Helix Energy Solutions Group (NYSE:HLX) Stock Price Up 5.5% – Here’s Why

Helix Energy Solutions Group, Inc. (NYSE:HLX)’s share price was up 5.5% during mid-day trading on Wednesday . The stock traded as high as $9.13 and last traded at $9.1650. Approximately 249,104 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,918,475 shares. The stock had previously closed at $8.69.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on HLX shares. TD Cowen increased their price objective on Helix Energy Solutions Group from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Weiss Ratings cut Helix Energy Solutions Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $11.50.

Helix Energy Solutions Group Stock Performance

The firm’s fifty day simple moving average is $9.50 and its 200 day simple moving average is $8.81. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 90.65 and a beta of 1.12. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.92 and a quick ratio of 2.92.

Helix Energy Solutions Group (NYSE:HLX) last issued its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). Helix Energy Solutions Group had a net margin of 1.10% and a return on equity of 1.82%. The business had revenue of $287.95 million during the quarter, compared to the consensus estimate of $260.89 million. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, sell-side analysts forecast that Helix Energy Solutions Group, Inc. will post 0.33 EPS for the current year.

Hedge Funds Weigh In On Helix Energy Solutions Group

Large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in Helix Energy Solutions Group by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 8,959,806 shares of the oil and gas company’s stock valued at $88,611,000 after purchasing an additional 249,887 shares in the last quarter. State Street Corp grew its holdings in shares of Helix Energy Solutions Group by 6.3% during the 4th quarter. State Street Corp now owns 6,263,543 shares of the oil and gas company’s stock valued at $39,272,000 after acquiring an additional 372,115 shares in the last quarter. Invesco Ltd. increased its stake in shares of Helix Energy Solutions Group by 58.6% in the fourth quarter. Invesco Ltd. now owns 4,968,078 shares of the oil and gas company’s stock worth $31,150,000 after acquiring an additional 1,835,536 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Helix Energy Solutions Group by 893.7% during the third quarter. Millennium Management LLC now owns 4,025,701 shares of the oil and gas company’s stock worth $26,409,000 after acquiring an additional 3,620,563 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Helix Energy Solutions Group by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 3,278,916 shares of the oil and gas company’s stock worth $20,561,000 after acquiring an additional 14,354 shares in the last quarter. Institutional investors and hedge funds 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.