Readystate Asset Management LP Purchases Shares of 284,389 Helmerich & Payne, Inc. $HP

Readystate Asset Management LP purchased a new position in shares of Helmerich & Payne, Inc. (NYSE:HP) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 284,389 shares of the oil and gas company’s stock, valued at approximately $9,311,000.

Several other large investors also recently modified their holdings of HP. BlackRock Inc. bought a new stake in Helmerich & Payne in the second quarter valued at $513,336,000. Bank of America Corp DE acquired a new stake in shares of Helmerich & Payne in the 2nd quarter valued at about $43,370,000. Balyasny Asset Management L.P. increased its position in Helmerich & Payne by 174.1% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,044,383 shares of the oil and gas company’s stock valued at $30,993,000 after buying an additional 1,298,510 shares in the last quarter. Encompass Capital Advisors LLC raised its stake in Helmerich & Payne by 165.1% during the 4th quarter. Encompass Capital Advisors LLC now owns 2,081,644 shares of the oil and gas company’s stock worth $59,702,000 after buying an additional 1,296,537 shares during the period. Finally, Alyeska Investment Group L.P. grew its stake in Helmerich & Payne by 217.4% in the second quarter. Alyeska Investment Group L.P. now owns 1,526,707 shares of the oil and gas company’s stock valued at $49,984,000 after acquiring an additional 1,045,727 shares during the period. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Trading Down 0.1%

NYSE HP opened at $44.33 on Monday. 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 business has a fifty day simple moving average of $37.62 and a 200 day simple moving average of $37.01. Helmerich & Payne, Inc. has a 12 month low of $19.62 and a 12 month high of $48.17. The firm has a market capitalization of $4.43 billion, a P/E ratio of -31.44 and a beta of 0.66.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $987.70 million. During the same period in the prior year, the firm earned $0.22 earnings per share. Helmerich & Payne’s revenue was down .6% compared to the same quarter last year. On average, analysts predict that Helmerich & Payne, Inc. will post -0.18 EPS for the current fiscal year.

Analysts Set New Price Targets

HP has been the topic of a number of research reports. Weiss Ratings lowered Helmerich & Payne from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, August 27th. Piper Sandler boosted their price target on shares of Helmerich & Payne from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Susquehanna upped 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. Wall Street Zen upgraded shares of Helmerich & Payne from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, The Goldman Sachs Group boosted their target price on shares of Helmerich & Payne from $35.00 to $41.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 3rd. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $42.20.

Insider Activity at Helmerich & Payne

In related news, SVP Cara Hair sold 11,149 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $44.27, for a total transaction of $493,566.23. Following the transaction, the senior vice president directly owned 136,095 shares of the company’s stock, valued at $6,024,925.65. This trade represents a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Sara Momper sold 5,054 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $44.28, for a total transaction of $223,791.12. Following the transaction, the chief accounting officer owned 16,958 shares in the company, valued at approximately $750,900.24. This trade represents a 22.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 110,673 shares of company stock valued at $4,864,590 over the last ninety days. Corporate insiders own 4.40% of the company’s stock.

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.