in a research report on Monday, December 29th. Zacks Research upgraded shares of Helix Energy Solutions Group from a “strong sell” rating to a “hold” rating in a report on Thursday, November 20th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.50.

Helix Energy Solutions Group Stock Performance

The stock has a fifty day moving average price of $7.63 and a 200 day moving average price of $6.92. The company has a current ratio of 2.75, a quick ratio of 2.54 and a debt-to-equity ratio of 0.19. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 43.05 and a beta of 1.25.

Helix Energy Solutions Group (NYSE:HLX) last posted its quarterly earnings data on Monday, February 23rd. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.08. The business had revenue of $334.16 million during the quarter, compared to the consensus estimate of $304.67 million. Helix Energy Solutions Group had a net margin of 2.39% and a return on equity of 2.88%. Helix Energy Solutions Group’s quarterly revenue was down 5.9% on a year-over-year basis. As a group, analysts predict that Helix Energy Solutions Group, Inc. will post 0.26 earnings per share for the current year.

Institutional Investors Weigh In On Helix Energy Solutions Group

A number of institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC raised its holdings in 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 in the last quarter. Principal Financial Group Inc. lifted its position in Helix Energy Solutions Group by 109.8% in the third quarter. Principal Financial Group Inc. now owns 4,804,147 shares of the oil and gas company’s stock worth $31,515,000 after purchasing an additional 2,514,402 shares during the period. Invesco Ltd. increased its holdings in Helix Energy Solutions Group by 219.2% in the 2nd quarter. Invesco Ltd. now owns 3,198,950 shares of the oil and gas company’s stock valued at $19,961,000 after buying an additional 2,196,916 shares during the period. Adage Capital Partners GP L.L.C. acquired a new position in shares of Helix Energy Solutions Group in the 2nd quarter valued at $10,296,000. Finally, Cerity Partners LLC bought a new position in shares of Helix Energy Solutions Group during the 2nd quarter worth about $8,108,000. 91.33% of the stock is owned by institutional investors and hedge funds.

About Helix Energy Solutions Group

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.