Oppenheimer Asset Management Inc. Takes Position in Helmerich & Payne, Inc. $HP

Oppenheimer Asset Management Inc. acquired a new position in shares of Helmerich & Payne, Inc. (NYSE:HP) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,895 shares of the oil and gas company’s stock, valued at approximately $1,012,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of 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. Leonteq Securities AG acquired a new stake in shares of Helmerich & Payne in the fourth quarter valued at approximately $26,000. Parallel Advisors LLC raised its holdings in shares of Helmerich & Payne by 407.1% in the third 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 during the last quarter. Hantz Financial Services Inc. lifted its position in shares of Helmerich & Payne by 24.3% in 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 in the last quarter. Finally, Strs Ohio bought a new stake in shares of Helmerich & Payne in the first quarter worth $101,000. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on HP shares. Barclays raised their target price on shares of Helmerich & Payne from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Piper Sandler boosted their price target on shares of Helmerich & Payne from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Citigroup reduced their price objective on shares of Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, June 29th. Wall Street Zen upgraded Helmerich & Payne from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings raised Helmerich & Payne from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $40.50.

Helmerich & Payne Price Performance

NYSE:HP opened at $44.17 on Monday. The stock has a market capitalization of $4.41 billion, a PE ratio of -31.32 and a beta of 0.61. Helmerich & Payne, Inc. has a 1-year low of $17.30 and a 1-year high of $44.65. The firm has a fifty day simple moving average of $35.36 and a 200 day simple moving average of $36.00. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 0.69.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.20). The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $987.70 million. Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%.The business’s revenue was down .6% compared to the same quarter last year. During the same period last year, the company posted $0.22 earnings per share. On average, research analysts expect that Helmerich & Payne, Inc. will post -0.12 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders 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 dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, August 18th. Helmerich & Payne’s dividend payout ratio is presently -70.92%.

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.