Helix Energy Solutions Group, Inc. $HLX Position Cut by Wellington Management Group LLP

Key Points

• Wellington Management cut its Helix Energy Solutions Group stake by 13.3% in the second quarter, selling 523,989 shares and retaining 3.41 million shares valued at about $29.8 million. Institutional investors collectively own 91.33% of HLX.
• HLX shares opened at $10.62, near their 52-week high of $10.75. The company reported quarterly earnings of $0.10 per share, exceeding estimates by $0.02, though revenue of $304.02 million fell short of expectations.
• Analyst sentiment remains cautious, with a consensus “Hold” rating from three analysts and an average price target of $14.00.

Wellington Management Group LLP lowered its position in shares of Helix Energy Solutions Group, Inc. (NYSE:HLX - Free Report) by 13.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,408,554 shares of the oil and gas company's stock after selling 523,989 shares during the period. Wellington Management Group LLP owned 2.31% of Helix Energy Solutions Group worth $29,791,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership grew its position in Helix Energy Solutions Group by 71.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 577,979 shares of the oil and gas company's stock valued at $5,716,000 after buying an additional 240,414 shares in the last quarter. Nierenberg Investment Management Company LLC acquired a new stake in Helix Energy Solutions Group during the second quarter valued at approximately $1,087,693. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Helix Energy Solutions Group during the second quarter worth approximately $2,994,000. Man Group plc acquired a new position in Helix Energy Solutions Group in the second quarter worth approximately $4,883,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Helix Energy Solutions Group by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 8,959,806 shares of the oil and gas company's stock valued at $88,611,000 after buying an additional 249,887 shares in the last quarter. 91.33% of the stock is currently owned by institutional investors.

Helix Energy Solutions Group Stock Up 0.2%

Shares of HLX opened at $10.62 on Friday. The company has a 50-day simple moving average of $9.68 and a 200-day simple moving average of $9.57. 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, Inc. has a 52 week low of $6.03 and a 52 week high of $10.75. The firm has a market capitalization of $1.57 billion, a P/E ratio of 39.33 and a beta of 1.17.

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

Analyst Upgrades and Downgrades

HLX has been the topic of a number of recent research reports. Weiss Ratings upgraded Helix Energy Solutions Group from a "sell (d+)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Wall Street Zen downgraded Helix Energy Solutions Group from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $14.00.

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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