Bank of America Downgrades Helix Energy Solutions Group (HLX) to Underperform

Helix Energy Solutions Group (NYSE:HLX) was downgraded by equities researchers at Bank of America from a “neutral” rating to an “underperform” rating in a research note issued on Tuesday. They currently have a $7.00 price objective on the oil and gas company’s stock. Bank of America’s target price would indicate a potential downside of 12.83% from the company’s current price.

Several other equities analysts have also weighed in on HLX. Piper Jaffray Companies lowered Helix Energy Solutions Group from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $7.00 to $7.30 in a report on Wednesday, September 27th. Cowen set a $9.00 target price on Helix Energy Solutions Group and gave the stock a “buy” rating in a research report on Friday, October 6th. Capital One Financial restated an “overweight” rating on shares of Helix Energy Solutions Group in a research report on Tuesday, October 10th. Finally, Zacks Investment Research downgraded Helix Energy Solutions Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Helix Energy Solutions Group presently has an average rating of “Hold” and a consensus target price of $8.40.

Shares of Helix Energy Solutions Group (HLX) traded down $0.25 during midday trading on Tuesday, reaching $8.03. The company’s stock had a trading volume of 1,183,475 shares, compared to its average volume of 1,370,048. Helix Energy Solutions Group has a 1-year low of $4.82 and a 1-year high of $8.89. The company has a market capitalization of $1,200.00, a price-to-earnings ratio of -13.38 and a beta of 2.61. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 0.26.

Helix Energy Solutions Group (NYSE:HLX) last announced its quarterly earnings data on Monday, October 23rd. The oil and gas company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. Helix Energy Solutions Group had a negative return on equity of 1.80% and a negative net margin of 13.72%. The business had revenue of $163.30 million during the quarter, compared to analyst estimates of $168.97 million. During the same period in the prior year, the company earned $0.10 earnings per share. Helix Energy Solutions Group’s revenue was up 1.2% compared to the same quarter last year. equities research analysts anticipate that Helix Energy Solutions Group will post -0.14 earnings per share for the current fiscal year.

In related news, EVP Anthony Tripodo sold 6,466 shares of the stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $6.92, for a total value of $44,744.72. Following the sale, the executive vice president now owns 318,937 shares in the company, valued at $2,207,044.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Scott Andrew Sparks sold 10,000 shares of the stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $6.75, for a total value of $67,500.00. Following the completion of the sale, the chief operating officer now owns 151,530 shares in the company, valued at approximately $1,022,827.50. The disclosure for this sale can be found here. Insiders sold 27,734 shares of company stock worth $196,079 in the last quarter. 5.70% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the stock. Amalgamated Bank raised its position in shares of Helix Energy Solutions Group by 3.8% in the second quarter. Amalgamated Bank now owns 18,427 shares of the oil and gas company’s stock worth $104,000 after buying an additional 683 shares in the last quarter. Jane Street Group LLC purchased a new stake in Helix Energy Solutions Group during the third quarter valued at about $118,000. Green Square Capital LLC raised its position in Helix Energy Solutions Group by 1.7% during the second quarter. Green Square Capital LLC now owns 21,392 shares of the oil and gas company’s stock valued at $121,000 after purchasing an additional 359 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Helix Energy Solutions Group during the second quarter valued at about $151,000. Finally, Piedmont Investment Advisors LLC purchased a new stake in Helix Energy Solutions Group during the second quarter valued at about $169,000. Institutional investors own 85.92% of the company’s stock.

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Helix Energy Solutions Group Company Profile

Helix Energy Solutions Group, Inc is an international offshore energy services company. The Company provides services to the offshore energy industry, with a focus on well intervention and robotics operations. The Company operates in three segments: Well Intervention, Robotics and Production Facilities.

Analyst Recommendations for Helix Energy Solutions Group (NYSE:HLX)

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