Deutsche Bank AG Makes New Investment in Helmerich & Payne, Inc. $HP

Key Points

• Deutsche Bank initiated a position in Helmerich & Payne during the second quarter, purchasing 182,346 shares valued at approximately $5.97 million. Institutional investors and hedge funds collectively own 96.05% of the company.
• Analyst sentiment remains mixed, with five Buy, five Hold and one Sell rating; the consensus rating is Hold with an average price target of $41.00. Recent targets range from $36 to $44.
• Helmerich & Payne missed quarterly earnings expectations, reporting a loss of $0.11 per share versus the expected $0.09 profit, although revenue of $1.03 billion exceeded forecasts. Insiders sold about $4.86 million of stock over the past 90 days, while the company maintains a quarterly dividend of $0.25 per share.

Deutsche Bank AG purchased a new position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 182,346 shares of the oil and gas company's stock, valued at approximately $5,970,000. Deutsche Bank AG owned 0.18% of Helmerich & Payne as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake 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 acquiring an additional 1,582 shares in the last quarter. Leonteq Securities AG acquired a new position in Helmerich & Payne in the 4th quarter valued at about $26,000. Parallel Advisors LLC increased its stake in Helmerich & Payne by 407.1% during the third quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company's stock worth $49,000 after purchasing an additional 1,787 shares during the period. Hantz Financial Services Inc. lifted its position in shares of Helmerich & Payne by 24.3% during the fourth quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company's stock worth $65,000 after purchasing an additional 445 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Helmerich & Payne during the first quarter worth about $101,000. 96.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HP. Susquehanna raised their price objective 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. Citigroup reduced their target price on shares of Helmerich & Payne from $38.00 to $36.00 and set a "neutral" rating on the stock in a report on Monday, June 29th. Morgan Stanley raised their price target on shares of Helmerich & Payne from $36.00 to $41.00 and gave the company an "underweight" rating in a research report on Thursday. Royal Bank Of Canada boosted their price target on shares of 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, Wall Street Zen raised Helmerich & Payne from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target 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 dated Monday, August 17th. The stock was sold at an average price of $44.27, for a total transaction of $493,566.23. Following the transaction, the senior vice president owned 136,095 shares of the company's stock, valued at approximately $6,024,925.65. This trade represents a 7.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Hans Helmerich sold 94,470 shares of the firm's stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $43.90, for a total value of $4,147,233.00. Following the transaction, the director directly owned 20,000 shares in the company, valued at approximately $878,000. The trade was a 82.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 110,673 shares of company stock worth $4,864,590 over the last 90 days. Corporate insiders own 4.40% of the company's stock.

Helmerich & Payne Stock Down 2.5%

HP stock opened at $42.45 on Tuesday. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 0.69. Helmerich & Payne, Inc. has a twelve month low of $18.48 and a twelve month high of $45.00. The company's 50 day moving average is $35.98 and its two-hundred day moving average is $36.42. The stock has a market cap of $4.24 billion, a P/E ratio of -30.11 and a beta of 0.61.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.20). The company had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $987.70 million. Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%.The firm's quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.22 EPS. Research 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 given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. Helmerich & Payne's payout ratio is -70.92%.

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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