136,393 Shares in Helmerich & Payne, Inc. $HP Acquired by Mountain Lake Investment Management LLC

Mountain Lake Investment Management LLC purchased a new stake in Helmerich & Payne, Inc. (NYSE:HP) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 136,393 shares of the oil and gas company’s stock, valued at approximately $3,013,000. Helmerich & Payne accounts for approximately 2.2% of Mountain Lake Investment Management LLC’s investment portfolio, making the stock its 14th biggest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HP. EverSource Wealth Advisors LLC lifted its holdings 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 worth $25,000 after buying an additional 1,582 shares in the last quarter. Rothschild Investment LLC grew its stake in shares of Helmerich & Payne by 1,377.8% in the third quarter. Rothschild Investment LLC now owns 1,330 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 1,240 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Helmerich & Payne by 46.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,745 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 554 shares in the last quarter. Hantz Financial Services Inc. increased its position in Helmerich & Payne by 184.3% during the third quarter. Hantz Financial Services Inc. now owns 1,831 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 1,187 shares during the period. Finally, Parallel Advisors LLC increased its position in Helmerich & Payne by 407.1% during the third quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 1,787 shares during the period. 96.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on HP shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Monday, December 29th. Morgan Stanley restated an “underweight” rating and set a $28.00 target price on shares of Helmerich & Payne in a research report on Wednesday, January 21st. Citigroup raised their target price on shares of Helmerich & Payne from $33.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, February 11th. Barclays lifted their price target on shares of Helmerich & Payne from $36.00 to $39.00 and gave the company an “overweight” rating in a research report on Tuesday, February 10th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $32.00 price target on shares of Helmerich & Payne in a research report on Wednesday, January 14th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $36.20.

Insider Activity

In related news, Director Hans Helmerich sold 75,000 shares of the stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $28.12, for a total transaction of $2,109,000.00. Following the sale, the director owned 496,735 shares in the company, valued at approximately $13,968,188.20. This trade represents a 13.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 4.40% of the company’s stock.

Helmerich & Payne Stock Down 2.7%

HP stock opened at $34.68 on Tuesday. Helmerich & Payne, Inc. has a 52 week low of $14.65 and a 52 week high of $36.73. The business has a 50-day simple moving average of $33.70 and a 200 day simple moving average of $28.29. The company has a quick ratio of 1.58, a current ratio of 2.03 and a debt-to-equity ratio of 0.75. The company has a market cap of $3.46 billion, a PE ratio of -10.87 and a beta of 0.54.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.27). Helmerich & Payne had a positive return on equity of 0.28% and a negative net margin of 7.71%.The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $990.16 million. During the same quarter in the previous year, the company earned $0.71 earnings per share. The company’s quarterly revenue was up 50.2% on a year-over-year basis. Sell-side analysts anticipate that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, May 18th. Helmerich & Payne’s dividend payout ratio is -31.35%.

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.