773,162 Shares in Helix Energy Solutions Group, Inc. $HLX Acquired by Tensile Capital Management LP

Key Points

• Tensile Capital Management LP acquired 773,162 shares of Helix Energy Solutions Group, Inc. valued at approximately $6.4 million, making it the firm's 17th largest position.
• Several institutional investors, including Encompass Capital Advisors and SIR Capital Management, have significantly increased their stakes in Helix Energy Solutions Group during the first quarter.
• Analysts have issued mixed ratings on the stock, with Raymond James maintaining an "outperform" rating, but lowering the target price from $10.00 to $9.00.

Tensile Capital Management LP bought a new stake in Helix Energy Solutions Group, Inc. (NYSE:HLX - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 773,162 shares of the oil and gas company's stock, valued at approximately $6,425,000. Helix Energy Solutions Group comprises 0.8% of Tensile Capital Management LP's holdings, making the stock its 17th biggest holding. Tensile Capital Management LP owned approximately 0.51% of Helix Energy Solutions Group as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Encompass Capital Advisors LLC increased its holdings in shares of Helix Energy Solutions Group by 24.3% during the first quarter. Encompass Capital Advisors LLC now owns 5,099,383 shares of the oil and gas company's stock valued at $42,376,000 after purchasing an additional 996,088 shares during the period. Nuveen LLC acquired a new position in shares of Helix Energy Solutions Group during the first quarter valued at $7,378,000. SIR Capital Management L.P. increased its holdings in shares of Helix Energy Solutions Group by 59.6% during the fourth quarter. SIR Capital Management L.P. now owns 1,706,116 shares of the oil and gas company's stock valued at $15,901,000 after purchasing an additional 636,818 shares during the period. Systematic Financial Management LP increased its holdings in shares of Helix Energy Solutions Group by 17.1% during the fourth quarter. Systematic Financial Management LP now owns 2,905,836 shares of the oil and gas company's stock valued at $27,082,000 after purchasing an additional 425,071 shares during the period. Finally, LMR Partners LLP acquired a new position in shares of Helix Energy Solutions Group during the fourth quarter valued at $3,728,000. 91.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Helix Energy Solutions Group Trading Down 1.5%

HLX stock traded down $0.10 during mid-day trading on Friday, reaching $6.25. 250,154 shares of the stock traded hands, compared to its average volume of 1,744,015. Helix Energy Solutions Group, Inc. has a 52-week low of $5.52 and a 52-week high of $12.33. The stock's fifty day moving average is $6.24 and its 200-day moving average is $6.77. The company has a market cap of $917.93 million, a P/E ratio of 19.48 and a beta of 1.65. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19.

Helix Energy Solutions Group (NYSE:HLX - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The oil and gas company reported ($0.02) earnings per share (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 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. As a group, sell-side analysts expect that Helix Energy Solutions Group, Inc. will post 0.26 earnings per share for the current year.

Helix Energy Solutions Group 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.