Cibc World Market Inc. Invests $3.52 Million in Helmerich & Payne, Inc. $HP

Cibc World Market Inc. purchased a new stake in shares of Helmerich & Payne, Inc. (NYSE:HP) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 107,575 shares of the oil and gas company’s stock, valued at approximately $3,522,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings 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 worth $25,000 after acquiring an additional 1,582 shares during the last quarter. Leonteq Securities AG purchased a new stake in Helmerich & Payne during the 4th quarter valued at $26,000. Parallel Advisors LLC boosted its stake 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 valued at $49,000 after purchasing an additional 1,787 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in Helmerich & Payne by 24.3% during the 4th quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock valued at $65,000 after purchasing an additional 445 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of Helmerich & Payne in the 1st quarter worth $101,000. Institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Price Performance

Shares of HP opened at $41.18 on Thursday. The firm has a market cap of $4.12 billion, a PE ratio of -29.21 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. The firm has a fifty day simple moving average of $36.20 and a two-hundred day simple moving average of $36.50. Helmerich & Payne, Inc. has a 1-year low of $18.79 and a 1-year high of $45.00.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%.The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $987.70 million. During the same quarter last year, the business earned $0.22 earnings per share. The business’s quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts anticipate that Helmerich & Payne, Inc. will post -0.16 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. Helmerich & Payne’s dividend payout ratio is currently -70.92%.

Insider Buying and Selling at Helmerich & Payne

In other Helmerich & Payne news, Director Hans Helmerich sold 94,470 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $43.90, for a total value of $4,147,233.00. Following the transaction, the director directly owned 20,000 shares of the company’s stock, valued at approximately $878,000. This trade represents a 82.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Sara Marie Momper sold 5,054 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $44.28, for a total value of $223,791.12. Following the sale, the chief accounting officer owned 16,958 shares of the company’s stock, valued at approximately $750,900.24. This represents a 22.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 110,673 shares of company stock valued at $4,864,590. 4.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on HP. Citigroup decreased their price target on Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, June 29th. Barclays increased their price objective on Helmerich & Payne from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Piper Sandler boosted their target price on Helmerich & Payne from $41.00 to $43.00 and gave the stock 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 research report on Saturday, August 15th. Finally, Royal Bank Of Canada upped their target price on shares of Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. 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 an average rating of “Hold” and a consensus price target of $41.00.

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.