Gate City Capital Management LLC Acquires 281,771 Shares of Helix Energy Solutions Group, Inc. $HLX

Gate City Capital Management LLC raised its holdings in shares of Helix Energy Solutions Group, Inc. (NYSE:HLX) by 8.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,581,525 shares of the oil and gas company’s stock after purchasing an additional 281,771 shares during the quarter. Helix Energy Solutions Group makes up 13.3% of Gate City Capital Management LLC’s holdings, making the stock its 3rd biggest position. Gate City Capital Management LLC owned about 2.44% of Helix Energy Solutions Group worth $22,349,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bessemer Group Inc. raised its position in shares of Helix Energy Solutions Group by 243.4% in the second quarter. Bessemer Group Inc. now owns 5,045 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 3,576 shares during the period. AlphaQuest LLC grew its stake in Helix Energy Solutions Group by 594,600.0% in the 1st quarter. AlphaQuest LLC now owns 5,947 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 5,946 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in Helix Energy Solutions Group by 43.1% in the 1st quarter. Smartleaf Asset Management LLC now owns 7,053 shares of the oil and gas company’s stock valued at $59,000 after acquiring an additional 2,123 shares during the period. XTX Topco Ltd acquired a new stake in Helix Energy Solutions Group during the second quarter worth approximately $80,000. Finally, Inceptionr LLC bought a new stake in shares of Helix Energy Solutions Group during the second quarter worth approximately $84,000. 91.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HLX. Cowen reiterated a “buy” rating on shares of Helix Energy Solutions Group in a research note on Friday, October 24th. TD Cowen increased their price objective on Helix Energy Solutions Group from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, October 24th. Zacks Research raised Helix Energy Solutions Group from a “strong sell” rating to a “hold” rating in a report on Thursday, November 20th. Wall Street Zen raised shares of Helix Energy Solutions Group from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Helix Energy Solutions Group in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Helix Energy Solutions Group currently has a consensus rating of “Moderate Buy” and an average price target of $10.50.

Helix Energy Solutions Group Stock Performance

NYSE:HLX opened at $7.01 on Friday. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 25.02 and a beta of 1.26. Helix Energy Solutions Group, Inc. has a fifty-two week low of $5.52 and a fifty-two week high of $9.75. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.54 and a current ratio of 2.54. The stock has a fifty day moving average price of $6.71 and a 200-day moving average price of $6.51.

Helix Energy Solutions Group (NYSE:HLX) last posted its quarterly earnings results on Wednesday, October 22nd. The oil and gas company reported $0.15 EPS for the quarter, meeting analysts’ consensus estimates of $0.15. Helix Energy Solutions Group had a return on equity of 2.75% and a net margin of 3.25%.The business had revenue of $376.96 million during the quarter, compared to the consensus estimate of $361.93 million. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities analysts anticipate that Helix Energy Solutions Group, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity at Helix Energy Solutions Group

In other news, COO Scott Andrew Sparks sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $6.88, for a total transaction of $275,200.00. Following the completion of the sale, the chief operating officer owned 301,042 shares of the company’s stock, valued at approximately $2,071,168.96. This represents a 11.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 6.60% of the company’s stock.

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.