Cadence Wealth Management LLC Acquires Shares of 43,253 Helmerich & Payne, Inc. $HP

Cadence Wealth Management LLC acquired a new position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 43,253 shares of the oil and gas company's stock, valued at approximately $1,416,000. Helmerich & Payne makes up about 0.6% of Cadence Wealth Management LLC's investment portfolio, making the stock its 15th biggest position.

Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Helmerich & Payne in the second quarter valued at about $513,336,000. Dimensional Fund Advisors LP lifted its position in Helmerich & Payne by 11.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,735,765 shares of the oil and gas company's stock worth $206,660,000 after acquiring an additional 570,500 shares in the last quarter. State Street Corp lifted its position in Helmerich & Payne by 0.8% during the 4th quarter. State Street Corp now owns 4,222,536 shares of the oil and gas company's stock worth $121,102,000 after acquiring an additional 33,193 shares in the last quarter. Invesco Ltd. boosted its holdings in Helmerich & Payne by 15.5% in the 4th quarter. Invesco Ltd. now owns 3,468,526 shares of the oil and gas company's stock worth $99,477,000 after acquiring an additional 465,440 shares during the period. Finally, Balyasny Asset Management L.P. boosted its holdings in Helmerich & Payne by 4.3% in the 3rd quarter. Balyasny Asset Management L.P. now owns 2,132,265 shares of the oil and gas company's stock worth $47,102,000 after acquiring an additional 87,882 shares during the period. Hedge funds and other institutional investors own 96.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HP shares. Wall Street Zen upgraded shares of Helmerich & Payne from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Susquehanna upped their target price on shares of Helmerich & Payne from $40.00 to $44.00 and gave the company a "positive" rating in a research note on Friday, August 7th. Weiss Ratings upgraded shares of Helmerich & Payne from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, August 12th. The Goldman Sachs Group raised their price target on shares of Helmerich & Payne from $35.00 to $41.00 and gave the company a "neutral" rating in a report on Wednesday, June 3rd. Finally, Barclays lifted their price target on shares of Helmerich & Payne from $47.00 to $50.00 and gave the stock an "overweight" rating in a research note on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Helmerich & Payne has an average rating of "Hold" and a consensus target price of $41.00.

Insider Buying and Selling at Helmerich & Payne

In other Helmerich & Payne news, SVP Cara M. Hair sold 11,149 shares of the firm's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $44.27, for a total transaction of $493,566.23. Following the completion of the transaction, the senior vice president directly owned 136,095 shares of the company's stock, valued at $6,024,925.65. This trade represents a 7.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sara Marie Momper sold 5,054 shares of the business's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $44.28, for a total transaction of $223,791.12. Following the completion of the sale, the chief accounting officer directly owned 16,958 shares of the company's stock, valued at $750,900.24. The trade was a 22.96% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 4.40% of the company's stock.

Helmerich & Payne Price Performance

Shares of NYSE HP opened at $43.63 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 0.69. Helmerich & Payne, Inc. has a fifty-two week low of $17.98 and a fifty-two week high of $45.00. The business has a 50 day moving average price of $35.87 and a two-hundred day moving average price of $36.35. The firm has a market cap of $4.36 billion, a PE ratio of -30.94 and a beta of 0.61.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.20). The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $987.70 million. Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The business's revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 earnings per share. Sell-side analysts expect that Helmerich & Payne, Inc. will post -0.15 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Tuesday, August 18th. Helmerich & Payne's payout ratio is -70.92%.

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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