Helix Energy Solutions Group (NYSE:HLX) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Helix Energy Solutions Group, Inc. (NYSE:HLX) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.72 and traded as high as $8.80. Helix Energy Solutions Group shares last traded at $8.7250, with a volume of 1,207,894 shares trading hands.

Wall Street Analysts Forecast Growth

HLX has been the topic of a number of recent research reports. TD Cowen boosted their target price on Helix Energy Solutions Group from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Weiss Ratings downgraded Helix Energy Solutions Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 27th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Helix Energy Solutions Group currently has a consensus rating of “Hold” and an average price target of $11.50.

Helix Energy Solutions Group Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.92 and a quick ratio of 2.92. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 87.25 and a beta of 1.11. The stock’s 50 day simple moving average is $9.63 and its 200-day simple moving average is $8.72.

Helix Energy Solutions Group (NYSE:HLX) last announced its quarterly earnings results on Wednesday, April 22nd. The oil and gas company reported ($0.09) EPS for the quarter, hitting the consensus estimate of ($0.09). The company had revenue of $287.95 million for the quarter, compared to analyst estimates of $260.89 million. Helix Energy Solutions Group had a net margin of 1.10% and a return on equity of 1.82%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts expect that Helix Energy Solutions Group, Inc. will post 0.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Helix Energy Solutions Group

Several hedge funds have recently bought and sold shares of the business. Acuitas Investments LLC lifted its holdings in Helix Energy Solutions Group by 63.8% in the 3rd quarter. Acuitas Investments LLC now owns 681,610 shares of the oil and gas company’s stock worth $4,471,000 after purchasing an additional 265,604 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in Helix Energy Solutions Group during the third quarter worth approximately $799,000. American Century Companies Inc. grew its holdings in Helix Energy Solutions Group by 4.5% during the third quarter. American Century Companies Inc. now owns 5,399,153 shares of the oil and gas company’s stock valued at $35,418,000 after purchasing an additional 230,668 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in Helix Energy Solutions Group by 45.3% during the third quarter. First Eagle Investment Management LLC now owns 529,358 shares of the oil and gas company’s stock valued at $3,473,000 after purchasing an additional 165,100 shares during the last quarter. Finally, CSM Advisors LLC raised its position in shares of Helix Energy Solutions Group by 27.3% in the third quarter. CSM Advisors LLC now owns 550,260 shares of the oil and gas company’s stock valued at $3,608,000 after purchasing an additional 118,085 shares during the period. 91.33% of the stock is owned by institutional investors and hedge funds.

About Helix Energy Solutions Group

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.