Helix Energy Solutions Group (NYSE:HLX) Lowered to “Strong Sell” Rating by Zacks Research

Helix Energy Solutions Group (NYSE:HLX) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday,Zacks.com reports.

HLX has been the topic of several other research reports. Raymond James Financial reaffirmed an “outperform” rating and set a $9.00 price target (down previously from $10.00) on shares of Helix Energy Solutions Group in a research note on Friday, July 25th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Helix Energy Solutions Group in a research note on Tuesday, October 14th. Finally, Wall Street Zen lowered Helix Energy Solutions Group from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Two analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $12.00.

Helix Energy Solutions Group Trading Up 5.1%

Shares of HLX opened at $6.97 on Wednesday. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.19. Helix Energy Solutions Group has a 12-month low of $5.52 and a 12-month high of $11.48. The firm has a market capitalization of $1.02 billion, a PE ratio of 24.88 and a beta of 1.53. The stock’s fifty day simple moving average is $6.40 and its 200-day simple moving average is $6.43.

Helix Energy Solutions Group (NYSE:HLX) last issued its quarterly earnings results on Wednesday, October 22nd. The oil and gas company reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. Helix Energy Solutions Group had a return on equity of 2.76% and a net margin of 3.25%.The business had revenue of $376.96 million for the quarter, compared to analyst estimates of $361.93 million. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, research analysts predict that Helix Energy Solutions Group will post 0.26 earnings per share for the current year.

Hedge Funds Weigh In On Helix Energy Solutions Group

Hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. lifted its stake in Helix Energy Solutions Group by 243.4% in the second quarter. Bessemer Group Inc. now owns 5,045 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 3,576 shares during the period. AlphaQuest LLC raised its position in shares of Helix Energy Solutions Group by 594,600.0% during the first quarter. AlphaQuest LLC now owns 5,947 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 5,946 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Helix Energy Solutions Group by 43.1% during the first quarter. Smartleaf Asset Management LLC now owns 7,053 shares of the oil and gas company’s stock worth $59,000 after purchasing an additional 2,123 shares during the period. XTX Topco Ltd acquired a new stake in shares of Helix Energy Solutions Group during the second quarter worth about $80,000. Finally, Inceptionr LLC acquired a new stake in shares of Helix Energy Solutions Group during the second quarter worth about $84,000. Institutional investors and hedge funds own 91.33% of the company’s stock.

Helix Energy Solutions Group Company Profile

Helix Energy Solutions Group, Inc, 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.