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

Nierenberg Investment Management Company LLC bought a new stake in shares of Helix Energy Solutions Group, Inc. (NYSE:HLX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 124,450 shares of the oil and gas company’s stock, valued at approximately $1,087,693,000. Helix Energy Solutions Group accounts for approximately 0.5% of Nierenberg Investment Management Company LLC’s holdings, making the stock its 21st largest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Helix Energy Solutions Group in the second quarter valued at approximately $198,670,000. Dimensional Fund Advisors LP raised its holdings in Helix Energy Solutions Group by 2.9% during the first quarter. Dimensional Fund Advisors LP now owns 8,959,806 shares of the oil and gas company’s stock worth $88,611,000 after purchasing an additional 249,887 shares in the last quarter. State Street Corp raised its holdings in Helix Energy Solutions Group by 6.3% during the fourth quarter. State Street Corp now owns 6,263,543 shares of the oil and gas company’s stock worth $39,272,000 after purchasing an additional 372,115 shares in the last quarter. Invesco Ltd. lifted its position in Helix Energy Solutions Group by 58.6% in the fourth quarter. Invesco Ltd. now owns 4,968,078 shares of the oil and gas company’s stock worth $31,150,000 after purchasing an additional 1,835,536 shares during the period. Finally, Millennium Management LLC lifted its position in Helix Energy Solutions Group by 893.7% in the third quarter. Millennium Management LLC now owns 4,025,701 shares of the oil and gas company’s stock worth $26,409,000 after purchasing an additional 3,620,563 shares during the period. 91.33% of the stock is currently owned by institutional investors.

Helix Energy Solutions Group Stock Up 0.5%

HLX stock opened at $10.44 on Thursday. Helix Energy Solutions Group, Inc. has a 12 month low of $5.61 and a 12 month high of $10.75. The firm has a market cap of $1.54 billion, a PE ratio of 38.65 and a beta of 1.14. The firm has a 50 day simple moving average of $9.37 and a 200 day simple moving average of $9.42. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.47 and a quick ratio of 3.47.

Helix Energy Solutions Group (NYSE:HLX) last issued its earnings results on Thursday, August 6th. The oil and gas company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The firm had revenue of $304.02 million during the quarter, compared to analysts’ expectations of $314.56 million. Helix Energy Solutions Group had a net margin of 3.04% and a return on equity of 2.95%. Equities research analysts forecast that Helix Energy Solutions Group, Inc. will post 0.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Weiss Ratings raised Helix Energy Solutions Group from a “sell (d+)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Wall Street Zen cut Helix Energy Solutions Group from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, TD Cowen lifted their target price on Helix Energy Solutions Group from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, April 24th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $14.00.

About Helix Energy Solutions Group

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.