Helix Energy Solutions Group (NYSE:HLX) Shares Gap Up Following Earnings Beat

Helix Energy Solutions Group, Inc. (NYSE:HLX) shares gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $9.07, but opened at $9.84. Helix Energy Solutions Group shares last traded at $10.2520, with a volume of 879,633 shares traded.

The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.08. The business had revenue of $334.16 million for the quarter, compared to analysts’ expectations of $304.67 million. Helix Energy Solutions Group had a return on equity of 2.75% and a net margin of 3.25%.The firm’s quarterly revenue was down 5.9% on a year-over-year basis.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HLX. Weiss Ratings reiterated a “hold (c-)” rating on shares of Helix Energy Solutions Group in a research report on Monday, December 29th. Zacks Research upgraded shares of Helix Energy Solutions Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 20th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Helix Energy Solutions Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.50.

Institutional Investors Weigh In On Helix Energy Solutions Group

Several large investors have recently made changes to their positions in HLX. Quarry LP acquired a new stake in shares of Helix Energy Solutions Group during the 4th quarter worth about $27,000. Bessemer Group Inc. grew its stake in Helix Energy Solutions Group by 243.4% during the second quarter. Bessemer Group Inc. now owns 5,045 shares of the oil and gas company’s stock worth $31,000 after buying an additional 3,576 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Helix Energy Solutions Group by 175.9% during the fourth quarter. Royal Bank of Canada now owns 6,993 shares of the oil and gas company’s stock worth $44,000 after buying an additional 4,458 shares in the last quarter. AlphaQuest LLC raised its stake in shares of Helix Energy Solutions Group by 49.3% in the second quarter. AlphaQuest LLC now owns 8,877 shares of the oil and gas company’s stock valued at $55,000 after acquiring an additional 2,930 shares during the last quarter. Finally, Drucker Wealth 3.0 LLC acquired a new position in shares of Helix Energy Solutions Group in the 3rd quarter worth approximately $66,000. Institutional investors own 91.33% of the company’s stock.

Helix Energy Solutions Group Stock Up 13.2%

The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 36.74 and a beta of 1.25. The firm has a fifty day moving average price of $7.43 and a 200 day moving average price of $6.85. The company has a current ratio of 2.54, a quick ratio of 2.54 and a debt-to-equity ratio of 0.19.

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.