Prominent Runners: Helix Energy Solutions Group, Inc. (NYSE:HLX)


Helix Energy Solutions Group, Inc. (NYSE:HLX) added 14.21% and closed its last session at $10.45. The stock has the market capitalization of $1.26 Billion with the total outstanding shares of 120.55 Million. Helix Energy Solutions Group, Inc.. has Analysts’ Mean Recommendation of 1.57 between the scale of 1 to 5 (1 represents Strong Buy and 5 means Sell). The stock currently has P/E of 0 for trailing twelve months while its Forward P/E is 0.

Helix Energy Solutions Group, Inc. (NYSE:HLX) touched its 52-Week High of $10.96 on Oct 20, 2016 while it’s 52-Week Low of $2.6 on Feb 12, 2016. The company currently has Return on Assets of -2.3 percent, Return on Equity of -4.3% and Return on Investment of -10.2 percent. The stock currently showing Weekly Volatility of 5.49%% and Monthly Volatility of 4.56% Percent with Average True Range of 0.57 and Beta of 2.48.

The 11 analysts offering 12-month price forecasts for Helix Energy Solutions Group Inc have a median target of 12.00, with a high estimate of 16.00 and a low estimate of 8.00. The median estimate represents a +14.83% increase from the last price of 10.45.

Press Release:

The Company on 26 November declared it has priced an offering of $125 million of 4.25% Convertible Senior Notes due 2022 (the “2022 Notes”). Helix intends to use the proceeds from the issuance of the 2022 Notes, as well as cash on hand, to repurchase and retire $125 million of its currently outstanding $185 million principal amount of 3.25% Convertible Senior Notes due 2032 in separate, privately negotiated transactions. Helix expects to close the offering of the 2022 Notes on or about November 1, 2016, subject to the satisfaction of customary closing conditions. Raymond James & Associates, Inc. is acting as the sole underwriter for this offering.

The 2022 Notes are to be issued via an underwritten public offering, resulting in expected net proceeds of approximately $121.5 million, after deducting underwriting fees and estimated offering expenses. Interest on the 2022 Notes will be paid semi-annually on May 1 and November 1 beginning on May 1, 2017. During certain periods and subject to certain conditions, the notes will be convertible by holders into shares of Helix’s common stock at an initial conversion rate of 71.9748 shares of common stock per $1,000 principal amount of notes, which is equivalent to an initial conversion price of approximately $13.89 per share of common stock, subject to adjustment. Upon conversion, holders will receive, at Helix’s discretion, cash, shares of Helix’s common stock or a combination thereof.

In addition, the holders of the 2022 Notes may require Helix to repurchase the notes under certain circumstances, and Helix may redeem all or any portion of the notes, at its option, on or after November 1, 2019, subject to certain conditions, at a redemption price payable in cash equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest and a “make-whole premium” with a value equal to the present value of the remaining scheduled payments of interest on the notes to be redeemed through May 1, 2022.

Company Profile:

Helix Energy Solutions Group Inc., is a leading marine contractor and operator of offshore oil and gas properties and production facilities. The company seeks to align the interests of the producer and the contractor by investing in mature offshore oil and gas properties, hub production facilities and proven undeveloped reserve plays where Helix Energy Solutions Group adds value by deploying vessels from its diverse contracting fleet. This unique integration of marine contracting and oil and gas operations is designed to add stability to revenues and earnings in an industry as cyclical as energy.