Helix Energy Solutions Group (NYSE:HLX) Releases Quarterly Earnings Results, Hits Expectations

Helix Energy Solutions Group (NYSE:HLX) posted its earnings results on Wednesday. The oil and gas company reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.09), Zacks reports. Helix Energy Solutions Group had a return on equity of 2.88% and a net margin of 2.39%.

Helix Energy Solutions Group Stock Up 2.6%

Helix Energy Solutions Group stock traded up $0.25 during trading hours on Wednesday, hitting $9.63. 1,481,129 shares of the stock traded hands, compared to its average volume of 1,984,635. The firm’s 50-day moving average price is $9.34 and its two-hundred day moving average price is $7.76. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.42 billion, a PE ratio of 45.85 and a beta of 1.15. Helix Energy Solutions Group has a one year low of $5.52 and a one year high of $10.75.

Institutional Trading of Helix Energy Solutions Group

Several large investors have recently bought and sold shares of HLX. Millennium Management LLC boosted its position in Helix Energy Solutions Group by 893.7% during the 3rd quarter. Millennium Management LLC now owns 4,025,701 shares of the oil and gas company’s stock valued at $26,409,000 after acquiring an additional 3,620,563 shares in the last quarter. Invesco Ltd. boosted its position in Helix Energy Solutions Group by 219.2% during the 2nd quarter. Invesco Ltd. now owns 3,198,950 shares of the oil and gas company’s stock valued at $19,961,000 after acquiring an additional 2,196,916 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in Helix Energy Solutions Group during the 2nd quarter valued at approximately $10,296,000. Hotchkis & Wiley Capital Management LLC bought a new stake in Helix Energy Solutions Group during the 3rd quarter valued at approximately $6,855,000. Finally, Balyasny Asset Management L.P. bought a new stake in Helix Energy Solutions Group during the 4th quarter valued at approximately $5,805,000. 91.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Helix Energy Solutions Group in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $10.50.

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.