Intrinsic value of Helix Energy Solutions Group - HLX

Previous Close

$7.35

  Intrinsic Value

$2.65

stock screener

  Rating & Target

str. sell

-64%

Previous close

$7.35

 
Intrinsic value

$2.65

 
Up/down potential

-64%

 
Rating

str. sell

We calculate the intrinsic value of HLX stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  36.10
  32.99
  30.19
  27.67
  25.40
  23.36
  21.53
  19.88
  18.39
  17.05
  15.84
  14.76
  13.78
  12.91
  12.11
  11.40
  10.76
  10.19
  9.67
  9.20
  8.78
  8.40
  8.06
  7.76
  7.48
  7.23
  7.01
  6.81
  6.63
  6.46
Revenue, $m
  791
  1,052
  1,370
  1,749
  2,193
  2,706
  3,288
  3,942
  4,667
  5,463
  6,328
  7,262
  8,263
  9,329
  10,460
  11,652
  12,906
  14,221
  15,596
  17,031
  18,527
  20,083
  21,703
  23,386
  25,135
  26,953
  28,843
  30,806
  32,848
  34,972
Variable operating expenses, $m
  268
  357
  464
  593
  744
  917
  1,115
  1,336
  1,582
  1,852
  2,145
  2,462
  2,801
  3,163
  3,546
  3,950
  4,375
  4,821
  5,287
  5,774
  6,281
  6,808
  7,357
  7,928
  8,521
  9,137
  9,778
  10,443
  11,135
  11,855
Fixed operating expenses, $m
  403
  412
  421
  430
  439
  449
  459
  469
  479
  490
  501
  512
  523
  534
  546
  558
  570
  583
  596
  609
  622
  636
  650
  664
  679
  694
  709
  725
  741
  757
Total operating expenses, $m
  671
  769
  885
  1,023
  1,183
  1,366
  1,574
  1,805
  2,061
  2,342
  2,646
  2,974
  3,324
  3,697
  4,092
  4,508
  4,945
  5,404
  5,883
  6,383
  6,903
  7,444
  8,007
  8,592
  9,200
  9,831
  10,487
  11,168
  11,876
  12,612
Operating income, $m
  120
  284
  485
  726
  1,011
  1,340
  1,715
  2,137
  2,606
  3,121
  3,682
  4,289
  4,939
  5,632
  6,368
  7,144
  7,961
  8,817
  9,713
  10,649
  11,624
  12,639
  13,695
  14,794
  15,936
  17,122
  18,356
  19,638
  20,972
  22,359
EBITDA, $m
  268
  481
  741
  1,054
  1,421
  1,846
  2,330
  2,875
  3,479
  4,143
  4,867
  5,648
  6,486
  7,379
  8,325
  9,325
  10,376
  11,479
  12,632
  13,836
  15,091
  16,398
  17,758
  19,171
  20,640
  22,167
  23,754
  25,404
  27,120
  28,905
Interest expense (income), $m
  19
  27
  40
  57
  77
  101
  129
  162
  199
  241
  287
  337
  392
  452
  515
  583
  655
  731
  811
  895
  982
  1,073
  1,169
  1,268
  1,371
  1,478
  1,589
  1,705
  1,825
  1,950
  2,080
Earnings before tax, $m
  94
  244
  428
  649
  910
  1,210
  1,553
  1,938
  2,365
  2,834
  3,345
  3,896
  4,487
  5,117
  5,784
  6,489
  7,230
  8,006
  8,819
  9,667
  10,550
  11,471
  12,428
  13,423
  14,458
  15,533
  16,651
  17,813
  19,022
  20,280
Tax expense, $m
  25
  66
  116
  175
  246
  327
  419
  523
  639
  765
  903
  1,052
  1,212
  1,382
  1,562
  1,752
  1,952
  2,162
  2,381
  2,610
  2,849
  3,097
  3,356
  3,624
  3,904
  4,194
  4,496
  4,810
  5,136
  5,475
Net income, $m
  68
  178
  313
  474
  664
  884
  1,134
  1,415
  1,726
  2,069
  2,442
  2,844
  3,276
  3,735
  4,223
  4,737
  5,278
  5,845
  6,438
  7,057
  7,702
  8,374
  9,072
  9,799
  10,554
  11,339
  12,155
  13,004
  13,886
  14,804

