Helix Energy Solutions Group (NYSE:HLX) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Helix Energy Solutions Group, Inc. (NYSE:HLX) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.36 and traded as high as $10.19. Helix Energy Solutions Group shares last traded at $10.0750, with a volume of 1,357,136 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Helix Energy Solutions Group in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Helix Energy Solutions Group currently has an average rating of “Moderate Buy” and a consensus target price of $10.50.

Helix Energy Solutions Group Stock Up 1.6%

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.75 and a quick ratio of 2.75. The business has a 50 day moving average price of $8.72 and a 200 day moving average price of $7.36. The firm has a market capitalization of $1.48 billion, a P/E ratio of 47.98 and a beta of 1.21.

Helix Energy Solutions Group (NYSE:HLX) last announced its earnings results on Monday, February 23rd. The oil and gas company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.08. The firm had revenue of $334.16 million during the quarter, compared to the consensus estimate of $304.67 million. Helix Energy Solutions Group had a return on equity of 2.88% and a net margin of 2.39%.The business’s revenue was down 5.9% on a year-over-year basis. On average, analysts predict that Helix Energy Solutions Group, Inc. will post 0.26 earnings per share for the current year.

Institutional Investors Weigh In On Helix Energy Solutions Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP bought a new position in Helix Energy Solutions Group during the fourth quarter worth $27,000. Royal Bank of Canada boosted its holdings in Helix Energy Solutions Group by 175.9% in the 4th quarter. Royal Bank of Canada now owns 6,993 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 4,458 shares during the period. Drucker Wealth 3.0 LLC bought a new stake in Helix Energy Solutions Group in the 3rd quarter valued at $66,000. Ballentine Partners LLC acquired a new stake in Helix Energy Solutions Group in the 3rd quarter worth $70,000. Finally, Federated Hermes Inc. acquired a new stake in Helix Energy Solutions Group in the 3rd quarter worth $74,000. Institutional investors and hedge funds own 91.33% of the company’s stock.

Helix Energy Solutions Group Company Profile

Helix Energy Solutions Group, Inc (NYSE: HLX) is a Houston-based provider of offshore well intervention and robotics services to the global energy industry. The company specializes in extending the productive life of subsea wells through hydraulic workover systems, coiled tubing operations and riser-based wireline services. In addition, Helix offers remotely operated vehicle (ROV) support, inspection, maintenance and repair for subsea infrastructure.

Operating through three core business segments—Well Intervention, Robotics & Subsea Services and Production Facilities—Helix deploys purpose-built vessels, specialized equipment and engineering expertise to execute complex offshore projects.