Zacks Investment Research upgraded shares of Helix Energy Solutions Group Inc. (NYSE:HLX) from a hold rating to a buy rating in a research note published on Tuesday morning. Zacks Investment Research currently has $7.75 price objective on the stock.

According to Zacks, “Helix Energy Solutions Group Inc., is a leading marine contractor and operator of offshore oil and gas properties and production facilities. The company seeks to align the interests of the producer and the contractor by investing in mature offshore oil and gas properties, hub production facilities and proven undeveloped reserve plays where Helix Energy Solutions Group adds value by deploying vessels from its diverse contracting fleet. This unique integration of marine contracting and oil and gas operations is designed to add stability to revenues and earnings in an industry as cyclical as energy. “

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

Other analysts also recently issued research reports about the company. Clarkson Capital upgraded Helix Energy Solutions Group from a neutral rating to a buy rating in a research report on Tuesday, July 26th. Simmons set a $10.00 price objective on Helix Energy Solutions Group and gave the company a buy rating in a research report on Thursday, July 21st. Credit Suisse Group AG reissued a buy rating and set a $10.00 target price on shares of Helix Energy Solutions Group in a research note on Wednesday, July 20th. Stephens cut Helix Energy Solutions Group from an overweight rating to an equal weight rating and reduced their target price for the company from $9.00 to $8.00 in a research note on Friday, June 3rd. Finally, Iberia Capital raised Helix Energy Solutions Group to an outperform rating in a research note on Friday, August 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Helix Energy Solutions Group presently has an average rating of Buy and a consensus price target of $8.98.

Helix Energy Solutions Group (NYSE:HLX) opened at 7.43 on Tuesday. The firm’s 50-day moving average price is $7.66 and its 200 day moving average price is $7.12. Helix Energy Solutions Group has a 52 week low of $2.60 and a 52 week high of $9.07. The company’s market capitalization is $836.91 million.

Helix Energy Solutions Group (NYSE:HLX) last announced its quarterly earnings data on Tuesday, July 19th. The company reported ($0.10) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.10). Helix Energy Solutions Group had a negative return on equity of 2.49% and a negative net margin of 80.32%. During the same period in the prior year, the company earned ($0.03) earnings per share. Equities research analysts expect that Helix Energy Solutions Group will post ($0.36) earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of HLX. Amalgamated Bank boosted its stake in shares of Helix Energy Solutions Group by 5.3% in the second quarter. Amalgamated Bank now owns 11,980 shares of the company’s stock valued at $101,000 after buying an additional 604 shares during the last quarter. Raymond James & Associates bought a new stake in Helix Energy Solutions Group during the second quarter worth approximately $103,000. Virginia Retirement Systems ET AL bought a new stake in Helix Energy Solutions Group during the second quarter worth approximately $110,000. Mason Street Advisors LLC bought a new stake in Helix Energy Solutions Group during the second quarter worth approximately $132,000. Finally, Public Employees Retirement System of Ohio boosted its stake in Helix Energy Solutions Group by 15.8% in the second quarter. Public Employees Retirement System of Ohio now owns 20,293 shares of the company’s stock worth $137,000 after buying an additional 2,762 shares in the last quarter. 86.49% of the stock is currently owned by institutional investors.

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.

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