Alyeska Investment Group L.P. increased its holdings in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 217.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,526,707 shares of the oil and gas company's stock after purchasing an additional 1,045,727 shares during the quarter. Alyeska Investment Group L.P. owned 1.53% of Helmerich & Payne worth $49,984,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Leonteq Securities AG acquired a new position in shares of Helmerich & Payne in the 4th quarter worth $26,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Helmerich & Payne by 2,433.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 1,582 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of 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 valued at $49,000 after purchasing an additional 1,787 shares during the last quarter. Hantz Financial Services Inc. boosted its position in shares of Helmerich & Payne by 24.3% in the 4th quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company's stock valued at $65,000 after purchasing an additional 445 shares during the period. Finally, Strs Ohio acquired a new position in shares of Helmerich & Payne in the 1st quarter valued at $101,000. 96.05% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, CAO Sara Marie Momper sold 5,054 shares of the 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Hans Helmerich sold 94,470 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $43.90, for a total value of $4,147,233.00. Following the completion of the transaction, the director directly owned 20,000 shares in the company, valued at $878,000. The trade was a 82.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 110,673 shares of company stock valued at $4,864,590 over the last quarter. Insiders own 4.40% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the stock. Citigroup reduced their price objective on shares of Helmerich & Payne from $38.00 to $36.00 and set a "neutral" rating for the company in a research note on Monday, June 29th. Piper Sandler boosted their price target on shares of Helmerich & Payne from $41.00 to $43.00 and gave the company an "overweight" rating in a report on Monday, May 18th. Weiss Ratings downgraded shares of Helmerich & Payne from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday. Wall Street Zen raised shares of Helmerich & Payne from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Finally, Royal Bank Of Canada boosted their target price on shares of Helmerich & Payne from $38.00 to $40.00 and gave the company a "sector perform" rating in a research note on Friday, May 8th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $41.00.
Check Out Our Latest Research Report on Helmerich & Payne
Helmerich & Payne Price Performance
Shares of HP opened at $42.51 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.55 and a current ratio of 1.96. The firm has a market cap of $4.25 billion, a PE ratio of -30.15 and a beta of 0.61. The firm's 50 day moving average price is $36.51 and its 200 day moving average price is $36.60. Helmerich & Payne, Inc. has a twelve month low of $19.50 and a twelve month high of $45.00.
Helmerich & Payne (NYSE:HP - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.20). Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $987.70 million. During the same quarter in the prior year, the business posted $0.22 EPS. The firm's revenue for the quarter was down .6% compared to the same quarter last year. As a group, research analysts expect that Helmerich & Payne, Inc. will post -0.18 EPS for the current fiscal year.
Helmerich & Payne Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, August 18th. Helmerich & Payne's dividend payout ratio (DPR) is -70.92%.
Helmerich & Payne Profile
(
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.
Further Reading
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).
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