Citigroup Inc. increased its stake in Helix Energy Solutions Group, Inc. (NYSE:HLX – Get Rating) by 17.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 119,772 shares of the oil and gas company’s stock after acquiring an additional 17,818 shares during the quarter. Citigroup Inc. owned approximately 0.08% of Helix Energy Solutions Group worth $884,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC acquired a new stake in shares of Helix Energy Solutions Group in the fourth quarter valued at about $26,000. Point72 Hong Kong Ltd boosted its holdings in Helix Energy Solutions Group by 388.4% in the 3rd quarter. Point72 Hong Kong Ltd now owns 7,423 shares of the oil and gas company’s stock worth $29,000 after buying an additional 5,903 shares during the last quarter. Captrust Financial Advisors increased its stake in Helix Energy Solutions Group by 91.4% during the 1st quarter. Captrust Financial Advisors now owns 6,907 shares of the oil and gas company’s stock worth $33,000 after buying an additional 3,298 shares in the last quarter. Penn Capital Management Company LLC acquired a new position in shares of Helix Energy Solutions Group during the third quarter valued at approximately $42,000. Finally, Pathstone Family Office LLC purchased a new position in shares of Helix Energy Solutions Group in the third quarter valued at approximately $43,000. 87.78% of the stock is currently owned by institutional investors and hedge funds.
Helix Energy Solutions Group Trading Down 2.6 %
Shares of Helix Energy Solutions Group stock opened at $6.28 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.56 and a quick ratio of 1.56. The stock’s 50 day simple moving average is $7.21 and its 200-day simple moving average is $7.29. The stock has a market cap of $951.42 million, a P/E ratio of -19.03 and a beta of 2.78. Helix Energy Solutions Group, Inc. has a 1-year low of $2.47 and a 1-year high of $9.16.
Helix Energy Solutions Group announced that its Board of Directors has initiated a share repurchase program on Monday, February 20th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 16.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
Wall Street Analyst Weigh In
Separately, StockNews.com started coverage on Helix Energy Solutions Group in a research note on Thursday, May 18th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.80.
Helix Energy Solutions Group Profile
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.
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