Helix Energy Solutions Group, Inc. (NYSE:HLX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

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 issued reports on HLX. Cowen and Company reiterated an “outperform” rating and issued a $9.00 target price (down from $10.00) on shares of Helix Energy Solutions Group in a research note on Tuesday. Tudor Pickering upgraded shares of Helix Energy Solutions Group from a “hold” rating to a “buy” rating in a research note on Monday, April 3rd. ValuEngine downgraded shares of Helix Energy Solutions Group from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $8.00 target price (down from $15.00) on shares of Helix Energy Solutions Group in a research note on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $9.96.

Helix Energy Solutions Group (NYSE:HLX) traded up 4.97% during trading on Thursday, reaching $6.34. The company’s stock had a trading volume of 2,583,012 shares. The company’s 50 day moving average price is $5.54 and its 200 day moving average price is $6.80. Helix Energy Solutions Group has a 52 week low of $4.82 and a 52 week high of $11.87. The company’s market cap is $925.26 million.

Helix Energy Solutions Group (NYSE:HLX) last posted its quarterly earnings data on Sunday, July 23rd. The oil and gas company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.01. Helix Energy Solutions Group had a negative return on equity of 1.21% and a negative net margin of 12.09%. The business had revenue of $150.30 million for the quarter, compared to analyst estimates of $141.03 million. During the same quarter in the prior year, the company earned ($0.10) earnings per share. The company’s quarterly revenue was up 40.2% on a year-over-year basis. On average, equities analysts anticipate that Helix Energy Solutions Group will post ($0.20) earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in HLX. Municipal Employees Retirement System of Michigan boosted its position in shares of Helix Energy Solutions Group by 6.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 32,420 shares of the oil and gas company’s stock valued at $183,000 after buying an additional 1,920 shares in the last quarter. Aperio Group LLC boosted its position in shares of Helix Energy Solutions Group by 22.8% in the second quarter. Aperio Group LLC now owns 82,579 shares of the oil and gas company’s stock valued at $466,000 after buying an additional 15,334 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Helix Energy Solutions Group by 77.8% in the second quarter. State of Alaska Department of Revenue now owns 26,960 shares of the oil and gas company’s stock valued at $152,000 after buying an additional 11,800 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Helix Energy Solutions Group by 5.8% in the second quarter. Bank of Montreal Can now owns 86,402 shares of the oil and gas company’s stock valued at $487,000 after buying an additional 4,773 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its position in shares of Helix Energy Solutions Group by 48.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 38,600 shares of the oil and gas company’s stock valued at $300,000 after buying an additional 12,600 shares in the last quarter. 89.12% of the stock is currently owned by 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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Analyst Recommendations for Helix Energy Solutions Group (NYSE:HLX)

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