Pacer Advisors Inc. Sells 5,063,645 Shares of Helix Energy Solutions Group, Inc. (NYSE:HLX)

Key Points

• Pacer Advisors Inc. significantly reduced its stake in Helix Energy Solutions Group by 77.3%, selling over 5 million shares and now holding approximately 0.98% of the company.
• Wall Street analysts have varied views on Helix, with Wall Street Zen downgrading the stock from "hold" to "sell," while Raymond James maintained an "outperform" rating but lowered its price target to $9.00.
• Helix Energy Solutions Group reported a quarterly loss of ($0.02) per share, falling short of analysts' expectations, and also missed revenue estimates with $302.29 million for the quarter compared to $326.62 million anticipated.

Pacer Advisors Inc. trimmed its position in Helix Energy Solutions Group, Inc. (NYSE:HLX - Free Report) by 77.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,483,175 shares of the oil and gas company's stock after selling 5,063,645 shares during the quarter. Pacer Advisors Inc. owned approximately 0.98% of Helix Energy Solutions Group worth $12,325,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sunbelt Securities Inc. purchased a new stake in shares of Helix Energy Solutions Group in the fourth quarter worth about $34,000. Quarry LP lifted its holdings in shares of Helix Energy Solutions Group by 79.8% in the fourth quarter. Quarry LP now owns 4,776 shares of the oil and gas company's stock worth $45,000 after buying an additional 2,120 shares in the last quarter. CWM LLC lifted its holdings in shares of Helix Energy Solutions Group by 78.0% in the first quarter. CWM LLC now owns 10,699 shares of the oil and gas company's stock worth $89,000 after buying an additional 4,688 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Helix Energy Solutions Group in the fourth quarter worth about $99,000. Finally, Quantinno Capital Management LP purchased a new stake in shares of Helix Energy Solutions Group in the fourth quarter worth about $110,000. 91.33% of the stock is owned by hedge funds and other institutional investors.

Helix Energy Solutions Group Price Performance

Shares of HLX stock traded down $0.14 during trading on Wednesday, hitting $6.26. The company had a trading volume of 426,189 shares, compared to its average volume of 1,825,942. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.19. The stock's 50-day moving average is $6.53 and its two-hundred day moving average is $7.26. The stock has a market capitalization of $947.97 million, a price-to-earnings ratio of 19.39 and a beta of 1.57. Helix Energy Solutions Group, Inc. has a 52 week low of $5.52 and a 52 week high of $12.33.

Helix Energy Solutions Group (NYSE:HLX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The oil and gas company reported ($0.02) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.03). Helix Energy Solutions Group had a net margin of 3.92% and a return on equity of 3.23%. The business had revenue of $302.29 million for the quarter, compared to the consensus estimate of $326.62 million. As a group, analysts predict that Helix Energy Solutions Group, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HLX. Raymond James Financial reissued an "outperform" rating and issued a $9.00 price target (down from $10.00) on shares of Helix Energy Solutions Group in a report on Friday, July 25th. Wall Street Zen cut shares of Helix Energy Solutions Group from a "hold" rating to a "sell" rating in a research report on Saturday.

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.