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,067
  4,079
  5,310
  6,779
  8,502
  10,488
  12,746
  15,279
  18,089
  21,173
  24,527
  28,147
  32,027
  36,160
  40,541
  45,164
  50,025
  55,121
  60,450
  66,012
  71,808
  77,842
  84,119
  90,643
  97,424
  104,470
  111,793
  119,404
  127,318
  135,549
Adjusted assets (=assets-cash), $m
  3,067
  4,079
  5,310
  6,779
  8,502
  10,488
  12,746
  15,279
  18,089
  21,173
  24,527
  28,147
  32,027
  36,160
  40,541
  45,164
  50,025
  55,121
  60,450
  66,012
  71,808
  77,842
  84,119
  90,643
  97,424
  104,470
  111,793
  119,404
  127,318
  135,549
Revenue / Adjusted assets
  0.258
  0.258
  0.258
  0.258
  0.258
  0.258
  0.258
  0.258
  0.258
  0.258
  0.258
  0.258
  0.258
  0.258
  0.258
  0.258
  0.258
  0.258
  0.258
  0.258
  0.258
  0.258
  0.258
  0.258
  0.258
  0.258
  0.258
  0.258
  0.258
  0.258
Average production assets, $m
  2,355
  3,132
  4,077
  5,205
  6,528
  8,053
  9,787
  11,732
  13,889
  16,257
  18,832
  21,612
  24,591
  27,764
  31,128
  34,677
  38,410
  42,322
  46,414
  50,684
  55,135
  59,768
  64,587
  69,596
  74,803
  80,213
  85,836
  91,680
  97,756
  104,076
Working capital, $m
  40
  53
  68
  87
  110
  135
  164
  197
  233
  273
  316
  363
  413
  466
  523
  583
  645
  711
  780
  852
  926
  1,004
  1,085
  1,169
  1,257
  1,348
  1,442
  1,540
  1,642
  1,749
Total debt, $m
  742
  1,050
  1,424
  1,871
  2,395
  2,998
  3,685
  4,455
  5,309
  6,247
  7,266
  8,367
  9,546
  10,803
  12,135
  13,540
  15,018
  16,567
  18,187
  19,878
  21,640
  23,474
  25,382
  27,366
  29,427
  31,569
  33,795
  36,109
  38,515
  41,017
Total liabilities, $m
  932
  1,240
  1,614
  2,061
  2,585
  3,188
  3,875
  4,645
  5,499
  6,437
  7,456
  8,557
  9,736
  10,993
  12,324
  13,730
  15,208
  16,757
  18,377
  20,068
  21,830
  23,664
  25,572
  27,555
  29,617
  31,759
  33,985
  36,299
  38,705
  41,207
Total equity, $m
  2,135
  2,839
  3,696
  4,719
  5,917
  7,300
  8,871
  10,634
  12,590
  14,736
  17,071
  19,591
  22,291
  25,168
  28,217
  31,434
  34,817
  38,364
  42,073
  45,944
  49,979
  54,178
  58,547
  63,088
  67,807
  72,711
  77,808
  83,105
  88,613
  94,342
Total liabilities and equity, $m
  3,067
  4,079
  5,310
  6,780
  8,502
  10,488
  12,746
  15,279
  18,089
  21,173
  24,527
  28,148
  32,027
  36,161
  40,541
  45,164
  50,025
  55,121
  60,450
  66,012
  71,809
  77,842
  84,119
  90,643
  97,424
  104,470
  111,793
  119,404
  127,318
  135,549
Debt-to-equity ratio
  0.350
  0.370
  0.390
  0.400
  0.400
  0.410
  0.420
  0.420
  0.420
  0.420
  0.430
  0.430
  0.430
  0.430
  0.430
  0.430
  0.430
  0.430
  0.430
  0.430
  0.430
  0.430
  0.430
  0.430
  0.430
  0.430
  0.430
  0.430
  0.430
  0.430
Adjusted equity ratio
  0.696
  0.696
  0.696
  0.696
  0.696
  0.696
  0.696
  0.696
  0.696
  0.696
  0.696
  0.696
  0.696
  0.696
  0.696
  0.696
  0.696
  0.696
  0.696
  0.696
  0.696
  0.696
  0.696
  0.696
  0.696
  0.696
  0.696
  0.696
  0.696
  0.696

