Wedge Capital Management L L P NC Purchases New Position in Helix Energy Solutions Group, Inc. $HLX

Wedge Capital Management L L P NC acquired a new position in shares of Helix Energy Solutions Group, Inc. (NYSE:HLX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 153,902 shares of the oil and gas company’s stock, valued at approximately $1,010,000. Wedge Capital Management L L P NC owned about 0.10% of Helix Energy Solutions Group as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Invesco Ltd. boosted its position in shares of Helix Energy Solutions Group by 219.2% in the 2nd quarter. Invesco Ltd. now owns 3,198,950 shares of the oil and gas company’s stock valued at $19,961,000 after purchasing an additional 2,196,916 shares during the period. Adage Capital Partners GP L.L.C. purchased a new stake in Helix Energy Solutions Group in the second quarter valued at approximately $10,296,000. Cerity Partners LLC acquired a new stake in shares of Helix Energy Solutions Group in the second quarter valued at approximately $8,108,000. Encompass Capital Advisors LLC boosted its holdings in shares of Helix Energy Solutions Group by 24.3% in the first quarter. Encompass Capital Advisors LLC now owns 5,099,383 shares of the oil and gas company’s stock valued at $42,376,000 after acquiring an additional 996,088 shares during the period. Finally, Tensile Capital Management LP purchased a new position in Helix Energy Solutions Group during the 1st quarter worth $6,425,000. 91.33% of the stock is owned by hedge funds and other institutional investors.

Helix Energy Solutions Group Price Performance

Helix Energy Solutions Group stock opened at $6.32 on Thursday. Helix Energy Solutions Group, Inc. has a 1 year low of $5.52 and a 1 year high of $9.75. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.54 and a current ratio of 2.54. The firm has a 50 day moving average price of $6.71 and a 200 day moving average price of $6.51. The company has a market cap of $929.55 million, a price-to-earnings ratio of 22.57 and a beta of 1.26.

Helix Energy Solutions Group (NYSE:HLX) last announced its quarterly earnings results on Wednesday, October 22nd. The oil and gas company reported $0.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.15. Helix Energy Solutions Group had a net margin of 3.25% and a return on equity of 2.75%. The company had revenue of $376.96 million for the quarter, compared to analyst estimates of $361.93 million. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. Sell-side analysts predict that Helix Energy Solutions Group, Inc. will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In other Helix Energy Solutions Group news, COO Scott Andrew Sparks sold 40,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $6.88, for a total transaction of $275,200.00. Following the completion of the sale, the chief operating officer owned 301,042 shares of the company’s stock, valued at approximately $2,071,168.96. The trade was a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

HLX has been the topic of several analyst reports. Wall Street Zen upgraded Helix Energy Solutions Group from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Zacks Research raised Helix Energy Solutions Group from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 20th. Weiss Ratings restated a “hold (c)” rating on shares of Helix Energy Solutions Group in a research report on Monday, December 15th. Cowen reissued a “buy” rating on shares of Helix Energy Solutions Group in a report on Friday, October 24th. Finally, TD Cowen upped their price objective on shares of Helix Energy Solutions Group from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, October 24th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Helix Energy Solutions Group presently has an average rating of “Moderate Buy” and an average price target of $10.50.

Helix Energy Solutions Group Company Profile

Helix Energy Solutions Group, Inc (NYSE: HLX) is a Houston-based provider of offshore well intervention and robotics services to the global energy industry. The company specializes in extending the productive life of subsea wells through hydraulic workover systems, coiled tubing operations and riser-based wireline services. In addition, Helix offers remotely operated vehicle (ROV) support, inspection, maintenance and repair for subsea infrastructure.

Operating through three core business segments—Well Intervention, Robotics & Subsea Services and Production Facilities—Helix deploys purpose-built vessels, specialized equipment and engineering expertise to execute complex offshore projects.