Hara Capital LLC Makes New Investment in Helmerich & Payne, Inc. $HP

Hara Capital LLC acquired a new stake in shares of Helmerich & Payne, Inc. (NYSE:HP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 26,837 shares of the oil and gas company’s stock, valued at approximately $879,000.

Other institutional investors have also modified their holdings of the company. Royal Bank of Canada raised its position in shares of Helmerich & Payne by 4.4% during the 1st quarter. Royal Bank of Canada now owns 104,180 shares of the oil and gas company’s stock worth $2,721,000 after purchasing an additional 4,394 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Helmerich & Payne by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,630 shares of the oil and gas company’s stock worth $1,531,000 after buying an additional 3,611 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Helmerich & Payne by 39,685.1% in the 1st quarter. NewEdge Advisors LLC now owns 34,613 shares of the oil and gas company’s stock worth $904,000 after buying an additional 34,526 shares during the last quarter. Empowered Funds LLC increased its stake in Helmerich & Payne by 9.9% during the 1st quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company’s stock worth $247,000 after buying an additional 852 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Helmerich & Payne by 34.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,445 shares of the oil and gas company’s stock worth $5,575,000 after buying an additional 54,758 shares in the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Stock Up 0.4%

HP stock opened at $43.92 on Friday. The company has a market cap of $4.39 billion, a price-to-earnings ratio of -31.15 and a beta of 0.61. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 0.69. Helmerich & Payne, Inc. has a 12 month low of $17.35 and a 12 month high of $45.00. The firm has a 50-day moving average of $35.78 and a two-hundred day moving average of $36.30.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.20). The company had revenue of $1.03 billion for the quarter, compared to analyst estimates 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 for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.22 earnings per share. As a group, analysts forecast that Helmerich & Payne, Inc. will post -0.12 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 Tuesday, September 1st. Investors 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 (DPR) is presently -70.92%.

Insider Buying and Selling

In other Helmerich & Payne news, SVP Cara M. Hair sold 11,149 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $44.27, for a total transaction of $493,566.23. Following the transaction, the senior vice president owned 136,095 shares of the company’s stock, valued at approximately $6,024,925.65. The trade was a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Sara Marie Momper sold 5,054 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $44.28, for a total value of $223,791.12. Following the transaction, the chief accounting officer directly owned 16,958 shares in the company, valued at $750,900.24. This trade represents a 22.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 4.40% of the company’s stock.

Wall Street Analyst Weigh In

HP has been the topic of several research reports. Susquehanna raised their target price on Helmerich & Payne from $40.00 to $44.00 and gave the company a “positive” rating in a research report on Friday, August 7th. Morgan Stanley boosted their price target on Helmerich & Payne from $36.00 to $41.00 and gave the stock an “underweight” rating in a research report on Thursday. Wall Street Zen raised Helmerich & Payne from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. The Goldman Sachs Group raised their price objective on Helmerich & Payne from $35.00 to $41.00 and gave the company a “neutral” rating in a report on Wednesday, June 3rd. Finally, Weiss Ratings raised shares of Helmerich & Payne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $41.00.

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.