Vise Technologies Inc. Acquires New Stake in Helmerich & Payne, Inc. $HP

Vise Technologies Inc. bought a new stake in Helmerich & Payne, Inc. (NYSE:HP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,851 shares of the oil and gas company’s stock, valued at approximately $683,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Aventail Capital Group LP bought a new position in shares of Helmerich & Payne in the 4th quarter worth approximately $5,464,000. UBS Group AG grew its position in Helmerich & Payne by 17.5% during the fourth quarter. UBS Group AG now owns 1,215,192 shares of the oil and gas company’s stock valued at $34,852,000 after buying an additional 180,638 shares during the period. Corigliano Investment Advisers LLC bought a new stake in Helmerich & Payne during the fourth quarter valued at approximately $8,573,000. Dynamic Technology Lab Private Ltd purchased a new stake in Helmerich & Payne during the fourth quarter valued at approximately $1,522,000. Finally, Canoe Financial LP bought a new position in Helmerich & Payne in the first quarter worth approximately $33,130,000. 96.05% of the stock is owned by hedge funds and other institutional investors.

Helmerich & Payne Trading Up 0.2%

Shares of Helmerich & Payne stock opened at $43.63 on Monday. Helmerich & Payne, Inc. has a fifty-two week low of $17.98 and a fifty-two week high of $45.00. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.55 and a current ratio of 1.96. The company has a market capitalization of $4.36 billion, a P/E ratio of -30.94 and a beta of 0.61. The company has a fifty day moving average of $35.87 and a 200 day moving average of $36.37.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $987.70 million. During the same period in the prior year, the business earned $0.22 earnings per share. Helmerich & Payne’s revenue was down .6% compared to the same quarter last year. On average, sell-side analysts anticipate that Helmerich & Payne, Inc. will post -0.15 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 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 annualized dividend and a dividend yield of 2.3%. Helmerich & Payne’s dividend payout ratio (DPR) is currently -70.92%.

Insider Activity at Helmerich & Payne

In related news, SVP Cara M. Hair sold 11,149 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $44.27, for a total value of $493,566.23. Following the transaction, the senior vice president directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sara Marie Momper sold 5,054 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer directly owned 16,958 shares in the company, valued at approximately $750,900.24. This represents a 22.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of Helmerich & Payne from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 12th. Susquehanna raised their target price on Helmerich & Payne from $40.00 to $44.00 and gave the stock a “positive” rating in a report on Friday, August 7th. Piper Sandler lifted their target price on Helmerich & Payne from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Wall Street Zen raised Helmerich & Payne from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, Morgan Stanley upped 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. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Helmerich & Payne presently has a consensus 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.