BNP Paribas Financial Markets Sells 28,637 Shares of Helmerich & Payne, Inc. $HP

Key Points

• BNP Paribas Financial Markets trimmed its Helmerich & Payne stake by 7.6% in the fourth quarter, selling 28,637 shares and ending with 347,991 shares valued at about $9.98 million.
• Analyst sentiment is mixed but leaning cautious: Helmerich & Payne has an average “Hold” rating and a consensus price target of $40.60, even as several firms recently raised their targets.
• The company recently reported weaker-than-expected quarterly results, with EPS of ($0.38) versus estimates for a smaller loss and revenue of $932.36 million below consensus, while also announcing a $0.25 quarterly dividend payable Sept. 1.

BNP Paribas Financial Markets decreased its position in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 7.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 347,991 shares of the oil and gas company's stock after selling 28,637 shares during the period. BNP Paribas Financial Markets owned approximately 0.35% of Helmerich & Payne worth $9,980,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in Helmerich & Payne by 2,433.8% in 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 during the last quarter. Leonteq Securities AG purchased a new stake in shares of Helmerich & Payne during the 4th quarter valued at about $26,000. Rothschild Investment LLC increased its position in shares of 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 valued at $29,000 after purchasing an additional 1,240 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of 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 valued at $40,000 after purchasing an additional 1,187 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in shares of 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 valued at $49,000 after purchasing an additional 1,787 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HP. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Helmerich & Payne in a research report on Friday, March 27th. Citigroup upped their price target on shares of Helmerich & Payne from $33.00 to $38.00 and gave the company a "neutral" rating in a research report on Wednesday, February 11th. Royal Bank Of Canada upped their price target on shares of Helmerich & Payne from $38.00 to $40.00 and gave the company a "sector perform" rating in a research report on Friday, May 8th. Susquehanna upped their price target on shares of Helmerich & Payne from $42.00 to $43.00 and gave the company a "positive" rating in a research report on Friday, May 8th. Finally, The Goldman Sachs Group increased their target price on shares of Helmerich & Payne from $35.00 to $41.00 and gave the stock a "neutral" rating in a report on Wednesday, June 3rd. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Helmerich & Payne has an average rating of "Hold" and an average target price of $40.60.

Insider Activity at Helmerich & Payne

In other news, SVP Cara M. Hair sold 58,771 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $36.62, for a total transaction of $2,152,194.02. Following the completion of the transaction, the senior vice president directly owned 175,589 shares in the company, valued at approximately $6,430,069.18. This represents a 25.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.40% of the company's stock.

Helmerich & Payne Trading Up 4.3%

HP stock opened at $39.08 on Tuesday. Helmerich & Payne, Inc. has a 1-year low of $15.08 and a 1-year high of $41.82. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 1.32. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of -10.31 and a beta of 0.59. The business has a 50 day simple moving average of $37.67 and a two-hundred day simple moving average of $34.02.

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

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, August 18th. Helmerich & Payne's dividend payout ratio is currently -26.39%.

About Helmerich & Payne

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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