Bank of New York Mellon Corp Acquires New Shares in Helix Energy Solutions Group, Inc. $HLX

Key Points

• Bank of New York Mellon acquired 843,043 shares of Helix Energy Solutions Group, valued at approximately $7.37 million and representing 0.57% of the company. Institutional investors collectively own 91.33% of HLX.
• Helix reported quarterly earnings of $0.10 per share, exceeding estimates of $0.08, while revenue of $304.02 million fell short of the $314.56 million consensus forecast.
• Analyst sentiment remains cautious, with one Buy rating and two Hold ratings; the stock carries an average Hold rating and a $14 price target. HLX recently traded at $10.62, near its 12-month high of $10.75.

Bank of New York Mellon Corp bought a new stake in shares of Helix Energy Solutions Group, Inc. (NYSE:HLX - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 843,043 shares of the oil and gas company's stock, valued at approximately $7,368,000. Bank of New York Mellon Corp owned 0.57% of Helix Energy Solutions Group as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in Helix Energy Solutions Group by 530.1% in the first quarter. AQR Capital Management LLC now owns 235,208 shares of the oil and gas company's stock worth $1,955,000 after purchasing an additional 197,882 shares during the last quarter. Caxton Associates LLP purchased a new stake in Helix Energy Solutions Group during the 1st quarter valued at $184,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Helix Energy Solutions Group by 9.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 373,201 shares of the oil and gas company's stock valued at $3,101,000 after buying an additional 32,643 shares during the period. Jane Street Group LLC boosted its stake in shares of Helix Energy Solutions Group by 1,836.3% in the 1st quarter. Jane Street Group LLC now owns 378,195 shares of the oil and gas company's stock worth $3,143,000 after buying an additional 358,663 shares during the last quarter. Finally, Strs Ohio purchased a new position in shares of Helix Energy Solutions Group in the 1st quarter worth $89,000. Hedge funds and other institutional investors own 91.33% of the company's stock.

Helix Energy Solutions Group Price Performance

NYSE HLX opened at $10.62 on Friday. The company has a current ratio of 3.47, a quick ratio of 3.47 and a debt-to-equity ratio of 0.19. Helix Energy Solutions Group, Inc. has a 12 month low of $6.03 and a 12 month high of $10.75. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 39.33 and a beta of 1.17. The company's 50 day moving average is $9.64 and its two-hundred day moving average is $9.56.

Helix Energy Solutions Group (NYSE:HLX - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The oil and gas company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.02. The business 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%. As a group, research analysts anticipate that Helix Energy Solutions Group, Inc. will post 0.28 earnings per share for the current year.

Analyst Ratings Changes

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

About Helix Energy Solutions Group

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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