Tandem Financial LLC Makes New $370,000 Investment in Helmerich & Payne, Inc. $HP

Tandem Financial LLC acquired a new position in shares of Helmerich & Payne, Inc. (NYSE:HP) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 12,897 shares of the oil and gas company’s stock, valued at approximately $370,000.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Helmerich & Payne during the 4th quarter worth $4,166,000. Fisher Asset Management LLC increased its holdings in Helmerich & Payne by 1.5% during the 4th quarter. Fisher Asset Management LLC now owns 1,731,208 shares of the oil and gas company’s stock worth $49,651,000 after purchasing an additional 25,085 shares during the period. Hantz Financial Services Inc. increased its holdings in Helmerich & Payne by 24.3% during the 4th quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock worth $65,000 after purchasing an additional 445 shares during the period. Alan B Lancz & Associates Inc. purchased a new position in Helmerich & Payne during the 4th quarter worth $201,000. Finally, Leonteq Securities AG purchased a new position in Helmerich & Payne during the 4th quarter worth $26,000. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Helmerich & Payne Stock Up 2.6%

Shares of NYSE HP opened at $39.14 on Tuesday. The company has a current ratio of 1.71, a quick ratio of 1.32 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $3.91 billion, a PE ratio of -10.33 and a beta of 0.59. Helmerich & Payne, Inc. has a 12-month low of $15.08 and a 12-month high of $41.82. The stock’s fifty day simple moving average is $37.48 and its two-hundred day simple moving average is $33.61.

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

Helmerich & Payne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.6%. Helmerich & Payne’s dividend payout ratio (DPR) is presently -26.39%.

Analysts Set New Price Targets

Several research analysts have commented on HP shares. Royal Bank Of Canada raised their price objective on Helmerich & Payne from $38.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th. Weiss Ratings restated a “sell (d+)” rating on shares of Helmerich & Payne in a report on Friday, March 27th. Piper Sandler raised their price objective on Helmerich & Payne from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Evercore upgraded Helmerich & Payne from an “in-line” rating to an “outperform” rating and set a $43.00 price objective on the stock in a report on Friday, March 20th. Finally, Morgan Stanley increased their target price on Helmerich & Payne from $35.00 to $39.00 and gave the company an “underweight” rating in a research report on Thursday, May 14th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $39.70.

Insider Buying and Selling at Helmerich & Payne

In other 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 completion of the sale, the senior vice president owned 175,589 shares of the company’s stock, valued at $6,430,069.18. This trade represents a 25.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.40% of the stock is owned by insiders.

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.