The Manufacturers Life Insurance Company Makes New $509,000 Investment in Helix Energy Solutions Group, Inc. $HLX

The Manufacturers Life Insurance Company bought a new position in shares of Helix Energy Solutions Group, Inc. (NYSE:HLX) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 58,262 shares of the oil and gas company’s stock, valued at approximately $509,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Algert Global LLC increased its stake in shares of Helix Energy Solutions Group by 508.9% in the 2nd quarter. Algert Global LLC now owns 448,000 shares of the oil and gas company’s stock valued at $3,916,000 after buying an additional 374,420 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Helix Energy Solutions Group in the second quarter valued at about $2,994,000. Quantbot Technologies LP acquired a new stake in Helix Energy Solutions Group in the second quarter worth about $1,208,000. EP Wealth Advisors LLC acquired a new position in Helix Energy Solutions Group during the 2nd quarter valued at about $482,000. Finally, Nierenberg Investment Management Company LLC bought a new position in shares of Helix Energy Solutions Group in the 2nd quarter valued at about $1,087,693. Institutional investors and hedge funds own 91.33% of the company’s stock.

Helix Energy Solutions Group Stock Up 0.2%

Shares of NYSE:HLX opened at $10.62 on Monday. The company has a 50 day moving average price of $9.68 and a two-hundred day moving average price of $9.58. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.47 and a current ratio of 3.47. The company has a market capitalization of $1.57 billion, a PE ratio of 39.33 and a beta of 1.17. Helix Energy Solutions Group, Inc. has a 52 week low of $6.03 and a 52 week high of $10.75.

Helix Energy Solutions Group (NYSE:HLX) last announced its quarterly earnings results on Thursday, August 6th. The oil and gas company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. The company had revenue of $304.02 million during the quarter, compared to analyst estimates of $314.56 million. Helix Energy Solutions Group had a net margin of 3.04% and a return on equity of 2.95%. Analysts forecast that Helix Energy Solutions Group, Inc. will post 0.28 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on HLX. Wall Street Zen downgraded shares of Helix Energy Solutions Group from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. 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. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $14.00.

Helix Energy Solutions Group Company Profile

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.