Helix Energy Solutions Group (NYSE:HLX) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Helix Energy Solutions Group, Inc. (NYSE:HLX) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.57 and traded as high as $9.89. Helix Energy Solutions Group shares last traded at $9.8450, with a volume of 1,056,026 shares traded.

Wall Street Analysts Forecast Growth

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

Helix Energy Solutions Group Stock Up 2.6%

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 stock has a market cap of $1.45 billion, a P/E ratio of 46.88 and a beta of 1.15. The firm has a 50-day simple moving average of $9.09 and a two-hundred day simple moving average of $7.57.

Helix Energy Solutions Group (NYSE:HLX) last posted its quarterly earnings data on Monday, February 23rd. The oil and gas company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.08. Helix Energy Solutions Group had a return on equity of 2.88% and a net margin of 2.39%.The firm had revenue of $334.16 million for the quarter, compared to analysts’ expectations of $304.67 million. The business’s revenue was down 5.9% compared to the same quarter last year. Equities research analysts expect that Helix Energy Solutions Group, Inc. will post 0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Helix Energy Solutions Group

A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Helix Energy Solutions Group by 6.3% during the 4th quarter. State Street Corp now owns 6,263,543 shares of the oil and gas company’s stock worth $39,272,000 after acquiring an additional 372,115 shares during the period. American Century Companies Inc. increased its stake in Helix Energy Solutions Group by 4.5% during the 3rd quarter. American Century Companies Inc. now owns 5,399,153 shares of the oil and gas company’s stock worth $35,418,000 after acquiring an additional 230,668 shares during the period. Invesco Ltd. increased its stake in Helix Energy Solutions Group by 58.6% during the 4th quarter. Invesco Ltd. now owns 4,968,078 shares of the oil and gas company’s stock worth $31,150,000 after acquiring an additional 1,835,536 shares during the period. Principal Financial Group Inc. increased its stake in Helix Energy Solutions Group by 109.8% during the 3rd quarter. Principal Financial Group Inc. now owns 4,804,147 shares of the oil and gas company’s stock worth $31,515,000 after acquiring an additional 2,514,402 shares during the period. Finally, Millennium Management LLC increased its stake 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 worth $26,409,000 after acquiring an additional 3,620,563 shares during the period. Institutional investors own 91.33% of the company’s stock.

Helix Energy Solutions Group Company Profile

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.