Energy Income Partners LLC bought a new stake in Helmerich & Payne, Inc. (NYSE:HP - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 130,346 shares of the oil and gas company's stock, valued at approximately $4,268,000. Energy Income Partners LLC owned approximately 0.13% of Helmerich & Payne at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the company. Aventail Capital Group LP bought a new position in shares of Helmerich & Payne in the 4th quarter valued at $5,464,000. UBS Group AG raised its holdings in shares of Helmerich & Payne by 17.5% during the 4th quarter. UBS Group AG now owns 1,215,192 shares of the oil and gas company's stock worth $34,852,000 after buying an additional 180,638 shares in the last quarter. Corigliano Investment Advisers LLC bought a new stake in shares of Helmerich & Payne during the 4th quarter worth $8,573,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Helmerich & Payne during the 4th quarter worth $1,522,000. Finally, Canoe Financial LP acquired a new stake in Helmerich & Payne in the first quarter valued at about $33,130,000. 96.05% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the stock. 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. Barclays increased their price objective on shares of Helmerich & Payne from $47.00 to $50.00 and gave the company an "overweight" rating in a research note on Monday, August 10th. Susquehanna raised their target price on shares of Helmerich & Payne from $40.00 to $44.00 and gave the company a "positive" rating in a research report on Friday, August 7th. Royal Bank Of Canada boosted their target price 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, Morgan Stanley reiterated an "underweight" rating and set a $36.00 price target on shares of Helmerich & Payne in a report on Wednesday, July 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 company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $40.50.
Read Our Latest Stock Report on HP
Insider Buying and Selling
In other news, CAO Sara Marie Momper sold 5,054 shares of the business's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $44.28, for a total value of $223,791.12. Following the transaction, the chief accounting officer owned 16,958 shares in the company, valued at approximately $750,900.24. The trade was a 22.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Cara M. Hair sold 11,149 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $44.27, for a total transaction of $493,566.23. Following the sale, 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 SEC filing for this sale provides additional information. 4.40% of the stock is owned by insiders.
Helmerich & Payne Stock Performance
Shares of Helmerich & Payne stock opened at $44.21 on Wednesday. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of -31.36 and a beta of 0.61. Helmerich & Payne, Inc. has a twelve month low of $17.35 and a twelve month high of $45.00. The company's fifty day moving average is $35.60 and its 200 day moving average is $36.16. 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 (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 the consensus estimate of $0.09 by ($0.20). The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the business earned $0.22 earnings per share. Sell-side analysts forecast that Helmerich & Payne, Inc. will post -0.12 EPS for the current year.
Helmerich & Payne Dividend Announcement
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 given a dividend of $0.25 per share. 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 dividend payout ratio (DPR) is -70.92%.
About Helmerich & Payne
(
Free Report)
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.
Featured Stories
Want to see what other hedge funds are holding HP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Helmerich & Payne, Inc. (NYSE:HP - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Helmerich & Payne, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Helmerich & Payne wasn't on the list.
While Helmerich & Payne currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries.
"Physical AI" is coming to the United States, and there are four ways that investors can gain exposure to this new robotics revolution. Plus, learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
Get This Free Report
