BTIG Research Downgrades Helix Energy Solutions Group (NYSE:HLX) to Neutral

BTIG Research lowered shares of Helix Energy Solutions Group (NYSE:HLX) from a buy rating to a neutral rating in a research note released on Thursday morning, MarketBeat reports.

Separately, Raymond James initiated coverage on Helix Energy Solutions Group in a research report on Thursday, September 19th. They set a “strong-buy” rating and a $14.00 target price for the company.

Helix Energy Solutions Group Stock Up 1.0 %

NYSE HLX opened at $9.34 on Thursday. Helix Energy Solutions Group has a 1-year low of $8.82 and a 1-year high of $13.05. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -44.48 and a beta of 2.41. The stock’s 50 day moving average is $10.38 and its two-hundred day moving average is $10.96. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.21.

Helix Energy Solutions Group (NYSE:HLX) last issued its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. The firm had revenue of $342.42 million for the quarter, compared to analysts’ expectations of $354.74 million. Helix Energy Solutions Group had a negative net margin of 0.49% and a positive return on equity of 4.35%. During the same period in the prior year, the firm earned $0.19 earnings per share. Equities analysts forecast that Helix Energy Solutions Group will post 0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Helix Energy Solutions Group news, CEO Owen E. Kratz sold 298,419 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $11.92, for a total transaction of $3,557,154.48. Following the transaction, the chief executive officer now owns 7,171,860 shares of the company’s stock, valued at $85,488,571.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 6.37% of the company’s stock.

Hedge Funds Weigh In On Helix Energy Solutions Group

Several institutional investors and hedge funds have recently modified their holdings of HLX. Diversified Trust Co increased its position in Helix Energy Solutions Group by 15.8% during the first quarter. Diversified Trust Co now owns 46,218 shares of the oil and gas company’s stock worth $501,000 after acquiring an additional 6,296 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Helix Energy Solutions Group by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 23,186 shares of the oil and gas company’s stock worth $251,000 after purchasing an additional 1,954 shares during the period. Saxon Interests Inc. acquired a new stake in shares of Helix Energy Solutions Group in the first quarter valued at approximately $192,000. Mesirow Financial Investment Management Inc. bought a new stake in shares of Helix Energy Solutions Group in the first quarter valued at approximately $236,000. Finally, Principal Financial Group Inc. grew its position in Helix Energy Solutions Group by 1.6% during the first quarter. Principal Financial Group Inc. now owns 792,964 shares of the oil and gas company’s stock worth $8,596,000 after buying an additional 12,293 shares in the last quarter. 91.33% of the stock is currently owned by institutional investors and hedge funds.

Helix Energy Solutions Group Company Profile

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.