Segall Bryant & Hamill LLC Cuts Stake in Helmerich & Payne, Inc. $HP

Segall Bryant & Hamill LLC lowered its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 4.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 522,693 shares of the oil and gas company’s stock after selling 27,151 shares during the quarter. Segall Bryant & Hamill LLC owned approximately 0.52% of Helmerich & Payne worth $18,833,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in HP. Balyasny Asset Management L.P. boosted its stake in Helmerich & Payne by 174.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,044,383 shares of the oil and gas company’s stock worth $30,993,000 after purchasing an additional 1,298,510 shares during the period. Encompass Capital Advisors LLC raised its position in shares of Helmerich & Payne by 165.1% during the fourth quarter. Encompass Capital Advisors LLC now owns 2,081,644 shares of the oil and gas company’s stock valued at $59,702,000 after buying an additional 1,296,537 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Helmerich & Payne by 316.9% in the third quarter. Ameriprise Financial Inc. now owns 1,218,057 shares of the oil and gas company’s stock worth $26,907,000 after buying an additional 925,921 shares in the last quarter. Canoe Financial LP purchased a new position in shares of Helmerich & Payne in the first quarter worth $33,130,000. Finally, Bank of America Corp DE boosted its position in shares of Helmerich & Payne by 109.2% during the first quarter. Bank of America Corp DE now owns 1,676,169 shares of the oil and gas company’s stock worth $60,392,000 after acquiring an additional 874,823 shares during the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HP. Morgan Stanley reaffirmed an “underweight” rating and set a $36.00 target price on shares of Helmerich & Payne in a research note on Wednesday, July 15th. Susquehanna dropped their price objective on shares of Helmerich & Payne from $43.00 to $40.00 and set a “positive” rating for the company in a report on Wednesday, July 8th. Barclays lifted their target price on Helmerich & Payne from $39.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. The Goldman Sachs Group increased their price target on Helmerich & Payne from $35.00 to $41.00 and gave the company a “neutral” rating in a research note on Wednesday, June 3rd. Finally, Royal Bank Of Canada lifted their price objective on Helmerich & Payne from $38.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $39.80.

Helmerich & Payne Stock Up 2.2%

Shares of NYSE HP opened at $34.52 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.32 and a debt-to-equity ratio of 0.71. Helmerich & Payne, Inc. has a 12-month low of $15.17 and a 12-month high of $41.82. The firm’s 50-day moving average price is $35.33 and its 200-day moving average price is $35.49. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of -9.11 and a beta of 0.60.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.32). Helmerich & Payne had a negative return on equity of 1.16% and a negative net margin of 9.38%.The company had revenue of $932.36 million during the quarter, compared to analysts’ expectations of $945.60 million. During the same quarter in the prior year, the business posted $0.01 EPS. The company’s revenue was down 8.2% on a year-over-year basis. On average, equities research analysts anticipate that Helmerich & Payne, Inc. will post -0.11 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.9%. Helmerich & Payne’s payout ratio is -26.39%.

Helmerich & Payne Company 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.