Dockside LLC Buys Shares of 22,582 Helmerich & Payne, Inc. $HP

Dockside LLC bought a new position in Helmerich & Payne, Inc. (NYSE:HP) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 22,582 shares of the oil and gas company’s stock, valued at approximately $739,000.

Several other hedge funds have also recently modified their holdings of the business. Balyasny Asset Management L.P. lifted its holdings in shares of Helmerich & Payne by 174.1% during the second quarter. Balyasny Asset Management L.P. now owns 2,044,383 shares of the oil and gas company’s stock valued at $30,993,000 after purchasing an additional 1,298,510 shares in the last quarter. Encompass Capital Advisors LLC increased its holdings in Helmerich & Payne by 165.1% in the 4th quarter. Encompass Capital Advisors LLC now owns 2,081,644 shares of the oil and gas company’s stock worth $59,702,000 after buying an additional 1,296,537 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Helmerich & Payne by 316.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,218,057 shares of the oil and gas company’s stock worth $26,907,000 after buying an additional 925,921 shares in the last quarter. Canoe Financial LP purchased a new position in Helmerich & Payne in the 1st quarter worth about $33,130,000. Finally, Bank of America Corp DE raised its position in Helmerich & Payne by 109.2% in the 1st quarter. Bank of America Corp DE now owns 1,676,169 shares of the oil and gas company’s stock worth $60,392,000 after buying an additional 874,823 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Performance

NYSE:HP opened at $44.17 on Friday. The stock has a 50-day simple moving average of $35.36 and a two-hundred day simple moving average of $35.98. Helmerich & Payne, Inc. has a 52-week low of $17.30 and a 52-week high of $44.65. 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 capitalization of $4.41 billion, a PE ratio of -31.32 and a beta of 0.61.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.20). Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%.The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $987.70 million. During the same period last year, the business earned $0.22 EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year. Analysts forecast that Helmerich & Payne, Inc. will post -0.07 EPS for the current year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.3%. Helmerich & Payne’s dividend payout ratio (DPR) is presently -70.92%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Citigroup dropped their price target on shares of Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, June 29th. Royal Bank Of Canada boosted their price objective 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. 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 report on Wednesday, June 3rd. Morgan Stanley restated an “underweight” rating and issued a $36.00 target price on shares of Helmerich & Payne in a report on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of Helmerich & Payne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $40.50.

About Helmerich & Payne

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.