Profit Investment Management LLC Reduces Stock Holdings in Helmerich & Payne, Inc. $HP

Profit Investment Management LLC lessened its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 37.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 51,063 shares of the oil and gas company’s stock after selling 30,699 shares during the quarter. Profit Investment Management LLC’s holdings in Helmerich & Payne were worth $1,128,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in HP. EverSource Wealth Advisors LLC increased its holdings in Helmerich & Payne by 2,433.8% during 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. GAMMA Investing LLC grew its position in shares of Helmerich & Payne by 29.2% in the second quarter. GAMMA Investing LLC now owns 4,092 shares of the oil and gas company’s stock valued at $62,000 after purchasing an additional 925 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Helmerich & Payne during the 2nd quarter worth approximately $64,000. SBI Securities Co. Ltd. raised its position in shares of Helmerich & Payne by 27.4% during the 2nd quarter. SBI Securities Co. Ltd. now owns 4,940 shares of the oil and gas company’s stock worth $75,000 after purchasing an additional 1,063 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of Helmerich & Payne during the 1st quarter worth approximately $81,000. 96.05% of the stock is owned by institutional investors and hedge funds.

Helmerich & Payne Stock Up 0.9%

Helmerich & Payne stock opened at $27.94 on Monday. The company has a 50-day simple moving average of $26.88 and a 200-day simple moving average of $21.50. Helmerich & Payne, Inc. has a one year low of $14.65 and a one year high of $37.30. The firm has a market capitalization of $2.75 billion, a P/E ratio of -16.73 and a beta of 0.56. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.40 and a current ratio of 1.80.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Monday, November 17th. The oil and gas company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.27). Helmerich & Payne had a negative net margin of 4.37% and a positive return on equity of 3.21%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $972.79 million. During the same period last year, the business posted $0.76 earnings per share. Helmerich & Payne’s revenue for the quarter was up 45.8% on a year-over-year basis. As a group, equities analysts expect that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.00 dividend on an annualized basis and a yield of 3.6%. Helmerich & Payne’s dividend payout ratio (DPR) is currently -59.88%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HP. The Goldman Sachs Group upgraded Helmerich & Payne from a “sell” rating to a “neutral” rating and increased their target price for the company from $20.00 to $28.00 in a report on Thursday, November 20th. Royal Bank Of Canada upped their price objective on Helmerich & Payne from $27.00 to $29.00 and gave the company a “sector perform” rating in a research report on Thursday, November 20th. TD Cowen lifted their price target on shares of Helmerich & Payne from $27.00 to $33.00 and gave the stock a “hold” rating in a report on Wednesday, November 26th. Cowen restated a “hold” rating on shares of Helmerich & Payne in a report on Wednesday, November 26th. Finally, Barclays raised their price target on shares of Helmerich & Payne from $29.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $31.20.

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.