Cibc World Market Inc. Makes New $3.52 Million Investment in Helmerich & Payne, Inc. $HP

Cibc World Market Inc. acquired a new position in Helmerich & Payne, Inc. (NYSE:HP) during the second quarter, according to its most recent filing with the SEC. The firm acquired 107,575 shares of the oil and gas company’s stock, valued at approximately $3,522,000. Cibc World Market Inc. owned about 0.11% of Helmerich & Payne as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the business. William B. Walkup & Associates Inc. lifted its stake in Helmerich & Payne by 1.0% in the first quarter. William B. Walkup & Associates Inc. now owns 35,241 shares of the oil and gas company’s stock worth $1,270,000 after acquiring an additional 355 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Helmerich & Payne by 1.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 22,761 shares of the oil and gas company’s stock worth $653,000 after purchasing an additional 400 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of 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 purchasing an additional 445 shares during the period. Cerity Partners LLC lifted its position in shares of Helmerich & Payne by 2.6% in the 4th quarter. Cerity Partners LLC now owns 19,339 shares of the oil and gas company’s stock worth $555,000 after purchasing an additional 498 shares during the period. Finally, KLCM Advisors Inc. boosted its stake in shares of Helmerich & Payne by 5.5% during the 4th quarter. KLCM Advisors Inc. now owns 10,550 shares of the oil and gas company’s stock valued at $303,000 after purchasing an additional 550 shares in the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HP. Susquehanna raised their price objective on shares of 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 price objective on Helmerich & Payne from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Morgan Stanley upped their target price on Helmerich & Payne from $36.00 to $41.00 and gave the stock an “underweight” rating in a report on Thursday, August 20th. Barclays raised their target price on Helmerich & Payne from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Finally, Weiss Ratings upgraded Helmerich & Payne from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 12th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Helmerich & Payne has a consensus rating of “Hold” and a consensus price target of $41.00.

Insider Buying and Selling

In other Helmerich & Payne news, CAO Sara Marie Momper sold 5,054 shares of Helmerich & Payne stock in a transaction on Friday, August 14th. The stock was sold at an average price of $44.28, for a total transaction of $223,791.12. Following the completion of the transaction, the chief accounting officer owned 16,958 shares in the company, valued at approximately $750,900.24. The trade was a 22.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $493,566.23. Following the completion of the sale, the senior vice president directly owned 136,095 shares in the company, valued at $6,024,925.65. This trade represents a 7.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 110,673 shares of company stock worth $4,864,590 in the last 90 days. Insiders own 4.40% of the company’s stock.

Helmerich & Payne Trading Down 2.1%

Shares of NYSE HP opened at $41.18 on Thursday. Helmerich & Payne, Inc. has a 1 year low of $18.79 and a 1 year high of $45.00. The stock has a market cap of $4.12 billion, a P/E ratio of -29.21 and a beta of 0.61. The firm has a 50-day moving average of $36.20 and a 200 day moving average of $36.50. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.96 and a quick ratio of 1.55.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share 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 business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $987.70 million. During the same quarter last year, the company posted $0.22 EPS. Helmerich & Payne’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, sell-side analysts expect that Helmerich & Payne, Inc. will post -0.16 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. Helmerich & Payne’s dividend payout ratio is presently -70.92%.

About Helmerich & Payne

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.