Helmerich & Payne, Inc. $HP Shares Sold by First Trust Advisors LP

First Trust Advisors LP trimmed its position in Helmerich & Payne, Inc. (NYSE:HP) by 40.0% in the first quarter, HoldingsChannel.com reports. The firm owned 94,227 shares of the oil and gas company’s stock after selling 62,814 shares during the quarter. First Trust Advisors LP’s holdings in Helmerich & Payne were worth $3,395,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HP. EverSource Wealth Advisors LLC raised its stake in shares of Helmerich & Payne by 2,433.8% in the 2nd 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. Leonteq Securities AG acquired a new position in shares of Helmerich & Payne in the 4th quarter worth approximately $26,000. Parallel Advisors LLC raised its holdings in shares of Helmerich & Payne by 407.1% in the 3rd quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,787 shares in the last quarter. Hantz Financial Services Inc. raised 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 purchasing an additional 445 shares in the last quarter. Finally, Strs Ohio acquired a new stake in Helmerich & Payne during the first quarter valued at approximately $101,000. 96.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on HP shares. Piper Sandler raised their price objective on Helmerich & Payne from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Morgan Stanley reaffirmed an “underweight” rating and set a $36.00 target price on shares of Helmerich & Payne in a research report on Wednesday, July 15th. Citigroup decreased their price target on Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, June 29th. Susquehanna dropped their price target on Helmerich & Payne from $43.00 to $40.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. Finally, Royal Bank Of Canada boosted 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. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $39.80.

Helmerich & Payne Stock Up 11.4%

Helmerich & Payne stock opened at $37.07 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 1-year low of $15.51 and a 1-year high of $41.82. The firm’s fifty day simple moving average is $34.97 and its 200-day simple moving average is $35.60. The company has a market capitalization of $3.70 billion, a P/E ratio of -26.29 and a beta of 0.61.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.20). Helmerich & Payne had a negative return on equity of 2.34% and a negative net margin of 3.43%.The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $987.70 million. During the same period in the previous year, the company earned $0.22 earnings per share. The company’s quarterly revenue was down .6% 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 fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.7%. Helmerich & Payne’s dividend payout ratio is currently -70.92%.

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.