Freestone Capital Holdings LLC Buys New Position in Helmerich & Payne, Inc. (NYSE:HP)

Freestone Capital Holdings LLC purchased a new position in shares of Helmerich & Payne, Inc. (NYSE:HP) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,000 shares of the oil and gas company’s stock, valued at approximately $1,009,000.

Several other large investors have also recently made changes to their positions in the business. Headlands Technologies LLC bought a new stake in Helmerich & Payne in the first quarter valued at $33,000. Hexagon Capital Partners LLC raised its position in Helmerich & Payne by 514.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock worth $40,000 after buying an additional 787 shares during the last quarter. Covestor Ltd grew its stake in shares of Helmerich & Payne by 253.4% during the 1st quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 674 shares during the period. Principal Securities Inc. bought a new stake in shares of Helmerich & Payne during the 4th quarter valued at about $35,000. Finally, Whittier Trust Co. grew its stake in shares of Helmerich & Payne by 94.9% during the 1st quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 595 shares during the period. 96.05% of the stock is owned by hedge funds and other institutional investors.

Helmerich & Payne Stock Down 2.4 %

HP stock traded down $0.99 during trading on Friday, reaching $40.07. 1,956,312 shares of the company traded hands, compared to its average volume of 1,272,406. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.92 and a current ratio of 2.16. The company has a market capitalization of $3.96 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 4.19 and a beta of 1.47. The business has a 50 day simple moving average of $36.46 and a 200 day simple moving average of $38.11. Helmerich & Payne, Inc. has a 12 month low of $32.17 and a 12 month high of $46.55.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.15. Helmerich & