Mountain Lake Investment Management LLC Purchases New Holdings in Helmerich & Payne, Inc. $HP

Mountain Lake Investment Management LLC purchased a new stake in Helmerich & Payne, Inc. (NYSE:HP) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 136,393 shares of the oil and gas company’s stock, valued at approximately $3,013,000. Helmerich & Payne makes up approximately 2.2% of Mountain Lake Investment Management LLC’s investment portfolio, making the stock its 14th biggest holding. Mountain Lake Investment Management LLC owned approximately 0.14% of Helmerich & Payne at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its stake 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 buying an additional 1,582 shares in the last quarter. Rothschild Investment LLC increased its holdings in Helmerich & Payne by 1,377.8% during the third quarter. Rothschild Investment LLC now owns 1,330 shares of the oil and gas company’s stock worth $29,000 after buying an additional 1,240 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Helmerich & Payne by 46.5% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,745 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 554 shares in the last quarter. Hantz Financial Services Inc. raised its position in Helmerich & Payne by 184.3% during the third quarter. Hantz Financial Services Inc. now owns 1,831 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 1,187 shares in the last quarter. Finally, Parallel Advisors LLC lifted its stake 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 valued at $49,000 after acquiring an additional 1,787 shares during the last quarter. Institutional investors own 96.05% of the company’s stock.

Insiders Place Their Bets

In other Helmerich & Payne news, Director Hans Helmerich sold 75,000 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $28.12, for a total value of $2,109,000.00. Following the transaction, the director directly owned 496,735 shares of the company’s stock, valued at $13,968,188.20. This represents a 13.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

Helmerich & Payne Trading Down 2.7%

HP stock opened at $34.68 on Tuesday. Helmerich & Payne, Inc. has a one year low of $14.65 and a one year high of $36.73. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of -10.87 and a beta of 0.54. The company has a fifty day moving average price of $33.70 and a two-hundred day moving average price of $28.29. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.03 and a quick ratio of 1.58.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.27). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $990.16 million. Helmerich & Payne had a negative net margin of 7.71% and a positive return on equity of 0.28%. Helmerich & Payne’s revenue for the quarter was up 50.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 earnings per share. Equities analysts anticipate that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be paid a $0.25 dividend. The ex-dividend date is Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.9%. Helmerich & Payne’s dividend payout ratio is -31.35%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HP. JPMorgan Chase & Co. raised shares of Helmerich & Payne from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $24.00 to $34.00 in a research report on Wednesday, December 10th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $32.00 target price on shares of Helmerich & Payne in a research note on Wednesday, January 14th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Helmerich & Payne in a report on Monday, December 29th. Evercore set a $37.00 price target on Helmerich & Payne in a research report on Friday, February 6th. Finally, Wall Street Zen lowered Helmerich & Payne from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Helmerich & Payne currently has a consensus rating of “Hold” and an average price target of $36.20.

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.