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  68
  178
  313
  474
  664
  884
  1,134
  1,415
  1,726
  2,069
  2,442
  2,844
  3,276
  3,735
  4,223
  4,737
  5,278
  5,845
  6,438
  7,057
  7,702
  8,374
  9,072
  9,799
  10,554
  11,339
  12,155
  13,004
  13,886
  14,804
Depreciation, amort., depletion, $m
  148
  197
  256
  327
  411
  506
  616
  738
  874
  1,022
  1,184
  1,359
  1,547
  1,746
  1,958
  2,181
  2,416
  2,662
  2,919
  3,188
  3,468
  3,759
  4,062
  4,377
  4,705
  5,045
  5,398
  5,766
  6,148
  6,546
Funds from operations, $m
  216
  375
  569
  801
  1,075
  1,390
  1,749
  2,152
  2,600
  3,091
  3,626
  4,203
  4,822
  5,481
  6,180
  6,918
  7,693
  8,506
  9,357
  10,244
  11,169
  12,133
  13,134
  14,176
  15,259
  16,384
  17,554
  18,770
  20,034
  21,350
Change in working capital, $m
  10
  13
  16
  19
  22
  26
  29
  33
  36
  40
  43
  47
  50
  53
  57
  60
  63
  66
  69
  72
  75
  78
  81
  84
  87
  91
  94
  98
  102
  106
Cash from operations, $m
  206
  362
  553
  782
  1,052
  1,364
  1,720
  2,120
  2,564
  3,052
  3,583
  4,157
  4,772
  5,428
  6,124
  6,858
  7,631
  8,441
  9,288
  10,173
  11,095
  12,055
  13,053
  14,092
  15,171
  16,293
  17,459
  18,672
  19,932
  21,244
Maintenance CAPEX, $m
  -109
  -148
  -197
  -256
  -327
  -411
  -506
  -616
  -738
  -874
  -1,022
  -1,184
  -1,359
  -1,547
  -1,746
  -1,958
  -2,181
  -2,416
  -2,662
  -2,919
  -3,188
  -3,468
  -3,759
  -4,062
  -4,377
  -4,705
  -5,045
  -5,398
  -5,766
  -6,148
New CAPEX, $m
  -626
  -777
  -945
  -1,128
  -1,322
  -1,525
  -1,734
  -1,945
  -2,157
  -2,368
  -2,576
  -2,780
  -2,979
  -3,173
  -3,364
  -3,550
  -3,732
  -3,913
  -4,092
  -4,271
  -4,451
  -4,633
  -4,819
  -5,010
  -5,206
  -5,410
  -5,622
  -5,844
  -6,076
  -6,320
Cash from investing activities, $m
  -735
  -925
  -1,142
  -1,384
  -1,649
  -1,936
  -2,240
  -2,561
  -2,895
  -3,242
  -3,598
  -3,964
  -4,338
  -4,720
  -5,110
  -5,508
  -5,913
  -6,329
  -6,754
  -7,190
  -7,639
  -8,101
  -8,578
  -9,072
  -9,583
  -10,115
  -10,667
  -11,242
  -11,842
  -12,468
Free cash flow, $m
  -529
  -563
  -589
  -602
  -597
  -571
  -520
  -441
  -331
  -190
  -15
  193
  434
  708
  1,014
  1,351
  1,717
  2,112
  2,535
  2,983
  3,456
