BNP Paribas Financial Markets Sells 28,637 Shares of Helmerich & Payne, Inc. $HP

BNP Paribas Financial Markets lowered its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 7.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 347,991 shares of the oil and gas company’s stock after selling 28,637 shares during the quarter. BNP Paribas Financial Markets’ holdings in Helmerich & Payne were worth $9,980,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Leonteq Securities AG purchased a new stake in Helmerich & Payne in the fourth quarter worth $26,000. Rothschild Investment LLC increased its stake in Helmerich & Payne by 1,377.8% in the third quarter. Rothschild Investment LLC now owns 1,330 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 1,240 shares during the period. EverSource Wealth Advisors LLC increased its stake in 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 purchasing an additional 1,582 shares during the period. Hantz Financial Services Inc. increased its stake in Helmerich & Payne by 184.3% in the third quarter. Hantz Financial Services Inc. now owns 1,831 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 1,187 shares during the period. Finally, Parallel Advisors LLC increased its stake in Helmerich & Payne by 407.1% in the third quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,787 shares during the period. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Price Performance

HP opened at $39.08 on Tuesday. The business’s 50-day moving average is $37.67 and its two-hundred day moving average is $34.02. Helmerich & Payne, Inc. has a 1 year low of $15.08 and a 1 year high of $41.82. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 1.32. The firm has a market capitalization of $3.91 billion, a PE ratio of -10.31 and a beta of 0.59.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.32). The business had revenue of $932.36 million during the quarter, compared to analyst estimates of $945.60 million. Helmerich & Payne had a negative return on equity of 1.16% and a negative net margin of 9.38%.Helmerich & Payne’s revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.01 EPS. Research analysts anticipate that Helmerich & Payne, Inc. will post 0.02 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The firm also recently declared 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. This represents a $1.00 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, August 18th. Helmerich & Payne’s dividend payout ratio (DPR) is currently -26.39%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on HP shares. Royal Bank Of Canada increased their target price on Helmerich & Payne from $38.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Morgan Stanley increased their target price on Helmerich & Payne from $35.00 to $39.00 and gave the stock an “underweight” rating in a research note on Thursday, May 14th. TD Cowen increased their target price on Helmerich & Payne from $35.00 to $38.00 and gave the stock a “hold” rating in a research note on Monday, February 9th. The Goldman Sachs Group increased their target price on Helmerich & Payne from $35.00 to $41.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 3rd. Finally, Piper Sandler raised their price target on Helmerich & Payne from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $40.60.

Insiders Place Their Bets

In other Helmerich & Payne news, SVP Cara M. Hair sold 58,771 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $36.62, for a total value of $2,152,194.02. Following the completion of the sale, the senior vice president owned 175,589 shares of the company’s stock, valued at approximately $6,430,069.18. This trade represents a 25.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.40% of the company’s stock.

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.