HSBC Holdings PLC has significantly increased its investment in Helix Energy Solutions Group, Inc. by 84.8% during the first quarter of 2023. According to Holdings Channel, the financial institution now owns 35,932 shares of the oil and gas company, having purchased an additional 16,486 shares in that timeframe. As of the end of the quarter, HSBC’s stake in Helix Energy Solutions was valued at approximately $302,000.
A number of other institutional investors have also made moves regarding their stakes in Helix Energy Solutions. Notable transactions include Sunbelt Securities Inc., which acquired a new stake valued at $34,000 in the fourth quarter, and CWM LLC, which increased its holdings by 78.0% in the first quarter, bringing its total to 10,699 shares worth around $89,000. Cresset Asset Management LLC, Quantinno Capital Management LP, and Caxton Associates LP also entered new investments in the company during the fourth quarter, with stakes valued at $91,000, $110,000, and $132,000, respectively.
Market Analysis and Stock Performance
Institutional investors and hedge funds now control a substantial 91.33% of Helix Energy Solutions’ shares. Recently, analysts have provided mixed ratings on the stock. Wall Street Zen downgraded Helix Energy Solutions from a “hold” to a “sell” rating on July 26, 2023. Conversely, Raymond James Financial reaffirmed an “outperform” rating but adjusted its price target from $10.00 to $9.00. Currently, the stock holds an average rating of “Moderate Buy” with a consensus target price of $12.00, according to MarketBeat.com.
On the trading front, Helix Energy Solutions saw its share price open at $6.49 on Thursday, reflecting a decrease of 0.7%. The company has experienced a 12-month low of $5.52 and a 12-month high of $12.33. Its market capitalization stands at approximately $953.23 million, coupled with a price-to-earnings ratio of 20.27 and a beta of 1.65. Additionally, the company has a debt-to-equity ratio of 0.19 and both a current and quick ratio of 2.19.
Recent Earnings and Future Outlook
Helix Energy Solutions released its earnings report on July 23, 2023, revealing an earnings per share (EPS) of ($0.02), which fell short of the consensus estimate of $0.01 by $0.03. The company reported revenue of $302.29 million, contrasting with analyst expectations of $326.62 million. Helix Energy Solutions also noted a return on equity of 3.23% and a net margin of 3.92%. Looking ahead, analysts anticipate that the company will achieve an EPS of 0.26 for the current fiscal year.
Helix Energy Solutions Group, Inc., along with its subsidiaries, operates as an offshore energy services provider, offering specialized services across various regions, including Brazil, the Gulf of Mexico, the East Coast of the United States, the North Sea, the Asia Pacific, and West Africa. The company segments its operations into Well Intervention, Robotics, Production Facilities, and Shallow Water Abandonment.
For further insights into hedge fund holdings and insider trades related to Helix Energy Solutions Group, interested parties can visit HoldingsChannel.com for the latest updates.
