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 released on Tuesday morning. They currently have $7.75 target price 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)

A number of other brokerages have also issued reports on HLX. Iberia Capital upgraded shares of Helix Energy Solutions Group to an outperform rating in a report on Friday, August 19th. Stephens lowered shares of Helix Energy Solutions Group from an overweight rating to an equal weight rating and dropped their price objective for the company from $9.00 to $8.00 in a report on Friday, June 3rd. Simmons set a $10.00 price objective on shares of Helix Energy Solutions Group and gave the company a buy rating in a report on Thursday, July 21st. Clarkson Capital upgraded shares of Helix Energy Solutions Group from a neutral rating to a buy rating in a report on Tuesday, July 26th. Finally, Credit Suisse Group AG reiterated a buy rating and issued a $10.00 price objective on shares of Helix Energy Solutions Group in a report on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $8.98.

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

Helix Energy Solutions Group (NYSE:HLX) last issued its quarterly earnings data on Tuesday, July 19th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.10). Helix Energy Solutions Group had a negative net margin of 80.32% and a negative return on equity of 2.49%. During the same period last year, the firm posted ($0.03) earnings per share. Equities analysts forecast that Helix Energy Solutions Group will post ($0.36) earnings per share for the current year.

Several institutional investors have recently modified their holdings of the company. Aperio Group LLC boosted its position in shares of Helix Energy Solutions Group by 21.3% in the first quarter. Aperio Group LLC now owns 66,081 shares of the company’s stock worth $370,000 after buying an additional 11,582 shares in the last quarter. Icon Advisers Inc. Co. bought a new position in shares of Helix Energy Solutions Group during the first quarter valued at $2,555,000. Franklin Resources Inc. boosted its position in shares of Helix Energy Solutions Group by 18.8% in the first quarter. Franklin Resources Inc. now owns 2,103,650 shares of the company’s stock valued at $11,780,000 after buying an additional 332,600 shares during the period. BlackRock Fund Advisors boosted its position in shares of Helix Energy Solutions Group by 1.7% in the first quarter. BlackRock Fund Advisors now owns 6,809,372 shares of the company’s stock valued at $38,132,000 after buying an additional 116,314 shares during the period. Finally, Palisade Capital Management LLC NJ bought a new position in shares of Helix Energy Solutions Group during the first quarter valued at $517,000. Institutional investors own 86.49% of the company’s stock.

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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