TD Cowen Cuts Helix Energy Solutions Group (NYSE:HLX) Price Target to $15.00

Helix Energy Solutions Group (NYSE:HLX) had its price objective reduced by equities research analysts at TD Cowen from $16.00 to $15.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. TD Cowen’s price target points to a potential upside of 60.60% from the stock’s current price.

Several other analysts have also weighed in on HLX. BTIG Research lowered shares of Helix Energy Solutions Group from a “buy” rating to a “neutral” rating in a research note on Thursday. Raymond James started coverage on shares of Helix Energy Solutions Group in a report on Thursday, September 19th. They set a “strong-buy” rating and a $14.00 price objective on the stock.

Helix Energy Solutions Group Stock Performance

Shares of Helix Energy Solutions Group stock opened at $9.34 on Friday. The business has a 50-day moving average price of $10.38 and a two-hundred day moving average price of $10.97. Helix Energy Solutions Group has a 1-year low of $8.82 and a 1-year high of $13.05. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.42 billion, a P/E ratio of -44.48 and a beta of 2.41.

Helix Energy Solutions Group (NYSE:HLX) last released its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. Helix Energy Solutions Group had a positive return on equity of 4.35% and a negative net margin of 0.49%. The business had revenue of $342.42 million during the quarter, compared to analysts’ expectations of $354.74 million. During the same quarter last year, the firm posted $0.19 earnings per share. As a group, analysts anticipate that Helix Energy Solutions Group will post 0.29 EPS for the current year.

Insider Buying and Selling

In related news, CEO Owen E. Kratz sold 298,419 shares of Helix Energy Solutions Group stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $11.92, for a total value of $3,557,154.48. Following the completion of the sale, the chief executive officer now owns 7,171,860 shares of the company’s stock, valued at approximately $85,488,571.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Diversified Trust Co lifted its position in Helix Energy Solutions Group by 15.8% in the 1st quarter. Diversified Trust Co now owns 46,218 shares of the oil and gas company’s stock valued at $501,000 after acquiring an additional 6,296 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Helix Energy Solutions Group by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 23,186 shares of the oil and gas company’s stock valued at $251,000 after buying an additional 1,954 shares during the last quarter. Saxon Interests Inc. purchased a new position in shares of Helix Energy Solutions Group during the first quarter valued at approximately $192,000. Mesirow Financial Investment Management Inc. bought a new stake in Helix Energy Solutions Group during the first quarter worth $236,000. Finally, Principal Financial Group Inc. raised its position in Helix Energy Solutions Group by 1.6% in the 1st quarter. Principal Financial Group Inc. now owns 792,964 shares of the oil and gas company’s stock valued at $8,596,000 after buying an additional 12,293 shares during the last quarter. 91.33% of the stock is currently owned by institutional investors and hedge funds.

About Helix Energy Solutions Group

Helix Energy Solutions Group, Inc, together with its subsidiaries, an offshore energy services company, provides specialty services to the offshore energy industry in Brazil, the Gulf of Mexico, the East Coast of the United States, North Sea, the Asia Pacific, and West Africa regions. The company operates through four segments: Well Intervention, Robotics, Production Facilities, and Shallow Water Abandonment segments.