Nierenberg Investment Management Company LLC Invests $1.09 Billion in Helix Energy Solutions Group, Inc. $HLX

Key Points

• Nierenberg Investment Management acquired 124,450 Helix Energy Solutions shares worth approximately $1.09 billion, representing about 0.08% of the company and 0.5% of its portfolio. Institutional investors collectively own 91.33% of HLX.
• Analyst sentiment is mixed: one analyst rates HLX Buy and two rate it Hold, producing a consensus Hold rating and a $14 price target. TD Cowen recently raised its target from $13 to $14.
• Helix reported quarterly EPS of $0.10, beating estimates of $0.08, while revenue of $304.02 million fell short of the $314.56 million consensus. Shares opened at $10.44, near the company’s 52-week high of $10.75.

Nierenberg Investment Management Company LLC bought a new stake in Helix Energy Solutions Group, Inc. (NYSE:HLX - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 124,450 shares of the oil and gas company's stock, valued at approximately $1,087,693,000. Helix Energy Solutions Group makes up 0.5% of Nierenberg Investment Management Company LLC's investment portfolio, making the stock its 21st biggest position. Nierenberg Investment Management Company LLC owned approximately 0.08% of Helix Energy Solutions Group as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. AQR Capital Management LLC increased 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 valued at $1,955,000 after buying an additional 197,882 shares during the last quarter. Caxton Associates LLP acquired a new stake in Helix Energy Solutions Group during the first quarter valued at approximately $184,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in 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 worth $3,101,000 after buying an additional 32,643 shares during the last quarter. Jane Street Group LLC lifted its holdings in Helix Energy Solutions Group by 1,836.3% during 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 acquired a new position in shares of Helix Energy Solutions Group in the 1st quarter worth approximately $89,000. Institutional investors own 91.33% of the company's stock.

Wall Street Analysts Forecast Growth

HLX has been the subject of a number of research analyst reports. Wall Street Zen downgraded Helix Energy Solutions Group from a "buy" rating to a "hold" rating in a report on Sunday. Weiss Ratings upgraded Helix Energy Solutions Group from a "sell (d+)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Finally, TD Cowen boosted their target price on shares of Helix Energy Solutions Group from $13.00 to $14.00 and gave the company a "buy" rating in a research note on Friday, April 24th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Helix Energy Solutions Group currently has an average rating of "Hold" and a consensus price target of $14.00.

Helix Energy Solutions Group Stock Performance

Shares of HLX opened at $10.44 on Thursday. The firm has a fifty day moving average of $9.37 and a 200-day moving average of $9.42. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 38.65 and a beta of 1.14. 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 1 year low of $5.61 and a 1 year high of $10.75.

Helix Energy Solutions Group (NYSE:HLX - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The oil and gas company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. The firm had revenue of $304.02 million for the quarter, compared to the consensus estimate 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, equities analysts anticipate that Helix Energy Solutions Group, Inc. will post 0.28 earnings per share for the current year.

Helix Energy Solutions Group 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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