Helix Energy Solutions Group (NYSE:HLX) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Helix Energy Solutions Group (NYSE:HLX) announced its earnings results on Thursday. The oil and gas company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02, Zacks reports. Helix Energy Solutions Group had a net margin of 3.04% and a return on equity of 2.96%. The company had revenue of $304.02 million during the quarter, compared to the consensus estimate of $314.56 million.

Helix Energy Solutions Group Stock Performance

NYSE HLX traded down $0.19 on Friday, hitting $9.62. 1,515,254 shares of the stock traded hands, compared to its average volume of 1,415,053. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.92 and a current ratio of 2.92. The business’s fifty day moving average is $9.26 and its two-hundred day moving average is $9.25. Helix Energy Solutions Group has a 12 month low of $5.58 and a 12 month high of $10.75. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 30.66 and a beta of 1.14.

Wall Street Analyst Weigh In

Several equities research analysts have commented on HLX shares. TD Cowen increased their price objective on shares of 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 reissued a “sell (d+)” rating on shares of Helix Energy Solutions Group in a research report on Friday, July 24th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $14.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. CIBC Bancorp USA Inc. bought a new position in Helix Energy Solutions Group in the 3rd quarter worth about $97,000. Brooklyn Investment Group increased its position in shares of Helix Energy Solutions Group by 510.8% during the third quarter. Brooklyn Investment Group now owns 16,882 shares of the oil and gas company’s stock valued at $111,000 after buying an additional 14,118 shares during the period. Envestnet Asset Management Inc. purchased a new stake in shares of Helix Energy Solutions Group in the third quarter worth about $129,000. Tower Research Capital LLC TRC boosted its position in shares of Helix Energy Solutions Group by 85.7% in the second quarter. Tower Research Capital LLC TRC now owns 15,215 shares of the oil and gas company’s stock valued at $95,000 after acquiring an additional 7,020 shares during the period. Finally, Corient Private Wealth LLC boosted its position in shares of Helix Energy Solutions Group by 10.0% in the second quarter. Corient Private Wealth LLC now owns 24,104 shares of the oil and gas company’s stock valued at $150,000 after acquiring an additional 2,183 shares during the period. Institutional investors own 91.33% of the company’s stock.

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.