Growing Through Challenges? – Helix Energy Solutions Group Inc. (HLX)

DE Stock
DE Stock

BlackRock Fund Advisors recently announced the acquisition of new stake in Helix Energy Solutions Group Inc. (NYSE:HLX). The institutional investor has increased its shareholding in the Energy company by 2.56% to 20.25 million shares with purchase of 0.51 million shares. This fresh investment now brings its stake to 13.50% valued currently at $84.85 million. In addition, Macquarie Investment Management B.. raised its holdings by 0.11 million to 5.71 million shares. And SSgA Funds Management, Inc. has lifted its position by 17.26% or 0.81 million shares – to 5.49 million shares.

With over 1.4 million Helix Energy Solutions Group Inc. (HLX) shares trading Monday and a closing price of $3.58 on the day, the dollar volume was approximately $5.02 million. The shares have shown a negative weekly performance of -6.53% and its price on 08/31/20 lost nearly -5.29%. Currently, there are 148.97M common shares owned by the public and among those 141.03M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for HLX have a consensus price objective of $5.88. The analysts have set the share’s price value over the next 12 months at a high of $7.00 and a low of $5.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Helix Energy Solutions Group Inc. stock is 2.00 for the next 12 months. The average price target is 39.12% above its last price level and an upside to the estimated low will see the stock gain 28.4% over that period. But an upside of 48.86% will see the stock hit the forecast high price target while mean target price for the stock is $6.00.

Insiders at the company have transacted a total of 50 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 26 of these insider trades were purchases, accounting for 1,279,781 shares. Insider sales of the common stock occurred on 24 occasions, with total insider shares sold totaling 467,254 shares.

The top 3 mutual fund holders in Helix Energy Solutions Group Inc. are iShares Core S&P Small Cap ETF, Victory Sycamore Small Company Op, and VanEck Vectors – Oil Services ETF. iShares Core S&P Small Cap ETF owns 8.89 million shares of the company’s stock, all valued at over $37.27 million. The company bought an additional 0.1 million shares recently to bring their total holdings to about 5.93% of the shares outstanding. VanEck Vectors – Oil Services ETF now owns shares totaling to 2.92% of the shares outstanding.

Shares of Helix Energy Solutions Group Inc. (NYSE: HLX) opened at $3.76, down -$0.02 from a prior closing price of $3.78. However, the script later closed the day at $3.58, down -5.29%. The company’s stock has a 5-day price change of -6.53% and -5.29% over the past three months. HLX shares are trading -62.82% year to date (YTD), with the 12-month market performance down to -50.55% lower. It has a 12-month low price of $0.99 and touched a high of $10.00 over the same period. Currently, 1.4 million shares have been traded, compared to an average intraday trading volume of 3.34 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -14.45%, -8.55%, and -31.18% respectively.

Institutional ownership of Helix Energy Solutions Group Inc. (NYSE: HLX) shares accounts for 85.40% of the company’s 148.97M shares outstanding. Mutual fund holders own 26.65%, while other institutional holders and individual stakeholders account for 57.95% and 12.76% respectively.

It has a market capitalization of $517.31M and a beta (3y monthly) value of 3.59. The stock’s trailing 12-month PE ratio is 21.06, while the earnings-per-share (ttm) stands at $0.17. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.45% over the week and 5.50% over the month.

Analysts forecast that Helix Energy Solutions Group Inc. (HLX) will achieve an EPS of $0 for the current quarter, -$0.07 for the next quarter and -$0.29 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.03 while analysts give the company a high EPS estimate of $0.04. Comparatively, EPS for the current quarter was $0.21 a year ago. Earnings per share for the fiscal year are expected to increase by 98.50%, and -163.60% over the next financial year.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Helix Energy Solutions Group Inc. (HLX) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 2 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the HLX, a number of firms have released research notes about the stock. Piper Sandler stated their Overweight rating for the stock in a research note on July 23, 2020, with the firm’s price target at. BofA/Merrill coverage for the Helix Energy Solutions Group Inc. (HLX) stock in a research note released on May 28, 2020 offered a Buy rating with a price target of $4. CapitalOne was of a view on March 17, 2020 that the stock is Equal Weight, while Piper Sandler gave the stock Neutral rating on March 13, 2020, issuing a price target of $10.75- $6.25. Raymond James on their part issued Outperform rating on March 10, 2020.


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