Helix Energy Solutions Group (NYSE:HLX) Shares Up 7.6% on Strong Earnings

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Helix Energy Solutions Group Inc (NYSE:HLX)’s stock price shot up 7.6% during mid-day trading on Tuesday following a better than expected earnings announcement. The company traded as high as $9.66 and last traded at $8.94, 2,444,053 shares traded hands during trading. An increase of 117% from the average session volume of 1,125,757 shares. The stock had previously closed at $8.31.

The oil and gas company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.05. Helix Energy Solutions Group had a net margin of 4.27% and a return on equity of 1.93%. The firm had revenue of $212.61 million for the quarter, compared to the consensus estimate of $211.72 million. During the same period in the previous year, the firm posted $0.18 EPS. The business’s quarterly revenue was up .0% on a year-over-year basis.

A number of research firms have recently weighed in on HLX. Zacks Investment Research upgraded shares of Helix Energy Solutions Group from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a report on Friday. ValuEngine upgraded shares of Helix Energy Solutions Group from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $10.17.

In related news, CFO Erik Staffeldt sold 17,027 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $9.50, for a total transaction of $161,756.50. Following the transaction, the chief financial officer now directly owns 157,467 shares in the company, valued at approximately $1,495,936.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nancy K. Quinn sold 12,677 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $9.58, for a total transaction of $121,445.66. Following the transaction, the director now owns 104,466 shares in the company, valued at $1,000,784.28. The disclosure for this sale can be found here. Insiders own 5.45% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. First Trust Advisors LP increased its position in Helix Energy Solutions Group by 80.8% in the 1st quarter. First Trust Advisors LP now owns 393,282 shares of the oil and gas company’s stock valued at $3,111,000 after buying an additional 175,707 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in Helix Energy Solutions Group by 6.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 32,040 shares of the oil and gas company’s stock valued at $277,000 after buying an additional 1,919 shares in the last quarter. Dalton Greiner Hartman Maher & Co. increased its position in Helix Energy Solutions Group by 183.7% in the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 533,272 shares of the oil and gas company’s stock valued at $4,602,000 after buying an additional 345,310 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in Helix Energy Solutions Group in the 2nd quarter valued at about $106,000. Finally, Rothschild & Co. Asset Management US Inc. increased its position in Helix Energy Solutions Group by 4.0% in the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 3,150,800 shares of the oil and gas company’s stock valued at $27,191,000 after buying an additional 122,216 shares in the last quarter. Institutional investors own 94.51% of the company’s stock.

The firm has a market capitalization of $1.19 billion, a P/E ratio of 47.05 and a beta of 2.80. The business has a 50-day moving average of $8.16 and a 200 day moving average of $7.91. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.29.

About Helix Energy Solutions Group (NYSE:HLX)

Helix Energy Solutions Group, Inc, an offshore energy services company, provides specialty services to the offshore energy industry primarily in Brazil, the Gulf of Mexico, North Sea, the Asia Pacific, and West Africa regions. The company operates through three segments: Well Intervention, Robotics, and Production Facilities.

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