Helix Energy Solutions Group (NYSE:HLX) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Helix Energy Solutions Group (NYSE:HLX) announced its earnings results on Wednesday. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02, RTT News reports. The company had revenue of $342.42 million for the quarter, compared to analyst estimates of $354.74 million. Helix Energy Solutions Group had a positive return on equity of 4.35% and a negative net margin of 0.49%. During the same quarter in the previous year, the company earned $0.19 earnings per share.

Helix Energy Solutions Group Stock Performance

Shares of HLX traded up $0.11 during mid-day trading on Friday, hitting $9.36. 2,485,130 shares of the company’s stock were exchanged, compared to its average volume of 1,831,553. Helix Energy Solutions Group has a fifty-two week low of $8.82 and a fifty-two week high of $13.05. The firm has a market capitalization of $1.43 billion, a P/E ratio of -44.62 and a beta of 2.41. The business’s 50 day moving average is $10.41 and its two-hundred day moving average is $10.99. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.21.

Insider Transactions at Helix Energy Solutions Group

In other news, CEO Owen E. Kratz sold 298,419 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $11.92, for a total transaction of $3,557,154.48. Following the completion of the sale, the chief executive officer now owns 7,171,860 shares in the company, valued at approximately $85,488,571.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.37% of the company’s stock.

Analyst Upgrades and Downgrades

HLX has been the topic of a number of research analyst reports. BTIG Research lowered Helix Energy Solutions Group from a “buy” rating to a “neutral” rating in a research report on Thursday. Raymond James began coverage on Helix Energy Solutions Group in a report on Thursday, September 19th. They issued a “strong-buy” rating and a $14.00 target price on the stock. Finally, TD Cowen decreased their price objective on shares of Helix Energy Solutions Group from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Friday.

About Helix Energy Solutions Group

Helix Energy Solutions Group, Inc, together with its subsidiaries, an offshore energy services company, provides specialty services to the offshore energy industry in Brazil, the Gulf of Mexico, the East Coast of the United States, North Sea, the Asia Pacific, and West Africa regions. The company operates through four segments: Well Intervention, Robotics, Production Facilities, and Shallow Water Abandonment segments.