Helix Energy Solutions Group (HLX) Stock Rating Upgraded by Zacks Investment Research

Helix Energy Solutions Group (NYSE:HLX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $9.25 price target on the oil and gas company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 14.48% from the company’s previous close.

According to Zacks, “Helix Energy Solutions Group, Inc. is an international offshore energy company that provides specialty services to the offshore energy industry, with a focus on their growing well intervention and robotics operations. Their Contracting Services seek to provide services and methodologies which they believe are critical to developing offshore reservoirs and maximizing production economics. Their operations goal is to deliver our services in a cost effective manner and with zero incidents. 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 issued reports on HLX. Bank of America lowered Helix Energy Solutions Group from a “neutral” rating to an “underperform” rating and set a $7.00 price target on the stock. in a research note on Tuesday, January 16th. Capital One Financial reissued an “overweight” rating on shares of Helix Energy Solutions Group in a research note on Tuesday, October 10th. Piper Jaffray Companies lowered Helix Energy Solutions Group from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $7.00 to $7.30 in a research note on Wednesday, September 27th. Finally, Cowen set a $10.00 price target on Helix Energy Solutions Group and gave the company a “buy” rating in a research note on Thursday, January 11th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $8.54.

Shares of Helix Energy Solutions Group (NYSE HLX) traded down $0.05 on Wednesday, reaching $8.08. The company’s stock had a trading volume of 783,206 shares, compared to its average volume of 1,165,929. Helix Energy Solutions Group has a 12-month low of $4.82 and a 12-month high of $8.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.02 and a current ratio of 2.02. The firm has a market capitalization of $1,200.97, a price-to-earnings ratio of -13.69 and a beta of 2.61.

In other news, COO Scott Andrew Sparks sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $6.75, for a total transaction of $67,500.00. Following the transaction, the chief operating officer now directly owns 151,530 shares of the company’s stock, valued at $1,022,827.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nancy K. Quinn sold 11,268 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $7.44, for a total value of $83,833.92. Following the transaction, the director now directly owns 104,107 shares in the company, valued at $774,556.08. The disclosure for this sale can be found here. 5.70% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Helix Energy Solutions Group by 3.9% during the second quarter. Vanguard Group Inc. now owns 13,135,138 shares of the oil and gas company’s stock worth $74,082,000 after purchasing an additional 487,976 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Helix Energy Solutions Group by 9.4% during the second quarter. Dimensional Fund Advisors LP now owns 12,407,257 shares of the oil and gas company’s stock worth $69,976,000 after purchasing an additional 1,065,628 shares during the period. GMT Capital Corp raised its position in shares of Helix Energy Solutions Group by 10.5% during the second quarter. GMT Capital Corp now owns 8,209,023 shares of the oil and gas company’s stock worth $42,441,000 after purchasing an additional 777,000 shares during the period. Victory Capital Management Inc. raised its position in shares of Helix Energy Solutions Group by 4.2% during the third quarter. Victory Capital Management Inc. now owns 6,338,291 shares of the oil and gas company’s stock worth $46,840,000 after purchasing an additional 256,250 shares during the period. Finally, Macquarie Group Ltd. raised its position in shares of Helix Energy Solutions Group by 17.2% during the third quarter. Macquarie Group Ltd. now owns 4,201,347 shares of the oil and gas company’s stock worth $31,048,000 after purchasing an additional 615,917 shares during the period. 85.97% of the stock is currently owned by institutional investors.

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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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