Hsbc Holdings PLC Purchases 161,920 Shares of Helmerich & Payne, Inc. $HP

Hsbc Holdings PLC grew its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 289.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,907 shares of the oil and gas company’s stock after purchasing an additional 161,920 shares during the period. Hsbc Holdings PLC’s holdings in Helmerich & Payne were worth $7,206,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in HP. EverSource Wealth Advisors LLC raised its position in shares of Helmerich & Payne by 2,433.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock worth $25,000 after buying an additional 1,582 shares in the last quarter. Leonteq Securities AG purchased a new position in Helmerich & Payne during the fourth quarter worth about $26,000. Parallel Advisors LLC increased its stake in Helmerich & Payne by 407.1% in the 3rd quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 1,787 shares during the last quarter. Hantz Financial Services Inc. increased its stake in Helmerich & Payne by 24.3% in the 4th quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock worth $65,000 after acquiring an additional 445 shares during the last quarter. Finally, Strs Ohio purchased a new stake in shares of Helmerich & Payne in the 1st quarter valued at about $101,000. Institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Performance

Shares of NYSE HP opened at $44.21 on Thursday. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of -31.35 and a beta of 0.66. 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 1-year low of $19.91 and a 1-year high of $48.17. The stock’s 50-day moving average is $38.32 and its 200 day moving average is $37.21.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the prior year, the company earned $0.22 EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, sell-side analysts anticipate that Helmerich & Payne, Inc. will post -0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Hans Helmerich sold 94,470 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $43.90, for a total value of $4,147,233.00. Following the completion of the sale, the director directly owned 20,000 shares in the company, valued at approximately $878,000. The trade was a 82.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sara Momper sold 5,054 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $44.28, for a total transaction of $223,791.12. Following the completion of the sale, the chief accounting officer directly owned 16,958 shares of the company’s stock, valued at $750,900.24. This trade represents a 22.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 110,673 shares of company stock valued at $4,864,590. 4.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

HP has been the subject of a number of research analyst reports. Barclays lifted their price target on Helmerich & Payne from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Citigroup raised their target price on shares of Helmerich & Payne from $36.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, September 4th. Susquehanna lifted their target price on shares of 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 shares of Helmerich & Payne from $36.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, August 20th. Finally, Piper Sandler increased their price target on shares of Helmerich & Payne from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Helmerich & Payne has an average rating of “Hold” and an average target price of $42.20.

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.