  3,954
  4,476
  5,020
  5,588
  6,178
  6,792
  7,429
  8,090
  8,776
Issuance/(repayment) of debt, $m
  247
  308
  374
  447
  524
  604
  686
  770
  854
  938
  1,020
  1,101
  1,179
  1,256
  1,332
  1,405
  1,478
  1,549
  1,620
  1,691
  1,762
  1,834
  1,908
  1,983
  2,061
  2,142
  2,226
  2,314
  2,406
  2,502
Issuance/(repurchase) of shares, $m
  500
  526
  544
  549
  535
  499
  438
  349
  229
  77
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  747
  834
  918
  996
  1,059
  1,103
  1,124
  1,119
  1,083
  1,015
  1,020
  1,101
  1,179
  1,256
  1,332
  1,405
  1,478
  1,549
  1,620
  1,691
  1,762
  1,834
  1,908
  1,983
  2,061
  2,142
  2,226
  2,314
  2,406
  2,502
Total cash flow (excl. dividends), $m
  218
  271
  329
  393
  461
  532
  604
  678
  752
  825
  1,005
  1,293
  1,614
  1,965
  2,346
  2,756
  3,195
  3,661
  4,155
  4,674
  5,218
  5,788
  6,384
  7,004
  7,649
  8,321
  9,018
  9,743
  10,496
  11,278
Retained Cash Flow (-), $m
  -568
  -704
  -857
  -1,023
  -1,199
  -1,383
  -1,571
  -1,763
  -1,955
  -2,146
  -2,335
  -2,520
  -2,700
  -2,877
  -3,049
  -3,218
  -3,383
  -3,547
  -3,709
  -3,871
  -4,034
  -4,200
  -4,368
  -4,541
  -4,719
  -4,904
  -5,097
  -5,298
  -5,508
  -5,729
Prev. year cash balance distribution, $m
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -349
  -433
  -528
  -630
  -738
  -851
  -967
  -1,085
  -1,204
  -1,321
  -1,330
  -1,226
  -1,087
  -912
  -703
  -461
  -188
  115
  446
  803
  1,184
  1,589
  2,015
  2,463
  2,930
  3,416
  3,922
  4,445
  4,988
  5,549
Discount rate, %
  5.00
  5.25
  5.51
  5.79
  6.08
  6.38
  6.70
  7.04
  7.39
  7.76
  8.14
  8.55
  8.98
  9.43
  9.90
  10.39
  10.91
  11.46
  12.03
  12.63
  13.27
  13.93
  14.63
  15.36
  16.13
  16.93
  17.78
  18.67
  19.60
  20.58
PV of cash for distribution, $m
  -333
  -391
  -449
  -503
  -549
  -587
  -614
  -630
  -634
  -626
  -562
  -458
  -355
  -258
  -171
  -95
  -32
  16
  51
  74
  87
  90
  87
  80
  70
  59
  47
  37
  28
  20
Current shareholders' claim on cash, %
  68.7
  50.8
  39.9
  32.9
  28.3
  25.3
  23.3
  22.0
  21.4
  21.2
  21.2
  21.2
  21.2
  21.2
  21.2
  21.2
  21.2
  21.2
  21.2
  21.2
  21.2
  21.2
  21.2
  21.2
  21.2
  21.2
  21.2
  21.2
  21.2
  21.2

