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 0.68% to 23.29 million shares with purchase of 0.16 million shares. This fresh investment now brings its stake to 15.34% valued currently at $192.81 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.35 million to 13.21 million shares. And Dimensional Fund Advisors LP has lifted its position by 2.06% or 0.16 million shares – to 7.97 million shares.
With over 2.92 million Helix Energy Solutions Group Inc. (HLX) shares trading Tuesday and a closing price of $7.76 on the day, the dollar volume was approximately $22.66 million. The shares have shown a positive half year performance of 75.96% and its price on 03/14/23 gained nearly 1.97%. Currently, there are 151.43M common shares owned by the public and among those 142.49M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for HLX have a consensus price objective of $10.71. The analysts have set the share’s price value over the next 12 months at a high of $12.00 and a low of $8.25. The average price target is 25.81% above its recent price level and an upside to the estimated low will see the stock gain 5.94% over that period. But an upside of 35.33% will see the stock hit the forecast high price target while median target price for the stock is $11.00.
Insiders at the company have transacted a total of 55 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 32 of these insider trades were purchases, accounting for 1,017,541 shares. Insider sales of the common stock occurred on 23 occasions, with total insider shares sold totaling 730,347 shares.
The top 3 mutual fund holders in Helix Energy Solutions Group Inc. are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and VanEck Oil Services ETF. iShares Core S&P Small Cap ETF owns 10.8 million shares of the company’s stock, all valued at over $89.4 million. The company bought an additional 26260.0 shares recently to bring their total holdings to about 7.11% of the shares outstanding. VanEck Oil Services ETF bought 54618.0 shares to bring its total holdings to over 4.37 million shares at a value of $36.21 million. VanEck Oil Services ETF now owns shares totaling to 2.88% of the shares outstanding.
Shares of Helix Energy Solutions Group Inc. (NYSE: HLX) opened at $7.72, up $0.11 from a prior closing price of $7.61. However, the script later moved the day high at 8.08, up 1.97%. The company’s stock has a 5-day price change of -8.38% and 34.02% over the past three months. HLX shares are trading 5.15% year to date (YTD), with the 12-month market performance up to 53.06% higher. It has a 12-month low price of $2.47 and touched a high of $9.16 over the same period. HLX has an average intraday trading volume of 1.91 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 -5.38%, -1.50%, and 41.08% respectively.
Institutional ownership of Helix Energy Solutions Group Inc. (NYSE: HLX) shares accounts for 88.40% of the company’s 151.43M shares outstanding. Mutual fund holders own 39.16%, while other institutional holders and individual stakeholders account for 53.97% and 13.41% respectively.
It has a market capitalization of $1.20B and a beta (3y monthly) value of 2.80. The earnings-per-share (ttm) stands at -$0.58. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.53% over the week and 5.01% over the month.
Analysts forecast that Helix Energy Solutions Group Inc. (HLX) will achieve an EPS of $0 for the current quarter, -$0.02 for the next quarter and $0.29 for 2023. 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 -$0.17 a year ago. Earnings per share for the fiscal year are expected to decrease by -40.90%, and 47.50% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate Helix Energy Solutions Group Inc. (HLX) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 1 of the 7 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. BTIG Research stated their Buy rating for the stock in a research note on October 26, 2022, with the firm’s price target at $10. Evercore ISI coverage for the Helix Energy Solutions Group Inc. (HLX) stock in a research note released on July 27, 2022 offered a Outperform rating with a price target of $8. Piper Sandler was of a view on February 01, 2022 that the stock is Overweight, while Piper Sandler gave the stock Neutral rating on July 28, 2021, issuing a price target of $5.30- $4.50. BofA Securities on their part issued Underperform rating on July 16, 2021.
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