Helmerich & Payne, Inc. $HP Shares Sold by NFJ Investment Group LLC

Key Points

• NFJ Investment Group LLC cut its stake in Helmerich & Payne by 12.7% in the fourth quarter, selling 48,513 shares and leaving it with 333,842 shares worth about $9.6 million.
• Helmerich & Payne reported a weaker-than-expected fiscal quarter, posting a loss of $0.38 per share versus estimates for a $0.06 loss, while revenue also came in below expectations and fell 8.2% year over year.
• The company announced a quarterly dividend of $0.25 per share payable on September 1, and analysts currently have a consensus Hold rating with an average price target of $40.60.

NFJ Investment Group LLC trimmed its position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 12.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 333,842 shares of the oil and gas company's stock after selling 48,513 shares during the period. NFJ Investment Group LLC owned approximately 0.33% of Helmerich & Payne worth $9,575,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in HP. EverSource Wealth Advisors LLC grew its holdings in Helmerich & Payne by 2,433.8% during the 2nd 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 in the last quarter. Leonteq Securities AG bought a new position in Helmerich & Payne during the 4th quarter valued at $26,000. Rothschild Investment LLC boosted its stake in Helmerich & Payne by 1,377.8% during the 3rd quarter. Rothschild Investment LLC now owns 1,330 shares of the oil and gas company's stock valued at $29,000 after acquiring an additional 1,240 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in Helmerich & Payne by 184.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,831 shares of the oil and gas company's stock valued at $40,000 after acquiring an additional 1,187 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in Helmerich & Payne by 407.1% during the 3rd quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company's stock valued at $49,000 after acquiring an additional 1,787 shares during the last quarter. 96.05% of the stock is owned by institutional investors and hedge funds.

Helmerich & Payne Trading Up 0.1%

Helmerich & Payne stock opened at $39.24 on Friday. The firm's 50-day moving average is $37.94 and its 200-day moving average is $34.32. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.32 and a current ratio of 1.71. Helmerich & Payne, Inc. has a 1 year low of $15.08 and a 1 year high of $41.82. The company has a market cap of $3.92 billion, a P/E ratio of -10.35 and a beta of 0.59.

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

Helmerich & Payne Announces Dividend

The firm 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Tuesday, August 18th. Helmerich & Payne's dividend payout ratio (DPR) is presently -26.39%.

Insider Activity

In other news, SVP Cara M. Hair sold 58,771 shares of the firm's stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $36.62, for a total value of $2,152,194.02. Following the transaction, the senior vice president directly owned 175,589 shares in the company, valued at approximately $6,430,069.18. This trade represents a 25.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.40% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on HP shares. Barclays increased their price objective on shares of Helmerich & Payne from $39.00 to $47.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Helmerich & Payne in a research note on Friday, March 27th. Susquehanna increased their price objective on shares of Helmerich & Payne from $42.00 to $43.00 and gave the company a "positive" rating in a research note on Friday, May 8th. The Goldman Sachs Group increased their price objective on shares of Helmerich & Payne from $35.00 to $41.00 and gave the company a "neutral" rating in a research note on Wednesday, June 3rd. Finally, Evercore upgraded shares of Helmerich & Payne from an "in-line" rating to an "outperform" rating and set a $43.00 price target on the stock in a research report on Friday, March 20th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $40.60.

Helmerich & Payne 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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