Helix Energy Solutions Group, Inc. is an international offshore energy services company. The Company provides services to the offshore energy industry, with a focus on well intervention and robotics operations. The Company operates in three segments: Well Intervention, Robotics and Production Facilities. Its Well Intervention segment includes the Company's vessels and equipment used to perform well intervention services primarily in the Gulf of Mexico and North Sea regions. Its Robotics segment includes remotely operated vehicles (ROVs), trenchers and ROVDrills designed to complement offshore construction and well intervention services, and operates chartered ROV support vessels. Its Production Facilities segment includes the Helix Producer I (the HP I), a floating production vessel, the Helix Fast Response System (the HFRS), and its ownership interest in Independence Hub, LLC (Independence Hub).

FINANCIAL RATIOS  of  Helix Energy Solutions Group (HLX)

Valuation Ratios
P/E Ratio -10.9
Price to Sales 1.8
Price to Book 0.7
Price to Tangible Book
Price to Cash Flow 22.7
Price to Free Cash Flow -6
Growth Rates
Sales Growth Rate -29.9%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -41.9%
Cap. Spend. - 3 Yr. Gr. Rate -10.5%
Financial Strength
Quick Ratio 5
Current Ratio 0.1
LT Debt to Equity 43.5%
Total Debt to Equity 48.8%
Interest Coverage -4
Management Effectiveness
Return On Assets -2.8%
Ret/ On Assets - 3 Yr. Avg. -3.1%
Return On Total Capital -4.1%
Ret/ On T. Cap. - 3 Yr. Avg. -4.3%
Return On Equity -6.3%
Return On Equity - 3 Yr. Avg. -6.6%
Asset Turnover 0.2
Profitability Ratios
Gross Margin 9.6%
Gross Margin - 3 Yr. Avg. 18.9%
EBITDA Margin 8%
EBITDA Margin - 3 Yr. Avg. -2.2%
Operating Margin -13.5%
Oper. Margin - 3 Yr. Avg. -11.3%
Pre-Tax Margin -19.3%
Pre-Tax Margin - 3 Yr. Avg. -21.4%
Net Profit Margin -16.6%
Net Profit Margin - 3 Yr. Avg. -17.7%
Effective Tax Rate 13.8%
Eff/ Tax Rate - 3 Yr. Avg. 20.1%
Payout Ratio 0%

HLX stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the HLX stock intrinsic value calculation we used $581.383 million for the last fiscal year's total revenue generated by Helix Energy Solutions Group. The default revenue input number comes from 0001 income statement of Helix Energy Solutions Group. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our HLX stock valuation model: a) initial revenue growth rate of 36.1% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5%, whose default value for HLX is calculated based on our internal credit rating of Helix Energy Solutions Group, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Helix Energy Solutions Group.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of HLX stock the variable cost ratio is equal to 33.9%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $394 million in the base year in the intrinsic value calculation for HLX stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Helix Energy Solutions Group.

Corporate tax rate of 27% is the nominal tax rate for Helix Energy Solutions Group. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the HLX stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for HLX are equal to 297.6%.

Life of production assets of 15.9 years is the average useful life of capital assets used in Helix Energy Solutions Group operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for HLX is equal to 5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1567.393 million for Helix Energy Solutions Group - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 148.113 million for Helix Energy Solutions Group is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Helix Energy Solutions Group at the current share price and the inputted number of shares is $1.1 billion.

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COMPANY NEWS

▶ Helix Energy: 3Q Earnings Snapshot   [07:30PM  Associated Press]
▶ Helix Reports Third Quarter 2018 Results   [07:22PM  Business Wire]
▶ Helix to Participate in Upcoming Event   [04:15PM  Business Wire]
▶ Helix to Present at the Barclays CEO EnergyPower Conference   [Aug-30-18 06:00PM  Business Wire]
▶ Helix to Participate in Upcoming Event   [Aug-14-18 06:15PM  Business Wire]
▶ Top Stock Picks for the Week of August 6th   [Aug-07-18 01:38PM  Zacks]
▶ 5 Stocks With Amazingly High Profitability to Own Now   [Aug-01-18 10:38AM  InvestorPlace]
▶ Helix Energy: 2Q Earnings Snapshot   [Jul-23-18 06:55PM  Associated Press]
▶ Helix Reports Second Quarter 2018 Results   [06:50PM  Business Wire]

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