Tcfg Wealth Management LLC Sells 56,458 Shares of Helmerich & Payne, Inc. $HP

Key Points

• Tcfg Wealth Management LLC reduced its Helmerich & Payne stake by 77.9% in the first quarter, selling 56,458 shares and leaving it with 16,050 shares valued at about $578,000.
• Helmerich & Payne reported weaker-than-expected quarterly results, posting an EPS loss of $0.38 versus the expected loss of $0.06, while revenue of $932.36 million also came in below estimates and fell 8.2% year over year.
• The company declared a quarterly dividend of $0.25 per share, implying an annualized payout of $1.00 and a 3.0% yield; meanwhile, analysts currently have an average Hold rating with a consensus price target of $40.40.

Tcfg Wealth Management LLC cut its stake in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 77.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,050 shares of the oil and gas company's stock after selling 56,458 shares during the period. Tcfg Wealth Management LLC's holdings in Helmerich & Payne were worth $578,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Leonteq Securities AG acquired a new stake in shares of Helmerich & Payne during the 4th quarter worth $26,000. EverSource Wealth Advisors LLC raised its stake in Helmerich & Payne by 2,433.8% in 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 in the last quarter. Parallel Advisors LLC lifted its position in 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 worth $49,000 after purchasing an additional 1,787 shares during the period. Hantz Financial Services Inc. lifted its position in Helmerich & Payne by 24.3% during the fourth quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company's stock worth $65,000 after purchasing an additional 445 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in Helmerich & Payne by 50.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,735 shares of the oil and gas company's stock worth $108,000 after buying an additional 1,248 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors.

Helmerich & Payne Stock Down 1.6%

Shares of NYSE:HP opened at $32.82 on Wednesday. Helmerich & Payne, Inc. has a 52-week low of $15.08 and a 52-week high of $41.82. The company has a market capitalization of $3.28 billion, a PE ratio of -8.66 and a beta of 0.59. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.32 and a current ratio of 1.71. The company has a fifty day moving average of $37.90 and a 200-day moving average of $34.85.

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

Helmerich & Payne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, August 18th. Helmerich & Payne's dividend payout ratio (DPR) is -26.39%.

Analysts Set New Price Targets

Several equities analysts have commented on HP shares. Royal Bank Of Canada raised their target price on shares of Helmerich & Payne from $38.00 to $40.00 and gave the company a "sector perform" rating in a report on Friday, May 8th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Helmerich & Payne in a research report on Wednesday, June 24th. Citigroup decreased their price objective on shares of Helmerich & Payne from $38.00 to $36.00 and set a "neutral" rating on the stock in a research note on Monday. Morgan Stanley boosted their price objective on shares of Helmerich & Payne from $35.00 to $39.00 and gave the company an "underweight" rating in a research report on Thursday, May 14th. Finally, Evercore raised Helmerich & Payne from an "in-line" rating to an "outperform" rating and set a $43.00 price target for the company in a report on Friday, March 20th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $40.40.

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.