Aventail Capital Group LP Acquires New Shares in Helmerich & Payne, Inc. $HP

Key Points

• Aventail Capital Group LP disclosed a new fourth-quarter stake in Helmerich & Payne, buying 190,532 shares valued at about $5.46 million, or roughly 0.19% of the company.
• Several analysts remain mixed on HP, with a consensus rating of “Hold” and an average price target of $40.60, though some firms recently raised targets and upgraded ratings.
• Helmerich & Payne’s latest earnings missed expectations, and the company reported a quarterly loss as revenue fell 8.2% year over year; the stock was also trading around $35.78 and the company announced a $0.25 quarterly dividend.

Aventail Capital Group LP acquired a new stake in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 190,532 shares of the oil and gas company's stock, valued at approximately $5,464,000. Aventail Capital Group LP owned about 0.19% of Helmerich & Payne at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of HP. EverSource Wealth Advisors LLC lifted its position in shares of Helmerich & Payne by 2,433.8% in the second 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 during the last quarter. Leonteq Securities AG acquired a new stake in shares of Helmerich & Payne in the fourth quarter worth about $26,000. Rothschild Investment LLC lifted its position in shares of Helmerich & Payne by 1,377.8% in the third 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 during the last quarter. Parallel Advisors LLC lifted its position in shares of Helmerich & Payne by 407.1% in the third 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 during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Helmerich & Payne by 21.3% in the third quarter. Smartleaf Asset Management LLC now owns 2,487 shares of the oil and gas company's stock worth $55,000 after buying an additional 437 shares during the last quarter. Institutional investors and hedge funds own 96.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HP. Evercore raised Helmerich & Payne from an "in-line" rating to an "outperform" rating and set a $43.00 price target for the company in a research report on Friday, March 20th. Susquehanna lifted their price objective on Helmerich & Payne from $42.00 to $43.00 and gave the stock a "positive" rating in a research note on Friday, May 8th. The Goldman Sachs Group lifted their price objective on Helmerich & Payne from $35.00 to $41.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 3rd. Royal Bank Of Canada lifted their price objective on Helmerich & Payne from $38.00 to $40.00 and gave the stock a "sector perform" rating in a research note on Friday, May 8th. Finally, Barclays lifted their price objective on Helmerich & Payne from $39.00 to $47.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $40.60.

Helmerich & Payne Trading Down 1.6%

HP stock opened at $35.78 on Thursday. Helmerich & Payne, Inc. has a 1-year low of $15.08 and a 1-year high of $41.82. The firm has a market cap of $3.58 billion, a P/E ratio of -9.44 and a beta of 0.59. The business's 50 day moving average is $38.04 and its 200-day moving average is $34.55. The company has a current ratio of 1.71, a quick ratio of 1.32 and a debt-to-equity ratio of 0.71.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.32). The business had revenue of $932.36 million during the quarter, compared to analyst estimates of $945.60 million. Helmerich & Payne had a negative return on equity of 1.16% and a negative net margin of 9.38%.The firm's revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.01 earnings per share. Equities analysts anticipate that Helmerich & Payne, Inc. will post -0.02 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, August 18th. Helmerich & Payne's payout ratio is presently -26.39%.

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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