Earnest Partners LLC Lowers Stock Holdings in Helmerich & Payne, Inc. $HP

Earnest Partners LLC lessened its stake in Helmerich & Payne, Inc. (NYSE:HP) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,144,294 shares of the oil and gas company’s stock after selling 99,256 shares during the period. Earnest Partners LLC owned 3.16% of Helmerich & Payne worth $69,457,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rothschild Investment LLC grew its stake in shares of Helmerich & Payne by 1,377.8% in the 3rd quarter. Rothschild Investment LLC now owns 1,330 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 1,240 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Helmerich & Payne by 2,433.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 1,582 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in shares of Helmerich & Payne by 46.5% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,745 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 554 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of 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 purchasing an additional 1,187 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of 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 purchasing an additional 1,787 shares during the period. 96.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Helmerich & Payne

In related news, Director Hans Helmerich sold 75,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $13,968,188.20. The trade was a 13.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.40% of the stock is owned by company insiders.

Helmerich & Payne Trading Up 5.5%

Shares of HP stock opened at $35.71 on Monday. The business’s fifty day moving average price is $33.62 and its 200 day moving average price is $28.19. The firm has a market capitalization of $3.57 billion, a PE ratio of -11.19 and a beta of 0.54. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.03 and a quick ratio of 1.58. Helmerich & Payne, Inc. has a 1-year low of $14.65 and a 1-year high of $36.73.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, February 4th. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.27). The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $990.16 million. Helmerich & Payne had a negative net margin of 7.71% and a positive return on equity of 0.28%. Helmerich & Payne’s revenue was up 50.2% compared to the same quarter last year. During the same period last year, the business posted $0.71 EPS. As a group, sell-side analysts forecast that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be paid a $0.25 dividend. The ex-dividend date is Monday, May 18th. This represents a $1.00 annualized dividend and a dividend yield of 2.8%. Helmerich & Payne’s dividend payout ratio (DPR) is -31.35%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a research report on Sunday, November 23rd. Weiss Ratings restated a “sell (d+)” rating on shares of Helmerich & Payne in a research report on Monday, December 29th. Piper Sandler raised their target price on shares of Helmerich & Payne from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Royal Bank Of Canada boosted their price target on shares of Helmerich & Payne from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Friday, February 6th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $32.00 price target on shares of Helmerich & Payne in a report on Wednesday, January 14th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Helmerich & Payne presently has an average rating of “Hold” and an average target price of $36.20.

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.