Canoe Financial LP Buys Shares of 919,500 Helmerich & Payne, Inc. $HP

Canoe Financial LP bought a new stake in Helmerich & Payne, Inc. (NYSE:HP) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 919,500 shares of the oil and gas company’s stock, valued at approximately $33,130,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. EverSource Wealth Advisors LLC raised its position in Helmerich & Payne by 2,433.8% during 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 during the period. Leonteq Securities AG acquired a new stake in Helmerich & Payne during the 4th quarter worth about $26,000. Parallel Advisors LLC grew its stake in Helmerich & Payne by 407.1% during the 3rd 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 in the last quarter. Hantz Financial Services Inc. grew its stake 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 valued at $65,000 after acquiring an additional 445 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Helmerich & Payne by 50.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,735 shares of the oil and gas company’s stock valued at $108,000 after purchasing an additional 1,248 shares during the period. Institutional investors and hedge funds own 96.05% of the company’s stock.

Analysts Set New Price Targets

HP has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Helmerich & Payne in a research report on Wednesday. Evercore raised 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. Susquehanna upped their price objective on shares of Helmerich & Payne from $42.00 to $43.00 and gave the company a “positive” rating in a research note on Friday, May 8th. The Goldman Sachs Group increased their target price on shares of Helmerich & Payne from $35.00 to $41.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 3rd. Finally, Royal Bank Of Canada lifted their target price on shares of Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $40.60.

Helmerich & Payne Price Performance

NYSE HP opened at $33.70 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.71 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $3.37 billion, a PE ratio of -8.89 and a beta of 0.59. The company has a 50 day moving average price of $37.95 and a two-hundred day moving average price of $34.81. Helmerich & Payne, Inc. has a 12-month low of $15.08 and a 12-month high of $41.82.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results 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). Helmerich & Payne had a negative net margin of 9.38% and a negative return on equity of 1.16%. The business had revenue of $932.36 million for the quarter, compared to the consensus estimate of $945.60 million. During the same quarter in the prior year, the business posted $0.01 EPS. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, equities analysts predict that Helmerich & Payne, Inc. will post -0.02 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, August 18th. Helmerich & Payne’s dividend payout ratio (DPR) is -26.39%.

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.