Zacks Investment Research cut shares of Helix Energy Solutions Group (NYSE:HLX) from a strong-buy rating to a hold rating in a research report released on Wednesday morning.
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. “
Separately, ValuEngine downgraded shares of Helix Energy Solutions Group from a buy rating to a hold rating in a research report on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, two have issued 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 $9.20.
Shares of HLX opened at $9.49 on Wednesday. The firm has a market cap of $1.42 billion, a PE ratio of -63.27 and a beta of 2.56. Helix Energy Solutions Group has a 1-year low of $5.44 and a 1-year high of $10.41. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.50 and a current ratio of 2.50.
Helix Energy Solutions Group (NYSE:HLX) last posted its earnings results on Monday, July 23rd. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. The company had revenue of $204.63 million during the quarter, compared to the consensus estimate of $183.54 million. Helix Energy Solutions Group had a net margin of 9.79% and a return on equity of 1.05%. The firm’s quarterly revenue was up 36.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.03) earnings per share. sell-side analysts anticipate that Helix Energy Solutions Group will post 0.19 EPS for the current fiscal year.
In other Helix Energy Solutions Group news, CEO Owen E. Kratz sold 271,532 shares of the company’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $10.09, for a total value of $2,739,757.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Scott Andrew Sparks sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $9.82, for a total transaction of $98,200.00. Following the completion of the transaction, the chief operating officer now owns 196,109 shares of the company’s stock, valued at approximately $1,925,790.38. The disclosure for this sale can be found here. Insiders have sold 1,058,340 shares of company stock valued at $10,389,768 over the last 90 days. 5.85% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its position in shares of Helix Energy Solutions Group by 6.2% in the second quarter. BlackRock Inc. now owns 19,667,937 shares of the oil and gas company’s stock worth $163,833,000 after acquiring an additional 1,156,169 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Helix Energy Solutions Group by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 12,545,557 shares of the oil and gas company’s stock worth $72,639,000 after acquiring an additional 33,460 shares during the period. Victory Capital Management Inc. raised its position in shares of Helix Energy Solutions Group by 3.9% in the second quarter. Victory Capital Management Inc. now owns 6,958,736 shares of the oil and gas company’s stock worth $57,966,000 after acquiring an additional 262,605 shares during the period. Macquarie Group Ltd. raised its position in shares of Helix Energy Solutions Group by 0.3% in the second quarter. Macquarie Group Ltd. now owns 4,449,931 shares of the oil and gas company’s stock worth $37,068,000 after acquiring an additional 11,664 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Helix Energy Solutions Group by 725.5% in the first quarter. Legal & General Group Plc now owns 2,370,722 shares of the oil and gas company’s stock worth $13,720,000 after acquiring an additional 2,083,536 shares during the period. Institutional investors and hedge funds own 89.47% of the company’s stock.
About Helix Energy Solutions Group
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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