Helix Energy Solutions Group (NYSE:HLX) Share Price Breaks Above Two Hundred Day Moving Average – Here’s Why

Helix Energy Solutions Group, Inc. (NYSE:HLX)’s share price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $9.72 and traded as high as $10.73. Helix Energy Solutions Group shares last traded at $10.62, with a volume of 4,085,980 shares.

Analyst Ratings Changes

Several analysts have recently issued reports on HLX shares. Weiss Ratings upgraded Helix Energy Solutions Group from a “sell (d+)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Wall Street Zen cut Helix Energy Solutions Group from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $14.00.

Helix Energy Solutions Group Stock Performance

The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 39.33 and a beta of 1.17. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.47 and a quick ratio of 3.47. The stock’s 50-day moving average is $10.16 and its 200-day moving average is $9.73.

Helix Energy Solutions Group (NYSE:HLX) last issued its quarterly earnings results on Thursday, August 6th. The oil and gas company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $304.02 million for the quarter, compared to analyst estimates of $314.56 million. Helix Energy Solutions Group had a return on equity of 2.95% and a net margin of 3.04%. Analysts anticipate that Helix Energy Solutions Group, Inc. will post 0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HLX. BlackRock Inc. purchased a new stake in Helix Energy Solutions Group in the second quarter valued at approximately $198,670,000. Dimensional Fund Advisors LP boosted its holdings in shares of Helix Energy Solutions Group by 2.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,959,806 shares of the oil and gas company’s stock valued at $88,611,000 after purchasing an additional 249,887 shares during the last quarter. State Street Corp grew its stake in shares of Helix Energy Solutions Group by 6.9% during the 2nd quarter. State Street Corp now owns 7,175,792 shares of the oil and gas company’s stock valued at $62,716,000 after buying an additional 466,289 shares during the period. CenterBook Partners LP grew its stake in shares of Helix Energy Solutions Group by 3.9% during the 4th quarter. CenterBook Partners LP now owns 1,172,077 shares of the oil and gas company’s stock valued at $7,349,000 after buying an additional 43,634 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in shares of Helix Energy Solutions Group by 1,571.3% during the 1st quarter. Janus Henderson Group PLC now owns 1,055,411 shares of the oil and gas company’s stock worth $10,438,000 after buying an additional 992,261 shares during the last quarter. Institutional investors and hedge funds own 91.33% of the company’s stock.

About Helix Energy Solutions Group

Helix Energy Solutions Group, Inc (NYSE: HLX) is an international offshore energy services company that provides specialized services and technology to the oil and gas industry. The company supports the development, operation, intervention and decommissioning of offshore wells and subsea infrastructure, with an emphasis on deepwater and other technically demanding projects.

Helix’s services include well intervention, subsea robotics, offshore construction and installation, and the abandonment and decommissioning of wells and facilities.