Energy Income Partners LLC Purchases Shares of 130,346 Helmerich & Payne, Inc. $HP

Energy Income Partners LLC acquired a new stake in shares of Helmerich & Payne, Inc. (NYSE:HP) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 130,346 shares of the oil and gas company’s stock, valued at approximately $4,268,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its position in 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 buying an additional 1,582 shares in the last quarter. Leonteq Securities AG acquired a new position in Helmerich & Payne during the 4th quarter worth approximately $26,000. Parallel Advisors LLC boosted its holdings in 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 worth $49,000 after acquiring an additional 1,787 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in 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 acquiring an additional 445 shares in the last quarter. Finally, Strs Ohio acquired a new stake in Helmerich & Payne in the first quarter valued at approximately $101,000. Institutional investors own 96.05% of the company’s stock.

Insiders Place Their Bets

In other Helmerich & Payne news, CAO Sara Marie Momper sold 5,054 shares of Helmerich & Payne stock in a transaction on Friday, August 14th. The shares were sold at an average price of $44.28, for a total transaction of $223,791.12. Following the transaction, the chief accounting officer directly owned 16,958 shares of the company’s stock, valued at $750,900.24. The trade was a 22.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Cara M. 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 of the company’s stock, valued at approximately $6,024,925.65. The trade was a 7.57% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 4.40% of the company’s stock.

Helmerich & Payne Stock Performance

Shares of HP opened at $44.21 on Wednesday. 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 stock has a 50 day moving average price of $35.60 and a two-hundred day moving average price of $36.16. The firm has a market capitalization of $4.42 billion, a P/E ratio of -31.36 and a beta of 0.61. Helmerich & Payne, Inc. has a 52 week low of $17.35 and a 52 week high of $45.00.

Helmerich & Payne (NYSE:HP) last issued 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 analysts’ expectations of $987.70 million. During the same period last year, the company earned $0.22 earnings per share. The business’s revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts forecast that Helmerich & Payne, Inc. will post -0.12 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors 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 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%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Citigroup decreased their price objective on Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, June 29th. Morgan Stanley reissued an “underweight” rating and issued a $36.00 price target on shares of Helmerich & Payne in a research report on Wednesday, July 15th. The Goldman Sachs Group boosted their price target 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. Wall Street Zen upgraded shares of Helmerich & Payne from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Susquehanna upped their price objective on shares of Helmerich & Payne from $40.00 to $44.00 and gave the stock a “positive” rating in a report on Friday, August 7th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $40.50.

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.