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 research note issued to investors on Tuesday. The brokerage presently has a $7.75 price target on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 10.87% from the company’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 analysts have also recently weighed in on the company. Simmons set a $10.00 price target on Helix Energy Solutions Group and gave the company a “buy” rating in a research report on Thursday, July 21st. Clarkson Capital upgraded Helix Energy Solutions Group from a “neutral” rating to a “buy” rating in a research report on Tuesday, July 26th. Iberia Capital upgraded Helix Energy Solutions Group to an “outperform” rating in a research report on Friday, August 19th. Stephens cut Helix Energy Solutions Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $9.00 to $8.00 in a research report on Friday, June 3rd. Finally, Credit Suisse Group AG reiterated a “buy” rating and issued a $10.00 price target on shares of Helix Energy Solutions Group in a research report on Wednesday, July 20th. One investment 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. The company presently has an average rating of “Buy” and a consensus price target of $8.98.
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Helix Energy Solutions Group (NYSE:HLX) traded down 0.99% during mid-day trading on Tuesday, hitting $6.99. The stock had a trading volume of 1,346,980 shares. The company’s market cap is $787.35 million. Helix Energy Solutions Group has a 12 month low of $2.60 and a 12 month high of $9.07. The firm’s 50-day moving average is $7.69 and its 200 day moving average is $7.11.
Helix Energy Solutions Group (NYSE:HLX) last released its earnings results on Tuesday, July 19th. The company reported ($0.10) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.10). Helix Energy Solutions Group had a negative return on equity of 2.49% and a negative net margin of 80.32%. During the same period in the prior year, the company earned ($0.03) earnings per share. Equities analysts anticipate that Helix Energy Solutions Group will post ($0.36) EPS for the current fiscal year.
Large investors have recently modified their holdings of the company. A.R.T. Advisors LLC purchased a new stake in shares of Helix Energy Solutions Group during the first quarter valued at about $1,131,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Helix Energy Solutions Group during the first quarter valued at about $4,300,000. Renaissance Technologies LLC purchased a new stake in shares of Helix Energy Solutions Group during the first quarter valued at about $417,000. Geode Capital Management LLC raised its stake in shares of Helix Energy Solutions Group by 14.3% in the first quarter. Geode Capital Management LLC now owns 694,135 shares of the company’s stock valued at $3,887,000 after buying an additional 87,062 shares during the period. Finally, Pacific Global Investment Management CO raised its stake in shares of Helix Energy Solutions Group by 9.8% in the first quarter. Pacific Global Investment Management CO now owns 46,000 shares of the company’s stock valued at $258,000 after buying an additional 4,090 shares during the period. 86.49% of the stock is owned by hedge funds and other institutional investors.
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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