Y Intercept Hong Kong Ltd Acquires New Position in Helmerich & Payne, Inc. $HP

Y Intercept Hong Kong Ltd bought a new position in Helmerich & Payne, Inc. (NYSE:HP) during the first quarter, Holdings Channel.com reports. The fund bought 70,259 shares of the oil and gas company’s stock, valued at approximately $2,531,000.

Other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in shares of 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 acquiring an additional 1,582 shares in the last quarter. Leonteq Securities AG purchased a new position in Helmerich & Payne during the 4th quarter worth $26,000. Parallel Advisors LLC raised its position 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 purchasing an additional 1,787 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Helmerich & Payne by 24.3% in the 4th quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock worth $65,000 after buying an additional 445 shares during the period. Finally, Strs Ohio purchased a new stake in shares of Helmerich & Payne in the 1st quarter worth $101,000. 96.05% of the stock is owned by hedge funds and other institutional investors.

Helmerich & Payne Stock Up 4.5%

HP stock opened at $31.89 on Wednesday. The firm has a 50 day moving average of $37.39 and a 200 day moving average of $34.93. The stock has a market capitalization of $3.19 billion, a PE ratio of -8.41 and a beta of 0.60. The company has a quick ratio of 1.32, a current ratio of 1.71 and a debt-to-equity ratio of 0.71. Helmerich & Payne, Inc. has a 52 week low of $15.17 and a 52 week high of $41.82.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) earnings per share (EPS) 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 company had revenue of $932.36 million for the quarter, compared to analyst estimates of $945.60 million. During the same quarter in the previous year, the company posted $0.01 EPS. The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. Sell-side analysts forecast that Helmerich & Payne, Inc. will post -0.11 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 3.1%. Helmerich & Payne’s dividend payout ratio (DPR) is -26.39%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HP. Susquehanna raised their price target on 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 upped their price objective 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 increased their target price on shares of Helmerich & Payne from $35.00 to $39.00 and gave the stock an “underweight” rating in a report on Thursday, May 14th. Royal Bank Of Canada boosted 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, Piper Sandler upped their price target on shares of Helmerich & Payne from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Helmerich & Payne presently has an average rating of “Hold” and an average target price of $40.40.

Helmerich & Payne 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.