Jupiter Topco LLC Takes Position in Helmerich & Payne, Inc. $HP

Key Points

• Jupiter Topco LLC acquired 41,883 shares of Helmerich & Payne in the second quarter, valued at approximately $1.37 million. Institutional investors collectively own 96.05% of the company’s stock.
• Helmerich & Payne reported a quarterly loss of $0.11 per share, missing analyst expectations of $0.09 earnings per share, while revenue reached $1.03 billion and declined 0.6% year over year.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $42.20; insiders sold 110,673 shares worth about $4.86 million over the past 90 days.

Jupiter Topco LLC acquired a new position in Helmerich & Payne, Inc. (NYSE:HP - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 41,883 shares of the oil and gas company's stock, valued at approximately $1,372,000.

Other institutional investors have also recently modified their holdings of the company. Leonteq Securities AG bought a new position in Helmerich & Payne during the fourth quarter valued at approximately $26,000. EverSource Wealth Advisors LLC boosted its stake in shares of Helmerich & Payne by 2,433.8% in 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. Parallel Advisors LLC boosted its stake in shares of Helmerich & Payne by 407.1% in the 3rd 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 in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Helmerich & Payne by 24.3% during 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 last quarter. Finally, Strs Ohio bought a new position in shares of Helmerich & Payne during the 1st quarter valued at $101,000. 96.05% of the stock is currently owned by institutional investors.

Helmerich & Payne Stock Down 1.5%

NYSE:HP opened at $44.33 on Friday. 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 $4.43 billion, a P/E ratio of -31.44 and a beta of 0.66. Helmerich & Payne, Inc. has a fifty-two week low of $19.62 and a fifty-two week high of $48.17. The firm has a 50-day simple moving average of $37.62 and a two-hundred day simple moving average of $36.99.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.20). The company had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $987.70 million. Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The firm's revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 earnings per share. Analysts predict that Helmerich & Payne, Inc. will post -0.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Citigroup boosted their price target on shares of Helmerich & Payne from $36.00 to $48.00 and gave the stock a "neutral" rating in a research note on Friday. The Goldman Sachs Group lifted their price objective on Helmerich & Payne from $35.00 to $41.00 and gave the stock a "neutral" rating in a report on Wednesday, June 3rd. Weiss Ratings lowered Helmerich & Payne from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, August 27th. Royal Bank Of Canada increased 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, Morgan Stanley raised their price target on Helmerich & Payne from $36.00 to $41.00 and gave the stock an "underweight" rating in a research report on Thursday, August 20th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $42.20.

Insider Buying and Selling

In related news, SVP Cara Hair sold 11,149 shares of the company's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $44.27, for a total transaction of $493,566.23. Following the completion of the sale, the senior vice president owned 136,095 shares in the company, valued at approximately $6,024,925.65. This represents a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hans Helmerich sold 94,470 shares of the stock in a transaction dated 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 approximately $878,000. This represents a 82.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 110,673 shares of company stock valued at $4,864,590 over the last 90 days. Company insiders own 4.40% of the company's stock.

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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