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

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. “

A number of other brokerages have also recently weighed in on HLX. Piper Jaffray Companies cut shares of Helix Energy Solutions Group from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $7.00 to $7.30 in a research report on Wednesday, September 27th. BidaskClub raised shares of Helix Energy Solutions Group from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Cowen and Company reaffirmed a “buy” rating and set a $9.00 price target on shares of Helix Energy Solutions Group in a research report on Friday, September 1st. Capital One Financial Corporation reaffirmed an “overweight” rating on shares of Helix Energy Solutions Group in a research report on Tuesday, October 10th. Finally, Bank of America Corporation started coverage on shares of Helix Energy Solutions Group in a research report on Tuesday, September 5th. They set a “neutral” rating and a $7.00 price target for the company. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $9.33.

Helix Energy Solutions Group (NYSE HLX) traded down 0.98% on Tuesday, hitting $7.04. The stock had a trading volume of 2,026,297 shares. The firm’s market cap is $1.04 billion. Helix Energy Solutions Group has a one year low of $4.82 and a one year high of $11.87. The company’s 50-day moving average price is $7.31 and its 200 day moving average price is $6.29.

Helix Energy Solutions Group (NYSE:HLX) last released its quarterly earnings data on Sunday, October 22nd. The oil and gas company reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02. 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 $163.30 million during the quarter, compared to the consensus estimate of $168.97 million. During the same period in the prior year, the firm posted $0.10 EPS. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. Analysts expect that Helix Energy Solutions Group will post ($0.13) earnings per share for the current year.

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A number of large investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC boosted its position in Helix Energy Solutions Group by 0.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 13,794 shares of the oil and gas company’s stock valued at $107,000 after buying an additional 109 shares during the last quarter. Capstone Asset Management Co. boosted its position in Helix Energy Solutions Group by 0.4% in the 1st quarter. Capstone Asset Management Co. now owns 25,821 shares of the oil and gas company’s stock valued at $201,000 after buying an additional 110 shares during the last quarter. Green Square Capital LLC boosted its position in Helix Energy Solutions Group by 1.7% in the 2nd quarter. Green Square Capital LLC now owns 21,392 shares of the oil and gas company’s stock valued at $121,000 after buying an additional 359 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Helix Energy Solutions Group by 1.7% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 22,250 shares of the oil and gas company’s stock valued at $181,000 after buying an additional 380 shares during the last quarter. Finally, Amalgamated Bank boosted its position in Helix Energy Solutions Group by 5.3% in the 2nd quarter. Amalgamated Bank now owns 11,980 shares of the oil and gas company’s stock valued at $101,000 after buying an additional 604 shares during the last quarter. 86.77% of the stock is owned by institutional investors.

About Helix Energy Solutions Group

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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