Raymond James Begins Coverage on Helix Energy Solutions Group (NYSE:HLX)

Raymond James assumed coverage on shares of Helix Energy Solutions Group (NYSE:HLX) in a report released on Thursday morning, MarketBeat reports. The brokerage issued a strong-buy rating and a $14.00 price objective on the oil and gas company’s stock.

Separately, TD Cowen boosted their price target on shares of Helix Energy Solutions Group from $15.00 to $16.00 and gave the stock a buy rating in a research note on Tuesday, June 25th.

Helix Energy Solutions Group Stock Performance

NYSE:HLX opened at $10.33 on Thursday. Helix Energy Solutions Group has a 52 week low of $8.82 and a 52 week high of $13.05. The company has a fifty day simple moving average of $10.90 and a two-hundred day simple moving average of $11.00. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -49.19 and a beta of 2.42.

Helix Energy Solutions Group (NYSE:HLX) last announced its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.18 by $0.03. The company had revenue of $364.80 million for the quarter, compared to analyst estimates of $353.19 million. Helix Energy Solutions Group had a negative net margin of 0.49% and a positive return on equity of 4.35%. During the same period in the prior year, the firm posted $0.11 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HLX. Quest Partners LLC acquired a new position in shares of Helix Energy Solutions Group in the fourth quarter valued at $367,000. Aigen Investment Management LP bought a new position in shares of Helix Energy Solutions Group during the 4th quarter valued at about $151,000. Advisory Services Network LLC bought a new stake in Helix Energy Solutions Group in the 4th quarter valued at $200,000. Public Employees Retirement Association of Colorado raised its position in Helix Energy Solutions Group by 33,636.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,902,392 shares of the oil and gas company’s stock valued at $19,557,000 after buying an additional 1,896,753 shares during the last quarter. Finally, Gate City Capital Management LLC bought a new position in Helix Energy Solutions Group in the fourth quarter valued at $8,474,000. 91.33% of the stock is owned by hedge funds and other institutional investors.

Helix Energy Solutions Group Company Profile

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.