Jacobs Levy Equity Management Inc. Buys 496,278 Shares of Helix Energy Solutions Group, Inc. (NYSE:HLX)

Jacobs Levy Equity Management Inc. increased its stake in shares of Helix Energy Solutions Group, Inc. (NYSE:HLX) by 111.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 941,394 shares of the oil and gas company’s stock after purchasing an additional 496,278 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Helix Energy Solutions Group were worth $10,449,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of HLX. Dimensional Fund Advisors LP increased its position in Helix Energy Solutions Group by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 11,018,797 shares of the oil and gas company’s stock worth $131,559,000 after purchasing an additional 254,880 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of Helix Energy Solutions Group during the 2nd quarter worth approximately $81,862,000. American Century Companies Inc. grew its position in shares of Helix Energy Solutions Group by 24.9% during the 2nd quarter. American Century Companies Inc. now owns 3,413,435 shares of the oil and gas company’s stock worth $40,756,000 after buying an additional 680,635 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Helix Energy Solutions Group by 74.1% during the second quarter. Assenagon Asset Management S.A. now owns 2,314,924 shares of the oil and gas company’s stock worth $27,640,000 after buying an additional 985,101 shares during the last quarter. Finally, Encompass Capital Advisors LLC lifted its holdings in Helix Energy Solutions Group by 2.4% in the second quarter. Encompass Capital Advisors LLC now owns 2,124,306 shares of the oil and gas company’s stock valued at $25,364,000 after buying an additional 50,570 shares during the period. Institutional investors and hedge funds own 91.33% of the company’s stock.

Insider Buying and Selling

In related news, CEO Owen E. Kratz sold 298,419 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $11.92, for a total value of $3,557,154.48. Following the completion of the transaction, the chief executive officer now directly owns 7,171,860 shares of the company’s stock, valued at approximately $85,488,571.20. This represents a 3.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.37% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HLX. TD Cowen lowered their target price on shares of Helix Energy Solutions Group from $16.00 to $15.00 and set a “buy” rating for the company in a report on Friday, October 25th. BTIG Research cut Helix Energy Solutions Group from a “buy” rating to a “neutral” rating in a research note on Thursday, October 24th. Raymond James started coverage on Helix Energy Solutions Group in a research note on Thursday, September 19th. They issued a “strong-buy” rating and a $14.00 target price on the stock. Finally, StockNews.com upgraded Helix Energy Solutions Group from a “sell” rating to a “hold” rating in a research report on Wednesday.

Helix Energy Solutions Group Price Performance

Shares of HLX stock opened at $10.49 on Friday. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.19. Helix Energy Solutions Group, Inc. has a 12-month low of $8.82 and a 12-month high of $13.05. The firm has a fifty day moving average of $10.35 and a 200-day moving average of $10.78. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 262.32 and a beta of 2.45.

Helix Energy Solutions Group (NYSE:HLX) last announced its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.02. Helix Energy Solutions Group had a return on equity of 4.39% and a net margin of 0.54%. The company had revenue of $342.42 million during the quarter, compared to the consensus estimate of $354.74 million. During the same period in the prior year, the company earned $0.19 earnings per share. On average, equities research analysts forecast that Helix Energy Solutions Group, Inc. will post 0.29 earnings per share for the current year.

About Helix Energy Solutions Group

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.