Profit Investment Management LLC Reduces Position in Helmerich & Payne, Inc. $HP

Profit Investment Management LLC lowered its position in Helmerich & Payne, Inc. (NYSE:HP) by 37.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,063 shares of the oil and gas company’s stock after selling 30,699 shares during the quarter. Profit Investment Management LLC owned approximately 0.05% of Helmerich & Payne worth $1,128,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. EverSource Wealth Advisors LLC increased its holdings in shares of 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 valued at $25,000 after acquiring an additional 1,582 shares during the period. GAMMA Investing LLC boosted its stake in Helmerich & Payne by 29.2% during the 2nd quarter. GAMMA Investing LLC now owns 4,092 shares of the oil and gas company’s stock worth $62,000 after purchasing an additional 925 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Helmerich & Payne during the 2nd quarter worth $64,000. SBI Securities Co. Ltd. increased its stake in Helmerich & Payne by 27.4% in the second quarter. SBI Securities Co. Ltd. now owns 4,940 shares of the oil and gas company’s stock valued at $75,000 after purchasing an additional 1,063 shares during the period. Finally, Quarry LP purchased a new stake in shares of Helmerich & Payne in the first quarter valued at about $81,000. 96.05% of the stock is owned by institutional investors and hedge funds.

Helmerich & Payne Stock Performance

NYSE:HP opened at $27.94 on Monday. The firm’s fifty day simple moving average is $26.88 and its 200-day simple moving average is $21.50. The company has a quick ratio of 1.40, a current ratio of 1.80 and a debt-to-equity ratio of 0.73. The stock has a market cap of $2.75 billion, a PE ratio of -16.73 and a beta of 0.56. Helmerich & Payne, Inc. has a fifty-two week low of $14.65 and a fifty-two week high of $37.30.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Monday, November 17th. The oil and gas company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.26 by ($0.27). Helmerich & Payne had a negative net margin of 4.37% and a positive return on equity of 3.21%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $972.79 million. During the same quarter last year, the business earned $0.76 EPS. The firm’s revenue for the quarter was up 45.8% on a year-over-year basis. Analysts expect that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be issued a $0.25 dividend. The ex-dividend date is Friday, February 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.6%. Helmerich & Payne’s dividend payout ratio is currently -59.88%.

Analyst Ratings Changes

HP has been the topic of a number of research reports. Royal Bank Of Canada raised their price target on Helmerich & Payne from $27.00 to $29.00 and gave the stock a “sector perform” rating in a report on Thursday, November 20th. Evercore ISI lifted their target price on Helmerich & Payne from $20.00 to $27.00 and gave the company an “in-line” rating in a research note on Wednesday, November 19th. Cowen reissued a “hold” rating on shares of Helmerich & Payne in a report on Wednesday, November 26th. JPMorgan Chase & Co. raised Helmerich & Payne from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $24.00 to $34.00 in a report on Wednesday, December 10th. Finally, Barclays boosted their price objective on shares of Helmerich & Payne from $29.00 to $36.00 and gave the company a “neutral” rating in a research note on Wednesday. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $31.20.

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.