CenterBook Partners LP Invests $1.44 Million in Helmerich & Payne, Inc. $HP

CenterBook Partners LP purchased a new position in Helmerich & Payne, Inc. (NYSE:HP) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 50,201 shares of the oil and gas company’s stock, valued at approximately $1,440,000. CenterBook Partners LP owned about 0.05% of Helmerich & Payne at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Oregon Public Employees Retirement Fund increased its stake in shares of Helmerich & Payne by 1.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 22,761 shares of the oil and gas company’s stock worth $653,000 after acquiring an additional 400 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Helmerich & Payne by 21.3% in the third quarter. Smartleaf Asset Management LLC now owns 2,487 shares of the oil and gas company’s stock worth $55,000 after acquiring an additional 437 shares during the last quarter. Hantz Financial Services Inc. increased its stake in shares of Helmerich & Payne by 24.3% in the fourth 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. KLCM Advisors Inc. increased its stake in shares of Helmerich & Payne by 5.5% in the fourth quarter. KLCM Advisors Inc. now owns 10,550 shares of the oil and gas company’s stock worth $303,000 after acquiring an additional 550 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of Helmerich & Payne by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 18,838 shares of the oil and gas company’s stock worth $540,000 after acquiring an additional 572 shares during the last quarter. 96.05% of the stock is owned by institutional investors and hedge funds.

Helmerich & Payne Trading Up 4.0%

Shares of NYSE:HP opened at $39.43 on Thursday. The stock has a market capitalization of $3.94 billion, a PE ratio of -10.40 and a beta of 0.59. Helmerich & Payne, Inc. has a 1 year low of $15.08 and a 1 year high of $41.82. The firm has a fifty day moving average price of $37.78 and a 200 day moving average price of $34.19. The company has a current ratio of 1.71, a quick ratio of 1.32 and a debt-to-equity ratio of 0.71.

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

Helmerich & Payne Announces Dividend

The company 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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, August 18th. Helmerich & Payne’s dividend payout ratio is -26.39%.

Insider Transactions at Helmerich & Payne

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

Analyst Ratings Changes

HP has been the topic of a number of research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Friday, March 27th. The Goldman Sachs Group upped their price target on shares of Helmerich & Payne from $35.00 to $41.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 3rd. Piper Sandler upped their price target on shares of Helmerich & Payne from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Barclays upped their price target on shares of Helmerich & Payne from $39.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Susquehanna upped their price target on shares of Helmerich & Payne from $42.00 to $43.00 and gave the stock a “positive” rating in a research note on Friday, May 8th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $40.60.

Helmerich & Payne Company 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.