Helix Energy Solutions Group (NYSE:HLX) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Helix Energy Solutions Group (NYSE:HLX) announced its quarterly earnings results on Thursday. The oil and gas company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02, Zacks reports. The firm had revenue of $304.02 million during the quarter, compared to analysts’ expectations of $314.56 million. Helix Energy Solutions Group had a net margin of 1.10% and a return on equity of 1.82%.

Helix Energy Solutions Group Stock Performance

NYSE HLX traded down $0.19 during trading on Friday, reaching $9.62. The company’s stock had a trading volume of 1,515,254 shares, compared to its average volume of 1,856,194. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.92 and a current ratio of 2.92. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 96.16 and a beta of 1.14. Helix Energy Solutions Group has a twelve month low of $5.58 and a twelve month high of $10.75. The business’s fifty day moving average price is $9.25 and its 200-day moving average price is $9.25.

Hedge Funds Weigh In On Helix Energy Solutions Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CIBC Bancorp USA Inc. acquired a new stake in Helix Energy Solutions Group in the third quarter valued at about $97,000. Brooklyn Investment Group increased its position in Helix Energy Solutions Group by 510.8% during the 3rd quarter. Brooklyn Investment Group now owns 16,882 shares of the oil and gas company’s stock worth $111,000 after purchasing an additional 14,118 shares during the period. Envestnet Asset Management Inc. acquired a new position in Helix Energy Solutions Group during the 3rd quarter worth approximately $129,000. Tower Research Capital LLC TRC raised its stake in shares of Helix Energy Solutions Group by 85.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 15,215 shares of the oil and gas company’s stock worth $95,000 after buying an additional 7,020 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in shares of Helix Energy Solutions Group by 10.0% in the 2nd quarter. Corient Private Wealth LLC now owns 24,104 shares of the oil and gas company’s stock valued at $150,000 after buying an additional 2,183 shares during the period. Hedge funds and other institutional investors own 91.33% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on HLX shares. TD Cowen boosted their target price on Helix Energy Solutions Group from $13.00 to $14.00 and gave the company a “buy” rating in a report on Friday, April 24th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Helix Energy Solutions Group in a research report on Friday, July 24th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $14.00.

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.