Helix Energy Solutions Group Inc. (HLX) Lifted to Buy at Zacks Investment Research
Helix Energy Solutions Group Inc. (NYSE:HLX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage currently has a $7.75 price target on the stock. Zacks Investment Research’s target price indicates a potential upside of 10.87% from the stock’s current price.
According to Zacks, “Helix Energy Solutions Group Inc., is a leading marine contractor and operator of offshore oil and gas properties and production facilities. 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. “
Several other equities research analysts also recently weighed in on the stock. Iberia Capital raised shares of Helix Energy Solutions Group to an “outperform” rating in a research note on Friday, August 19th. Clarkson Capital upgraded shares of Helix Energy Solutions Group from a “neutral” rating to a “buy” rating in a report on Tuesday, July 26th. Simmons set a $10.00 price objective on shares of Helix Energy Solutions Group and gave the company a “buy” rating in a report on Thursday, July 21st. Credit Suisse Group AG reiterated a “buy” rating and set a $10.00 price objective on shares of Helix Energy Solutions Group in a report on Wednesday, July 20th. Finally, Stephens cut shares of Helix Energy Solutions Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $9.00 to $8.00 in a report on Friday, June 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. Helix Energy Solutions Group has a consensus rating of “Buy” and an average target price of $8.98.
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Helix Energy Solutions Group (NYSE:HLX) traded down 0.99% on Tuesday, reaching $6.99. 1,346,980 shares of the company’s stock traded hands. The stock’s market cap is $787.35 million. The company’s 50 day moving average is $7.69 and its 200-day moving average is $7.11. Helix Energy Solutions Group has a 52-week low of $2.60 and a 52-week high of $9.07.
Helix Energy Solutions Group (NYSE:HLX) last posted its quarterly earnings results on Tuesday, July 19th. The company reported ($0.10) earnings per share for the quarter, meeting the consensus estimate of ($0.10). Helix Energy Solutions Group had a negative net margin of 80.32% and a negative return on equity of 2.49%. During the same period in the prior year, the company earned ($0.03) earnings per share. Equities analysts expect that Helix Energy Solutions Group will post ($0.36) EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank boosted its position in Helix Energy Solutions Group by 5.3% in the second quarter. Amalgamated Bank now owns 11,980 shares of the company’s stock worth $101,000 after buying an additional 604 shares during the last quarter. Raymond James & Associates bought a new position in Helix Energy Solutions Group during the second quarter worth $103,000. Virginia Retirement Systems ET AL bought a new position in Helix Energy Solutions Group during the second quarter worth $110,000. Mason Street Advisors LLC bought a new position in Helix Energy Solutions Group during the second quarter worth $132,000. Finally, Public Employees Retirement System of Ohio boosted its position in Helix Energy Solutions Group by 15.8% in the second quarter. Public Employees Retirement System of Ohio now owns 20,293 shares of the company’s stock worth $137,000 after buying an additional 2,762 shares during the last quarter. Hedge funds and other institutional investors own 86.49% of the company’s stock.
Helix Energy Solutions Group Company Profile
Helix Energy Solutions Group, Inc is an international offshore energy services company. The Company provides services to the offshore energy industry, with a focus on well intervention and robotics operations. The Company operates in three segments: Well Intervention, Robotics and Production Facilities.
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