Raymond James Financial Inc. Boosts Stake in Helmerich & Payne, Inc. $HP

Key Points

• Raymond James Financial Inc. has increased its stake in Helmerich & Payne, Inc. by 58.2%, owning approximately 137,763 shares worth about $3.6 million after acquiring an additional 50,682 shares.
• The company reported a quarterly earnings per share of $0.22, beating estimates, with a revenue of $1.04 billion—up 49.2% year-over-year.
• Analysts have mixed views on the stock, with a consensus rating of "Reduce" and a price target of $22.20, reflecting caution among investors.

Raymond James Financial Inc. raised its holdings in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 58.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 137,763 shares of the oil and gas company's stock after buying an additional 50,682 shares during the quarter. Raymond James Financial Inc. owned about 0.14% of Helmerich & Payne worth $3,598,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in HP. Bank of America Corp DE grew its position in shares of Helmerich & Payne by 542.9% in the 4th quarter. Bank of America Corp DE now owns 523,047 shares of the oil and gas company's stock worth $16,748,000 after buying an additional 441,688 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Helmerich & Payne by 32.5% during the fourth quarter. Cetera Investment Advisers now owns 19,114 shares of the oil and gas company's stock valued at $612,000 after purchasing an additional 4,692 shares in the last quarter. Crestline Management LP boosted its position in shares of Helmerich & Payne by 221.3% during the fourth quarter. Crestline Management LP now owns 29,792 shares of the oil and gas company's stock valued at $954,000 after purchasing an additional 20,520 shares in the last quarter. Cresset Asset Management LLC boosted its position in shares of Helmerich & Payne by 4.2% during the fourth quarter. Cresset Asset Management LLC now owns 57,517 shares of the oil and gas company's stock valued at $1,842,000 after purchasing an additional 2,305 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Helmerich & Payne during the fourth quarter valued at approximately $211,000. 96.05% of the stock is currently owned by institutional investors.

Insider Transactions at Helmerich & Payne

In other news, CAO Sara Marie Momper sold 6,700 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $17.83, for a total value of $119,461.00. Following the completion of the transaction, the chief accounting officer owned 21,908 shares in the company, valued at $390,619.64. The trade was a 23.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 4.51% of the company's stock.

Helmerich & Payne Stock Up 0.2%

NYSE:HP traded up $0.04 during trading hours on Thursday, reaching $20.90. 1,998,834 shares of the company traded hands, compared to its average volume of 1,794,673. The business's 50-day moving average price is $17.76 and its two-hundred day moving average price is $19.36. The stock has a market capitalization of $2.08 billion, a P/E ratio of -63.33 and a beta of 0.95. Helmerich & Payne, Inc. has a 1 year low of $14.65 and a 1 year high of $37.46. The company has a current ratio of 1.84, a quick ratio of 1.43 and a debt-to-equity ratio of 0.76.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.02. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1 billion. Helmerich & Payne had a positive return on equity of 5.81% and a negative net margin of 0.90%.The firm's quarterly revenue was up 49.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 earnings per share. Analysts predict that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Tuesday, November 18th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, November 18th. This represents a $1.00 dividend on an annualized basis and a yield of 4.8%. Helmerich & Payne's payout ratio is presently -303.03%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Citigroup restated a "neutral" rating and set a $17.00 price target (down from $19.00) on shares of Helmerich & Payne in a research report on Thursday, June 26th. The Goldman Sachs Group dropped their price target on Helmerich & Payne from $25.00 to $17.00 and set a "sell" rating on the stock in a research report on Tuesday, June 24th. Piper Sandler lifted their price target on Helmerich & Payne from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Thursday, August 14th. Susquehanna dropped their price target on Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating on the stock in a research report on Tuesday, July 1st. Finally, Zacks Research upgraded Helmerich & Payne to a "hold" rating in a research report on Monday, August 11th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $22.20.

About Helmerich & Payne

Founded in 1920, Helmerich & Payne, Inc (H&P) NYSE: HP is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.