PEAK6 LLC Raises Holdings in Helmerich & Payne, Inc. $HP

PEAK6 LLC raised its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 34.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 301,997 shares of the oil and gas company’s stock after acquiring an additional 77,182 shares during the quarter. PEAK6 LLC’s holdings in Helmerich & Payne were worth $8,661,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in HP. EverSource Wealth Advisors LLC boosted its stake in shares of 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 worth $25,000 after buying an additional 1,582 shares during the last quarter. Leonteq Securities AG purchased a new position in shares of Helmerich & Payne in the 4th quarter worth $26,000. Rothschild Investment LLC boosted its stake in shares of Helmerich & Payne by 1,377.8% in the 3rd 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. Parallel Advisors LLC boosted its stake in shares of Helmerich & Payne by 407.1% in the 3rd quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company’s stock worth $49,000 after buying an additional 1,787 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Helmerich & Payne by 21.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,487 shares of the oil and gas company’s stock worth $55,000 after buying an additional 437 shares during the last quarter. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Cara M. Hair sold 58,771 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $36.62, for a total value of $2,152,194.02. Following the transaction, the senior vice president directly owned 175,589 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Corporate insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HP. Weiss Ratings restated a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Friday, March 27th. Morgan Stanley raised their price target on Helmerich & Payne from $35.00 to $39.00 and gave the stock an “underweight” rating in a research note on Thursday, May 14th. Susquehanna raised their price target on Helmerich & Payne from $42.00 to $43.00 and gave the stock a “positive” rating in a research note on Friday, May 8th. Royal Bank Of Canada raised their price target on Helmerich & Payne from $38.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Finally, Evercore upgraded Helmerich & Payne from an “in-line” rating to an “outperform” rating and set a $43.00 price target on the stock in a research note on Friday, March 20th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $40.60.

Helmerich & Payne Price Performance

Shares of Helmerich & Payne stock opened at $37.00 on Tuesday. Helmerich & Payne, Inc. has a one year low of $15.08 and a one year high of $41.82. The stock’s fifty day moving average is $37.99 and its 200 day moving average is $34.43. The stock has a market cap of $3.70 billion, a P/E ratio of -9.76 and a beta of 0.59. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.32 and a current ratio of 1.71.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.32). Helmerich & Payne had a negative return on equity of 1.16% and a negative net margin of 9.38%.The company had revenue of $932.36 million during the quarter, compared to the consensus estimate of $945.60 million. During the same period in the prior year, the business posted $0.01 earnings per share. Helmerich & Payne’s revenue for the quarter was down 8.2% compared to the same quarter last year. Sell-side analysts anticipate that Helmerich & Payne, Inc. will post -0.02 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors 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 yield of 2.7%. The ex-dividend date of this dividend is Tuesday, August 18th. Helmerich & Payne’s dividend payout ratio (DPR) is currently -26.39%.

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.