Brinker Capital Investments LLC Lowers Position in Helix Energy Solutions Group, Inc. (NYSE:HLX)

Posted by on May 4th, 2023

Brinker Capital Investments LLC cut its stake in shares of Helix Energy Solutions Group, Inc. (NYSE:HLX – Get Rating) by 27.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 141,546 shares of the oil and gas company’s stock after selling 53,183 shares during the period. Brinker Capital Investments LLC owned about 0.09% of Helix Energy Solutions Group worth $1,045,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of HLX. Goldman Sachs Group Inc. lifted its position in Helix Energy Solutions Group by 202.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,177,004 shares of the oil and gas company’s stock valued at $10,406,000 after purchasing an additional 1,457,577 shares in the last quarter. Voya Investment Management LLC raised its holdings in Helix Energy Solutions Group by 1,280.5% during the second quarter. Voya Investment Management LLC now owns 1,335,175 shares of the oil and gas company’s stock valued at $4,139,000 after acquiring an additional 1,238,461 shares during the period. State Street Corp raised its holdings in Helix Energy Solutions Group by 12.4% during the first quarter. State Street Corp now owns 7,200,373 shares of the oil and gas company’s stock valued at $34,418,000 after acquiring an additional 794,783 shares during the period. JPMorgan Chase & Co. raised its holdings in Helix Energy Solutions Group by 157.0% during the first quarter. JPMorgan Chase & Co. now owns 1,173,934 shares of the oil and gas company’s stock valued at $5,611,000 after acquiring an additional 717,074 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in Helix Energy Solutions Group by 103.3% during the third quarter. Assenagon Asset Management S.A. now owns 1,309,760 shares of the oil and gas company’s stock valued at $5,056,000 after acquiring an additional 665,595 shares during the period. 87.78% of the stock is currently owned by hedge funds and other institutional investors.

Helix Energy Solutions Group Trading Down 2.5 %

Shares of HLX stock opened at $6.62 on Thursday. Helix Energy Solutions Group, Inc. has a 12-month low of $2.47 and a 12-month high of $9.16. The company has a current ratio of 1.56, a quick ratio of 1.55 and a debt-to-equity ratio of 0.15. The stock’s 50-day moving average price is $7.72 and its 200-day moving average price is $7.19. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of -20.06 and a beta of 2.77.

Helix Energy Solutions Group (NYSE:HLX – Get Rating) last issued its earnings results on Monday, February 20th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter. Helix Energy Solutions Group had a negative return on equity of 2.25% and a negative net margin of 5.23%. The firm had revenue of $287.82 million for the quarter, compared to analysts’ expectations of $244.70 million. Equities research analysts predict that Helix Energy Solutions Group, Inc. will post 0.61 EPS for the current fiscal year.

Helix Energy Solutions Group announced that its Board of Directors has initiated a stock buyback program on Monday, February 20th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the oil and gas company to repurchase up to 16.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Separately, StockNews.com raised Helix Energy Solutions Group from a “sell” rating to a “hold” rating in a report on Saturday, April 29th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.80.

Helix Energy Solutions Group Profile

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Helix Energy Solutions Group, Inc is an international offshore energy company. It focuses on subsea construction, maintenance and salvage services to the offshore natural gas and oil industry. The firm also provides specialty services to the offshore energy industry, with a focus on well intervention and robotics operations.

See Also

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Institutional Ownership by Quarter for Helix Energy Solutions Group (NYSE:HLX)

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