Hara Capital LLC Trims Stake in Helmerich & Payne, Inc. $HP

Hara Capital LLC lowered its position in Helmerich & Payne, Inc. (NYSE:HP) by 32.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,031 shares of the oil and gas company’s stock after selling 16,092 shares during the quarter. Hara Capital LLC’s holdings in Helmerich & Payne were worth $947,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Private Advisory Group LLC purchased a new position in Helmerich & Payne during the fourth quarter worth about $1,407,000. Exchange Traded Concepts LLC raised its holdings in shares of Helmerich & Payne by 16.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 30,709 shares of the oil and gas company’s stock valued at $881,000 after acquiring an additional 4,320 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Helmerich & Payne by 7.8% during the 4th quarter. SG Americas Securities LLC now owns 24,835 shares of the oil and gas company’s stock valued at $712,000 after acquiring an additional 1,804 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Helmerich & Payne by 4.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,632 shares of the oil and gas company’s stock valued at $486,000 after acquiring an additional 649 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new position in shares of Helmerich & Payne during the fourth quarter worth about $209,000. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Performance

Shares of NYSE HP opened at $36.01 on Wednesday. The stock’s 50-day moving average is $34.76 and its 200 day moving average is $29.51. The stock has a market cap of $3.60 billion, a price-to-earnings ratio of -11.29 and a beta of 0.54. Helmerich & Payne, Inc. has a 1-year low of $14.65 and a 1-year high of $37.87. The company has a current ratio of 2.03, a quick ratio of 1.58 and a debt-to-equity ratio of 0.75.

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

Helmerich & Payne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.8%. Helmerich & Payne’s dividend payout ratio is -31.35%.

Insider Activity at Helmerich & Payne

In related news, SVP Cara M. Hair sold 58,771 shares of Helmerich & Payne stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $36.62, for a total value of $2,152,194.02. Following the transaction, the senior vice president owned 175,589 shares in the company, valued at $6,430,069.18. This trade represents a 25.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.40% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Evercore upgraded shares of Helmerich & Payne from an “in-line” rating to an “outperform” rating and set a $43.00 price objective on the stock in a research report on Friday, March 20th. Piper Sandler boosted their price target on shares of Helmerich & Payne from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. The Goldman Sachs Group reissued a “neutral” rating and issued a $32.00 price target on shares of Helmerich & Payne in a report on Wednesday, January 14th. Morgan Stanley restated an “underweight” rating and set a $28.00 price objective on shares of Helmerich & Payne in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada lifted their price objective on shares of Helmerich & Payne from $34.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, February 6th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Helmerich & Payne presently has a consensus rating of “Hold” and an average target price of $36.80.

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.