Helmerich & Payne, Inc. $HP Shares Purchased by Encompass Capital Advisors LLC

Key Points

• Encompass Capital Advisors LLC boosted its stake in Helmerich & Payne by 165.1% in the fourth quarter, ending with 2.08 million shares worth about $59.7 million. The stock now makes up roughly 2.4% of the firm’s portfolio.
• Analysts are mixed on HP: recent moves included rating upgrades from Evercore and Barclays, while the overall consensus remains Hold with an average price target of $40.60.
• Helmerich & Payne reported a quarterly loss of $0.38 per share, missing expectations and on revenue that also came in below estimates. The company also declared a $0.25 quarterly dividend, equal to a 2.8% annualized yield.

Encompass Capital Advisors LLC increased its stake in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 165.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,081,644 shares of the oil and gas company's stock after purchasing an additional 1,296,537 shares during the quarter. Helmerich & Payne accounts for approximately 2.4% of Encompass Capital Advisors LLC's holdings, making the stock its 9th biggest position. Encompass Capital Advisors LLC owned approximately 2.08% of Helmerich & Payne worth $59,702,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of HP. Royal Bank of Canada lifted its holdings in shares of Helmerich & Payne by 4.4% during the first quarter. Royal Bank of Canada now owns 104,180 shares of the oil and gas company's stock worth $2,721,000 after purchasing an additional 4,394 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Helmerich & Payne by 6.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,630 shares of the oil and gas company's stock worth $1,531,000 after purchasing an additional 3,611 shares during the period. NewEdge Advisors LLC lifted its holdings in Helmerich & Payne by 39,685.1% in the first quarter. NewEdge Advisors LLC now owns 34,613 shares of the oil and gas company's stock valued at $904,000 after acquiring an additional 34,526 shares during the period. Empowered Funds LLC lifted its holdings in Helmerich & Payne by 9.9% in the first quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company's stock valued at $247,000 after acquiring an additional 852 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Helmerich & Payne by 34.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,445 shares of the oil and gas company's stock valued at $5,575,000 after acquiring an additional 54,758 shares during the period. 96.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Evercore raised Helmerich & Payne from an "in-line" rating to an "outperform" rating and set a $43.00 target price for the company in a report on Friday, March 20th. Barclays raised their target price on Helmerich & Payne from $39.00 to $47.00 and gave the company an "overweight" rating in a report on Friday, May 8th. Morgan Stanley raised their target price on Helmerich & Payne from $35.00 to $39.00 and gave the company an "underweight" rating in a report on Thursday, May 14th. Royal Bank Of Canada raised their target price on Helmerich & Payne from $38.00 to $40.00 and gave the company a "sector perform" rating in a report on Friday, May 8th. Finally, Susquehanna raised their target price on Helmerich & Payne from $42.00 to $43.00 and gave the company a "positive" rating in a report on Friday, May 8th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $40.60.

Helmerich & Payne Trading Down 1.6%

Shares of HP stock opened at $35.78 on Thursday. Helmerich & Payne, Inc. has a fifty-two week low of $15.08 and a fifty-two week high of $41.82. The stock has a market cap of $3.58 billion, a P/E ratio of -9.44 and a beta of 0.59. The business has a fifty day simple moving average of $38.04 and a 200-day simple moving average of $34.55. The company has a quick ratio of 1.32, a current ratio of 1.71 and a debt-to-equity ratio of 0.71.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.32). Helmerich & Payne had a negative net margin of 9.38% and a negative return on equity of 1.16%. The firm had revenue of $932.36 million during the quarter, compared to analysts' expectations of $945.60 million. During the same quarter in the prior year, the business earned $0.01 EPS. The company's quarterly revenue was down 8.2% compared to the same quarter last year. On average, analysts forecast that Helmerich & Payne, Inc. will post -0.02 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a $0.25 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.8%. Helmerich & Payne's dividend payout ratio (DPR) is currently -26.39%.

Helmerich & Payne Company Profile

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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