Royal Bank of Canada Sells 22,721 Shares of Helmerich & Payne, Inc. $HP

Royal Bank of Canada decreased its position in Helmerich & Payne, Inc. (NYSE:HP) by 35.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,243 shares of the oil and gas company’s stock after selling 22,721 shares during the period. Royal Bank of Canada’s holdings in Helmerich & Payne were worth $1,486,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. William B. Walkup & Associates Inc. grew its holdings in Helmerich & Payne by 1.0% during the 1st quarter. William B. Walkup & Associates Inc. now owns 35,241 shares of the oil and gas company’s stock worth $1,270,000 after acquiring an additional 355 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of Helmerich & Payne by 1.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 22,761 shares of the oil and gas company’s stock valued at $653,000 after purchasing an additional 400 shares during the period. Hantz Financial Services Inc. lifted its stake 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 valued at $65,000 after purchasing an additional 445 shares during the period. Cerity Partners LLC boosted its position in shares of Helmerich & Payne by 2.6% during the 4th quarter. Cerity Partners LLC now owns 19,339 shares of the oil and gas company’s stock valued at $555,000 after purchasing an additional 498 shares in the last quarter. Finally, KLCM Advisors Inc. boosted its position in shares of Helmerich & Payne by 5.5% during the 4th quarter. KLCM Advisors Inc. now owns 10,550 shares of the oil and gas company’s stock valued at $303,000 after purchasing an additional 550 shares in the last quarter. Institutional investors own 96.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on HP. The Goldman Sachs Group raised their target price on 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 restated an “underweight” rating and set a $36.00 price target on shares of Helmerich & Payne in a report on Wednesday, July 15th. Weiss Ratings upgraded shares of Helmerich & Payne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Susquehanna lifted their price objective on shares of Helmerich & Payne from $40.00 to $44.00 and gave the company a “positive” rating in a research note on Friday, August 7th. Finally, Barclays boosted their target price on shares of Helmerich & Payne from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Helmerich & Payne has an average rating of “Hold” and a consensus price target of $40.50.

Insider Transactions at Helmerich & Payne

In other Helmerich & Payne news, CAO Sara Marie Momper sold 5,054 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $44.28, for a total transaction of $223,791.12. Following the completion of the sale, the chief accounting officer directly owned 16,958 shares of the company’s stock, valued at approximately $750,900.24. The trade was a 22.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Cara M. Hair sold 11,149 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $44.27, for a total value of $493,566.23. Following the completion of the sale, the senior vice president directly owned 136,095 shares of the company’s stock, valued at approximately $6,024,925.65. This trade represents a 7.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.40% of the stock is currently owned by insiders.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $43.77 on Thursday. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 0.69. The firm has a fifty day simple moving average of $35.69 and a two-hundred day simple moving average of $36.23. Helmerich & Payne, Inc. has a 12 month low of $17.35 and a 12 month high of $45.00. The firm has a market capitalization of $4.37 billion, a PE ratio of -31.04 and a beta of 0.61.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $987.70 million. Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 earnings per share. Analysts forecast that Helmerich & Payne, Inc. will post -0.12 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.3%. Helmerich & Payne’s payout ratio is -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.