Oppenheimer Asset Management Inc. Invests $1.01 Million in Helmerich & Payne, Inc. $HP

Oppenheimer Asset Management Inc. bought a new position in shares of Helmerich & Payne, Inc. (NYSE:HP) during the second quarter, Holdings Channel.com reports. The fund bought 30,895 shares of the oil and gas company’s stock, valued at approximately $1,012,000.

Other large investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in Helmerich & Payne by 2,433.8% during 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 purchasing an additional 1,582 shares during the last quarter. Leonteq Securities AG bought a new position in Helmerich & Payne during the fourth quarter worth $26,000. Parallel Advisors LLC increased its holdings in shares of 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 purchasing an additional 1,787 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in shares of 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 valued at $65,000 after purchasing an additional 445 shares during the last quarter. Finally, Strs Ohio acquired a new position in shares of Helmerich & Payne in the first quarter valued at $101,000. Institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Performance

Shares of Helmerich & Payne stock opened at $44.17 on Monday. Helmerich & Payne, Inc. has a fifty-two week low of $17.30 and a fifty-two week high of $44.65. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.96 and a quick ratio of 1.55. The firm has a market capitalization of $4.41 billion, a P/E ratio of -31.32 and a beta of 0.61. The company’s 50 day moving average price is $35.36 and its two-hundred day moving average price is $36.00.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $987.70 million. Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%.The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 EPS. On average, equities analysts forecast that Helmerich & Payne, Inc. will post -0.12 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be given 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 payout ratio is currently -70.92%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HP. The Goldman Sachs Group raised their target price on shares of Helmerich & Payne from $35.00 to $41.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 3rd. Morgan Stanley reaffirmed an “underweight” rating and set a $36.00 target price on shares of Helmerich & Payne in a report on Wednesday, July 15th. Susquehanna increased their price target on shares of Helmerich & Payne from $40.00 to $44.00 and gave the company a “positive” rating in a report on Friday, August 7th. Royal Bank Of Canada increased their price target 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. Finally, Weiss Ratings upgraded shares of Helmerich & Payne from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.