Edgestream Partners L.P. Sells 223,125 Shares of Helmerich & Payne, Inc. $HP

Key Points

• Edgestream Partners cut its Helmerich & Payne stake by 78.1%, selling 223,125 shares in the first quarter and retaining 62,624 shares valued at approximately $2.26 million. Institutional investors own 96.05% of the company.
• Analysts maintain a mixed outlook, with five Buy, five Hold and two Sell ratings. The consensus rating is Hold, with an average price target of $39.80 versus the stock’s $34.52 opening price.
• Helmerich & Payne reported a quarterly loss of $0.38 per share and an 8.2% year-over-year revenue decline, but declared a $0.25 quarterly dividend, equivalent to a 2.9% annualized yield.

Edgestream Partners L.P. cut its holdings in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 78.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 62,624 shares of the oil and gas company's stock after selling 223,125 shares during the quarter. Edgestream Partners L.P. owned approximately 0.06% of Helmerich & Payne worth $2,256,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in HP. Leonteq Securities AG bought a new stake in Helmerich & Payne during the 4th quarter worth about $26,000. EverSource Wealth Advisors LLC raised its stake 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 acquiring an additional 1,582 shares during the last quarter. Parallel Advisors LLC raised its stake 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 acquiring an additional 1,787 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of Helmerich & Payne by 24.3% in the fourth quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company's stock worth $65,000 after acquiring an additional 445 shares during the last quarter. Finally, Strs Ohio acquired a new position in shares of Helmerich & Payne during the first quarter worth approximately $101,000. 96.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Weiss Ratings reissued a "sell (d+)" rating on shares of Helmerich & Payne in a research note on Wednesday, June 24th. Barclays increased their target price on shares of Helmerich & Payne from $39.00 to $47.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. Royal Bank Of Canada lifted their price objective on Helmerich & Payne from $38.00 to $40.00 and gave the company a "sector perform" rating in a report on Friday, May 8th. Piper Sandler boosted their price objective on shares of Helmerich & Payne from $41.00 to $43.00 and gave the company an "overweight" rating in a research report on Monday, May 18th. Finally, Morgan Stanley restated an "underweight" rating and issued a $36.00 price target on shares of Helmerich & Payne in a report on Wednesday, July 15th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $39.80.

Helmerich & Payne Stock Down 0.2%

Shares of HP stock opened at $34.52 on Monday. The firm's fifty day moving average price is $35.33 and its two-hundred day moving average price is $35.53. 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, Inc. has a 1 year low of $15.17 and a 1 year high of $41.82. The firm has a market capitalization of $3.45 billion, a P/E ratio of -9.11 and a beta of 0.61.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $932.36 million during the quarter, compared to the consensus estimate of $945.60 million. Helmerich & Payne had a negative net margin of 9.38% and a negative return on equity of 1.16%. Helmerich & Payne's revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.01 EPS. On average, equities analysts predict that Helmerich & Payne, Inc. will post -0.11 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.9%. 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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