JPMorgan Chase & Co. Has $2.53 Million Stock Holdings in Helmerich & Payne, Inc. $HP

JPMorgan Chase & Co. reduced its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 48.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 114,637 shares of the oil and gas company’s stock after selling 109,893 shares during the period. JPMorgan Chase & Co. owned approximately 0.12% of Helmerich & Payne worth $2,532,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Rothschild Investment LLC increased its position in shares of Helmerich & Payne by 1,377.8% during the third quarter. Rothschild Investment LLC now owns 1,330 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 1,240 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position 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 valued at $25,000 after acquiring an additional 1,582 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake 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 purchasing an additional 554 shares during the period. Hantz Financial Services Inc. boosted its stake in Helmerich & Payne by 184.3% in the 3rd 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 period. Finally, Parallel Advisors LLC increased its holdings in 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 worth $49,000 after purchasing an additional 1,787 shares in the last quarter. Institutional investors own 96.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HP. The Goldman Sachs Group restated a “neutral” rating and issued a $32.00 price target on shares of Helmerich & Payne in a report on Wednesday, January 14th. TD Cowen increased their price objective on Helmerich & Payne from $35.00 to $38.00 and gave the stock a “hold” rating in a report on Monday, February 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of Helmerich & Payne in a research report on Friday, March 27th. Susquehanna restated a “positive” rating and issued a $40.00 target price on shares of Helmerich & Payne in a research note on Friday, February 6th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $28.00 price target on shares of Helmerich & Payne in a research note on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $36.80.

Helmerich & Payne Price Performance

Shares of NYSE HP opened at $34.76 on Monday. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of -10.90 and a beta of 0.55. The business has a 50-day moving average of $34.88 and a 200-day moving average of $29.79. 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 fifty-two week low of $14.65 and a fifty-two week high of $37.87.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $990.16 million. During the same quarter in the previous year, the company posted $0.71 EPS. The business’s revenue was up 50.2% on a year-over-year basis. As a group, sell-side analysts predict that Helmerich & Payne, Inc. will post 2.93 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 Monday, June 1st. Stockholders of record on Monday, May 18th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.9%. Helmerich & Payne’s dividend payout ratio is currently -31.35%.

Insider Activity at Helmerich & Payne

In related news, SVP Cara M. Hair sold 58,771 shares of the firm’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $36.62, for a total value of $2,152,194.02. Following the completion of the transaction, the senior vice president directly owned 175,589 shares of the company’s stock, valued at approximately $6,430,069.18. This trade represents a 25.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.40% of the company’s stock.

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.