Wealth Enhancement Advisory Services LLC Buys New Holdings in Helmerich & Payne, Inc. $HP

Wealth Enhancement Advisory Services LLC purchased a new position in Helmerich & Payne, Inc. (NYSE:HP) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,983 shares of the oil and gas company’s stock, valued at approximately $356,000.

A number of other institutional investors have also recently made changes to their positions in HP. EverSource Wealth Advisors LLC increased its stake 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 worth $25,000 after buying an additional 1,582 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in Helmerich & Payne by 46.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 1,745 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 554 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Helmerich & Payne in the second quarter valued at about $64,000. SBI Securities Co. Ltd. raised its stake in shares of Helmerich & Payne by 27.4% during the second quarter. SBI Securities Co. Ltd. now owns 4,940 shares of the oil and gas company’s stock valued at $75,000 after acquiring an additional 1,063 shares during the last quarter. Finally, EMC Capital Management purchased a new stake in shares of Helmerich & Payne during the second quarter worth about $110,000. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Insider Activity at Helmerich & Payne

In related news, Director Hans Helmerich sold 75,000 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $28.12, for a total value of $2,109,000.00. Following the sale, the director owned 496,735 shares in the company, valued at $13,968,188.20. This represents a 13.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

Helmerich & Payne Price Performance

HP opened at $36.00 on Monday. The company has a current ratio of 2.03, a quick ratio of 1.58 and a debt-to-equity ratio of 0.75. The company has a market cap of $3.59 billion, a price-to-earnings ratio of -11.29 and a beta of 0.57. The stock has a fifty day simple moving average of $30.82 and a two-hundred day simple moving average of $25.17. Helmerich & Payne, Inc. has a 12-month low of $14.65 and a 12-month 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) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.27). Helmerich & Payne had a positive return on equity of 0.28% and a negative net margin of 7.71%.The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $990.16 million. During the same period in the prior year, the company earned $0.71 earnings per share. The firm’s quarterly revenue was up 50.2% compared to the same quarter last year. Research analysts predict that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Friday, February 13th. Helmerich & Payne’s dividend payout ratio (DPR) is presently -31.35%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HP. TD Cowen restated a “hold” rating on shares of Helmerich & Payne in a report on Wednesday, January 7th. Wall Street Zen cut Helmerich & Payne from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Monday, December 29th. Evercore boosted their price objective on shares of Helmerich & Payne from $20.00 to $27.00 and gave the company an “in-line” rating in a research report on Wednesday, November 19th. Finally, Piper Sandler raised shares of Helmerich & Payne from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $21.00 to $35.00 in a research report on Thursday, December 18th. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $33.91.

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.