Helix Energy Solutions Group (NYSE:HLX) Earns “Buy” Rating from Bank of America

Bank of America reiterated their buy rating on shares of Helix Energy Solutions Group (NYSE:HLX) in a research note published on Tuesday, The Fly reports. The brokerage currently has a $11.00 price target on the oil and gas company’s stock.

Other analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Helix Energy Solutions Group from a strong-buy rating to a hold rating in a research report on Friday, October 25th. ValuEngine downgraded shares of Helix Energy Solutions Group from a hold rating to a sell rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $10.38.

HLX stock traded up $0.12 during trading on Tuesday, hitting $8.44. 832,216 shares of the stock traded hands, compared to its average volume of 1,188,153. Helix Energy Solutions Group has a 1 year low of $5.05 and a 1 year high of $9.85. The firm’s 50 day moving average is $8.37 and its two-hundred day moving average is $7.98. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 44.42, a price-to-earnings-growth ratio of 0.96 and a beta of 2.77. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64.

Helix Energy Solutions Group (NYSE:HLX) last announced its quarterly earnings data on Monday, October 21st. The oil and gas company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.05. Helix Energy Solutions Group had a net margin of 4.88% and a return on equity of 2.20%. The company had revenue of $212.61 million for the quarter, compared to the consensus estimate of $211.72 million. During the same period in the prior year, the firm posted $0.18 EPS. Helix Energy Solutions Group’s revenue for the quarter was up .0% on a year-over-year basis. As a group, analysts anticipate that Helix Energy Solutions Group will post 0.35 EPS for the current fiscal year.

In other Helix Energy Solutions Group 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 owns 157,467 shares in the company, valued at approximately $1,495,936.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 approximately $1,000,784.28. The disclosure for this sale can be found here. Insiders have sold a total of 44,704 shares of company stock worth $417,902 in the last 90 days. Company insiders own 5.45% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in Helix Energy Solutions Group by 0.8% during the 2nd quarter. BlackRock Inc. now owns 20,829,899 shares of the oil and gas company’s stock valued at $179,762,000 after acquiring an additional 159,083 shares during the period. Vanguard Group Inc. lifted its stake in Helix Energy Solutions Group by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 15,151,403 shares of the oil and gas company’s stock valued at $130,756,000 after acquiring an additional 212,471 shares during the period. Rothschild & Co. Asset Management US Inc. lifted its stake in shares of 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 worth $27,191,000 after purchasing an additional 122,216 shares during the period. Public Employees Retirement Association of Colorado lifted its stake in shares of Helix Energy Solutions Group by 12.2% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,016,047 shares of the oil and gas company’s stock worth $17,398,000 after purchasing an additional 219,392 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Helix Energy Solutions Group by 3.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,947,935 shares of the oil and gas company’s stock worth $16,810,000 after purchasing an additional 59,507 shares during the period. Institutional investors and hedge funds own 93.76% of the company’s stock.

About Helix Energy Solutions Group

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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