Abbington Investment Group Acquires Shares of 56,139 Helmerich & Payne, Inc. $HP

Key Points

• Abbington Investment Group bought 56,139 shares of Helmerich & Payne in Q4 (about $1.61M), making the position ~1.1% of its portfolio and the fund's 29th-largest holding; Abbington now owns roughly 0.06% of HP.
• Helmerich & Payne declared a quarterly dividend of $0.25 (annualized $1.00) for a ~2.9% yield, with an ex-dividend date of May 18 and payment on June 1.
• Analyst sentiment is mixed with an average rating of Hold and a $37 target; some firms raised targets (Barclays $39, Susquehanna $42) while others remain neutral/sell, and the company recently missed EPS (-$0.15 vs. $0.12) despite 50% revenue growth year-over-year.

Abbington Investment Group acquired a new stake in Helmerich & Payne, Inc. (NYSE:HP - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 56,139 shares of the oil and gas company's stock, valued at approximately $1,610,000. Helmerich & Payne comprises approximately 1.1% of Abbington Investment Group's investment portfolio, making the stock its 29th biggest holding. Abbington Investment Group owned approximately 0.06% of Helmerich & Payne as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in Helmerich & Payne by 2,433.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company's stock worth $25,000 after buying an additional 1,582 shares in the last quarter. Rothschild Investment LLC lifted its holdings in Helmerich & Payne by 1,377.8% during the 3rd quarter. Rothschild Investment LLC now owns 1,330 shares of the oil and gas company's stock worth $29,000 after buying an additional 1,240 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Helmerich & Payne by 46.5% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 1,745 shares of the oil and gas company's stock worth $39,000 after buying an additional 554 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in Helmerich & Payne by 184.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,831 shares of the oil and gas company's stock worth $40,000 after buying an additional 1,187 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Helmerich & Payne by 407.1% during the 3rd quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company's stock worth $49,000 after buying an additional 1,787 shares in the last quarter. Institutional investors own 96.05% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HP. Barclays upped their price objective on Helmerich & Payne from $36.00 to $39.00 and gave the stock an "overweight" rating in a report on Tuesday, February 10th. Susquehanna upped their price objective on Helmerich & Payne from $40.00 to $42.00 and gave the stock a "positive" rating in a report on Tuesday, April 7th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Helmerich & Payne in a report on Friday, March 27th. Citigroup increased their price objective on shares of Helmerich & Payne from $33.00 to $38.00 and gave the company a "neutral" rating in a report on Wednesday, February 11th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $32.00 price objective on shares of Helmerich & Payne in a report on Wednesday, January 14th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $37.00.

Helmerich & Payne Stock Performance

Shares of NYSE:HP opened at $34.11 on Wednesday. The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of -10.69 and a beta of 0.55. The firm's 50 day simple moving average is $35.07 and its 200 day simple moving average is $30.45. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.03 and a quick ratio of 1.58. Helmerich & Payne, Inc. has a fifty-two week low of $14.65 and a fifty-two week high of $37.87.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.27). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $990.16 million. Helmerich & Payne had a negative net margin of 7.71% and a positive return on equity of 0.28%. The business's revenue was up 50.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 earnings per share. As a group, sell-side analysts forecast that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, May 18th. Helmerich & Payne's dividend payout ratio (DPR) is currently -31.35%.

Insider Buying and Selling at Helmerich & Payne

In related news, SVP Cara M. Hair sold 58,771 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $36.62, for a total value of $2,152,194.02. Following the sale, the senior vice president directly owned 175,589 shares in the company, valued at $6,430,069.18. This trade represents a 25.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.40% of the stock is owned by corporate insiders.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.

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