PEAK6 LLC Purchases Shares of 20,504 Helmerich & Payne, Inc. $HP

PEAK6 LLC bought a new stake in shares of Helmerich & Payne, Inc. (NYSE:HP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 20,504 shares of the oil and gas company’s stock, valued at approximately $671,000.

Other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake in 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 purchasing an additional 1,582 shares during the period. Leonteq Securities AG bought a new stake in Helmerich & Payne during the fourth quarter worth approximately $26,000. Parallel Advisors LLC increased its position in shares of 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 during the last quarter. Hantz Financial Services Inc. increased its position in Helmerich & Payne by 24.3% during the fourth quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock valued at $65,000 after acquiring an additional 445 shares during the last quarter. Finally, Strs Ohio bought a new position in Helmerich & Payne during the 1st quarter valued at about $101,000. Institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Price Performance

NYSE:HP opened at $43.63 on Monday. The company has a 50 day moving average price of $35.87 and a 200-day moving average price of $36.37. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of -30.94 and a beta of 0.61. Helmerich & Payne, Inc. has a 1-year low of $17.98 and a 1-year high of $45.00. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.96 and a quick ratio of 1.55.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.20). The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $987.70 million. Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%.The company’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.22 earnings per share. Equities research analysts forecast that Helmerich & Payne, Inc. will post -0.15 EPS for the current year.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given 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 dividend payout ratio is currently -70.92%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wall Street Zen upgraded Helmerich & Payne from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Morgan Stanley boosted their target price on shares of Helmerich & Payne from $36.00 to $41.00 and gave the stock an “underweight” rating in a report on Thursday. Piper Sandler increased their price objective on Helmerich & Payne from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Barclays increased their price objective 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. Finally, Susquehanna raised their target price on Helmerich & Payne from $40.00 to $44.00 and gave the stock a “positive” rating in a research note on Friday, August 7th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Helmerich & Payne currently has an average rating of “Hold” and a consensus target price of $41.00.

Insider Activity

In related news, SVP Cara M. Hair sold 11,149 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $44.27, for a total value of $493,566.23. Following the transaction, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Sara Marie Momper sold 5,054 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $44.28, for a total value of $223,791.12. Following the completion of the transaction, the chief accounting officer owned 16,958 shares in the company, valued at approximately $750,900.24. This trade represents a 22.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.40% of the stock is owned by corporate insiders.

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.