Helix Energy Solutions Group (NYSE:HLX) Stock Price Up 0.8% on Earnings Beat

Helix Energy Solutions Group, Inc. (NYSE:HLX - Get Free Report) shares traded up 0.8% during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $6.81 and last traded at $6.57. 502,025 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 1,782,214 shares. The stock had previously closed at $6.52.

The oil and gas company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.07. The business had revenue of $278.06 million for the quarter, compared to analysts' expectations of $285.06 million. Helix Energy Solutions Group had a return on equity of 4.39% and a net margin of 0.54%.

Analyst Upgrades and Downgrades

Separately, Raymond James downgraded shares of Helix Energy Solutions Group from a "strong-buy" rating to an "outperform" rating in a research report on Friday.

Institutional Investors Weigh In On Helix Energy Solutions Group

Several large investors have recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. lifted its position in shares of Helix Energy Solutions Group by 356.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,469,684 shares of the oil and gas company's stock worth $23,017,000 after acquiring an additional 1,928,691 shares in the last quarter. Gate City Capital Management LLC purchased a new position in shares of Helix Energy Solutions Group in the 4th quarter worth about $17,639,000. Encompass Capital Advisors LLC grew its position in Helix Energy Solutions Group by 66.2% during the fourth quarter. Encompass Capital Advisors LLC now owns 4,103,295 shares of the oil and gas company's stock valued at $38,243,000 after acquiring an additional 1,634,764 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Helix Energy Solutions Group by 16.4% in the 4th quarter. Pacer Advisors Inc. now owns 6,546,820 shares of the oil and gas company's stock valued at $61,016,000 after acquiring an additional 923,477 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its position in Helix Energy Solutions Group by 738.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 998,485 shares of the oil and gas company's stock worth $9,306,000 after acquiring an additional 879,437 shares during the last quarter. Hedge funds and other institutional investors own 91.33% of the company's stock.

Helix Energy Solutions Group Price Performance

The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.19. The business's 50-day simple moving average is $7.66 and its 200-day simple moving average is $8.87. The stock has a market cap of $964.49 million, a PE ratio of 159.16 and a beta of 1.91.

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.