Hara Capital LLC Purchases Shares of 26,837 Helmerich & Payne, Inc. $HP

Key Points

• Hara Capital acquired 26,837 Helmerich & Payne shares during the second quarter, valued at approximately $879,000. Institutional investors collectively own 96.05% of HP’s outstanding stock.
• HP recently reported a quarterly loss of $0.11 per share, missing analysts’ $0.09 estimate, while revenue of $1.03 billion exceeded expectations. Analysts’ consensus rating remains “Hold,” with an average price target of $41.
• Helmerich & Payne declared a quarterly dividend of $0.25 per share, equivalent to an annualized $1.00 payout and a 2.3% yield. Two company executives also recently sold shares at roughly $44.27–$44.28 per share.

Hara Capital LLC acquired a new stake in Helmerich & Payne, Inc. (NYSE:HP - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,837 shares of the oil and gas company's stock, valued at approximately $879,000.

Several other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Helmerich & Payne in the second quarter valued at approximately $513,336,000. Dimensional Fund Advisors LP lifted its stake 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 valued at $206,660,000 after acquiring an additional 570,500 shares during the period. State Street Corp lifted its stake 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 valued at $121,102,000 after acquiring an additional 33,193 shares during the period. Invesco Ltd. boosted its holdings in shares of 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 valued at $99,477,000 after acquiring an additional 465,440 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of 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 valued at $47,102,000 after acquiring an additional 87,882 shares during the last quarter. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Helmerich & Payne

In related news, CAO Sara Marie Momper sold 5,054 shares of the company's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $44.28, for a total value of $223,791.12. Following the completion of the transaction, the chief accounting officer owned 16,958 shares of the company's stock, valued at approximately $750,900.24. This represents a 22.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Cara M. Hair sold 11,149 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $44.27, for a total value of $493,566.23. Following the transaction, the senior vice president owned 136,095 shares in the company, valued at $6,024,925.65. This represents a 7.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on HP shares. Royal Bank Of Canada raised their target price on shares of Helmerich & Payne from $38.00 to $40.00 and gave the stock a "sector perform" rating in a report on Friday, May 8th. Weiss Ratings raised shares of Helmerich & Payne from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, August 12th. Wall Street Zen raised Helmerich & Payne from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Susquehanna lifted their price objective on Helmerich & Payne from $40.00 to $44.00 and gave the company a "positive" rating in a research note on Friday, August 7th. Finally, Piper Sandler boosted their price objective on Helmerich & Payne from $41.00 to $43.00 and gave the company an "overweight" rating in a report on Monday, May 18th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $41.00.

Helmerich & Payne Price Performance

NYSE:HP opened at $43.92 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.96 and a quick ratio of 1.55. The company has a 50 day moving average price of $35.78 and a 200-day moving average price of $36.30. Helmerich & Payne, Inc. has a 1-year low of $17.35 and a 1-year high of $45.00. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of -31.15 and a beta of 0.61.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its quarterly 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 firm 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 business's quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the company posted $0.22 earnings per share. Equities research analysts forecast that Helmerich & Payne, Inc. will post -0.12 EPS for the current year.

Helmerich & Payne Dividend Announcement

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 paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, August 18th. Helmerich & Payne's dividend payout ratio is presently -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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