Arizona State Retirement System Increases Stock Position in Helix Energy Solutions Group, Inc. (NYSE:HLX)

Arizona State Retirement System increased its position in shares of Helix Energy Solutions Group, Inc. (NYSE:HLX – Get Rating) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,673 shares of the oil and gas company’s stock after buying an additional 1,523 shares during the period. Arizona State Retirement System’s holdings in Helix Energy Solutions Group were worth $300,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position 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 worth $5,611,000 after acquiring an additional 717,074 shares during the period. Bank of New York Mellon Corp raised its position in Helix Energy Solutions Group by 6.3% during the first quarter. Bank of New York Mellon Corp now owns 6,810,612 shares of the oil and gas company’s stock worth $32,555,000 after acquiring an additional 401,949 shares during the period. Private Advisor Group LLC acquired a new position in Helix Energy Solutions Group during the first quarter worth $76,000. Citigroup Inc. raised its position in Helix Energy Solutions Group by 11.9% during the first quarter. Citigroup Inc. now owns 123,076 shares of the oil and gas company’s stock worth $588,000 after acquiring an additional 13,099 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in Helix Energy Solutions Group by 39.0% during the first quarter. PNC Financial Services Group Inc. now owns 23,276 shares of the oil and gas company’s stock worth $110,000 after acquiring an additional 6,527 shares during the period. 87.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Helix Energy Solutions Group in a research report on Thursday, May 18th. They set a “hold” rating for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Helix Energy Solutions Group has an average rating of “Moderate Buy” and an average target price of $7.80.

Helix Energy Solutions Group Price Performance

Shares of NYSE HLX opened at $6.76 on Tuesday. The firm has a 50-day simple moving average of $7.33 and a 200-day simple moving average of $7.31. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of -20.48 and a beta of 2.78. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.15. Helix Energy Solutions Group, Inc. has a 52 week low of $2.47 and a 52 week high of $9.16.

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 EPS for the quarter. The business had revenue of $287.82 million during the quarter, compared to analysts’ expectations of $244.70 million. Helix Energy Solutions Group had a negative net margin of 5.23% and a negative return on equity of 2.25%. On average, equities analysts predict that Helix Energy Solutions Group, Inc. will post 0.46 earnings per share for the current fiscal year.

Helix Energy Solutions Group announced that its Board of Directors has approved a share buyback plan on Monday, February 20th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the oil and gas company to repurchase up to 16.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.