Russell Investments Group Ltd. Sells 482,266 Shares of Helix Energy Solutions Group, Inc. $HLX

Key Points

• Russell Investments Group Ltd. has dramatically reduced its stake in Helix Energy Solutions Group, Inc. by 87.0%, now holding only 71,894 shares after selling 482,266 shares in the first quarter.
• Several institutional investors have increased their positions in Helix, with Quarry LP and CWM LLC growing their holdings by nearly 80% during the fourth quarter.
• Helix Energy Solutions Group reported a quarterly loss of ($0.02) EPS and missed revenue expectations, with an annual earnings forecast of 0.26 EPS.

Russell Investments Group Ltd. reduced its stake in shares of Helix Energy Solutions Group, Inc. (NYSE:HLX - Free Report) by 87.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 71,894 shares of the oil and gas company's stock after selling 482,266 shares during the period. Russell Investments Group Ltd.'s holdings in Helix Energy Solutions Group were worth $597,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Public Sector Pension Investment Board raised its holdings in shares of Helix Energy Solutions Group by 27.3% in the first quarter. Public Sector Pension Investment Board now owns 453,407 shares of the oil and gas company's stock valued at $3,768,000 after purchasing an additional 97,181 shares during the last quarter. Nuveen LLC bought a new position in Helix Energy Solutions Group during the first quarter worth $7,378,000. Invesco Ltd. boosted its position in shares of Helix Energy Solutions Group by 0.4% in the first quarter. Invesco Ltd. now owns 1,002,034 shares of the oil and gas company's stock valued at $8,327,000 after acquiring an additional 4,313 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Helix Energy Solutions Group by 4.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 37,161 shares of the oil and gas company's stock valued at $309,000 after acquiring an additional 1,634 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Helix Energy Solutions Group by 6.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,338,193 shares of the oil and gas company's stock valued at $19,430,000 after acquiring an additional 148,834 shares during the period. 91.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on HLX shares. Raymond James Financial reissued an "outperform" rating and set a $9.00 target price (down previously from $10.00) on shares of Helix Energy Solutions Group in a research note on Friday, July 25th. Wall Street Zen cut Helix Energy Solutions Group from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Helix Energy Solutions Group presently has an average rating of "Moderate Buy" and an average price target of $12.00.

Helix Energy Solutions Group Stock Up 0.7%

Shares of NYSE:HLX traded up $0.05 during trading on Thursday, reaching $6.53. 164,640 shares of the stock were exchanged, compared to its average volume of 1,766,371. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.19 and a quick ratio of 2.19. Helix Energy Solutions Group, Inc. has a 1-year low of $5.52 and a 1-year high of $12.33. The stock has a fifty day moving average of $6.25 and a two-hundred day moving average of $6.84. The firm has a market cap of $959.11 million, a price-to-earnings ratio of 20.36 and a beta of 1.65.

Helix Energy Solutions Group (NYSE:HLX - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The oil and gas company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.03). Helix Energy Solutions Group had a return on equity of 3.23% and a net margin of 3.92%.The firm had revenue of $302.29 million for the quarter, compared to analyst estimates of $326.62 million. Helix Energy Solutions Group has set its FY 2025 guidance at EPS. Research analysts anticipate that Helix Energy Solutions Group, Inc. will post 0.26 earnings per share for the current fiscal year.

About Helix Energy Solutions Group

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.