22,731,079 Shares in Helix Energy Solutions Group, Inc. $HLX Bought by BlackRock Inc.

Key Points

• BlackRock acquired 22.7 million Helix Energy Solutions Group shares worth approximately $198.7 million, giving it a 15.42% stake. Institutional investors collectively own 91.33% of HLX.
• Analysts’ consensus rating is “Hold”, with one Buy and two Hold ratings and an average price target of $14.00.
• HLX was trading at $10.12 after rising 3.4%. Helix reported quarterly EPS of $0.10, beating estimates by $0.02, while revenue of $304.0 million fell short of expectations.

BlackRock Inc. bought a new position in Helix Energy Solutions Group, Inc. (NYSE:HLX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 22,731,079 shares of the oil and gas company's stock, valued at approximately $198,670,000. BlackRock Inc. owned approximately 15.42% of Helix Energy Solutions Group at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Helix Energy Solutions Group during the 4th quarter valued at approximately $27,000. Royal Bank of Canada lifted its holdings in shares of Helix Energy Solutions Group by 175.9% in the fourth quarter. Royal Bank of Canada now owns 6,993 shares of the oil and gas company's stock worth $44,000 after buying an additional 4,458 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Helix Energy Solutions Group during the second quarter worth $80,000. Inscription Capital LLC bought a new position in shares of Helix Energy Solutions Group during the fourth quarter worth $83,000. Finally, CIBC Asset Management Inc purchased a new position in Helix Energy Solutions Group during the fourth quarter valued at $85,000. Institutional investors own 91.33% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wall Street Zen downgraded Helix Energy Solutions Group from a "buy" rating to a "hold" rating in a research report on Sunday, August 16th. Weiss Ratings raised shares of Helix Energy Solutions Group from a "sell (d+)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $14.00.

Helix Energy Solutions Group Trading Up 3.4%

HLX opened at $10.12 on Friday. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 37.48 and a beta of 1.14. The stock's 50 day moving average price is $9.47 and its 200-day moving average price is $9.50. Helix Energy Solutions Group, Inc. has a one year low of $6.03 and a one year high of $10.75. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.47 and a current ratio of 3.47.

Helix Energy Solutions Group (NYSE:HLX - Get Free Report) last issued its earnings results on Thursday, August 6th. The oil and gas company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.02. The firm had revenue of $304.02 million during the quarter, compared to analyst estimates of $314.56 million. Helix Energy Solutions Group had a net margin of 3.04% and a return on equity of 2.95%. On average, equities analysts forecast that Helix Energy Solutions Group, Inc. will post 0.28 EPS for the current year.

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.

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