Helix Energy Solutions Group (NYSE:HLX) Shares Gap Up to $9.84

Shares of Helix Energy Solutions Group, Inc. (NYSE:HLX) gapped up prior to trading on Thursday . The stock had previously closed at $9.84, but opened at $10.55. Helix Energy Solutions Group shares last traded at $10.40, with a volume of 355,381 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Raymond James assumed coverage on shares of Helix Energy Solutions Group in a research report on Thursday. They issued a “strong-buy” rating and a $14.00 price objective on the stock. TD Cowen boosted their price objective on shares of Helix Energy Solutions Group from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th.

Helix Energy Solutions Group Price Performance

The company has a debt-to-equity ratio of 0.21, a current ratio of 2.08 and a quick ratio of 2.08. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -50.43 and a beta of 2.42. The business’s 50-day simple moving average is $10.97 and its two-hundred day simple moving average is $10.98.

Helix Energy Solutions Group (NYSE:HLX) last announced its earnings results on Wednesday, July 24th. The oil and gas company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. Helix Energy Solutions Group had a negative net margin of 0.49% and a positive return on equity of 4.35%. The business had revenue of $364.80 million during the quarter, compared to the consensus estimate of $353.19 million. During the same quarter last year, the firm earned $0.11 earnings per share.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HLX. Point72 Asia Singapore Pte. Ltd. purchased a new position in Helix Energy Solutions Group during the second quarter worth about $45,000. Pineridge Advisors LLC purchased a new position in Helix Energy Solutions Group during the fourth quarter worth about $54,000. Lindbrook Capital LLC boosted its holdings in Helix Energy Solutions Group by 1,037.6% during the first quarter. Lindbrook Capital LLC now owns 5,563 shares of the oil and gas company’s stock worth $60,000 after purchasing an additional 5,074 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Helix Energy Solutions Group by 24.0% during the second quarter. GAMMA Investing LLC now owns 6,379 shares of the oil and gas company’s stock worth $76,000 after purchasing an additional 1,236 shares during the last quarter. Finally, CWM LLC raised its position in Helix Energy Solutions Group by 10.4% in the second quarter. CWM LLC now owns 9,043 shares of the oil and gas company’s stock worth $108,000 after acquiring an additional 850 shares during the period. 91.33% of the stock is currently owned by institutional investors and hedge funds.

About Helix Energy Solutions Group

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.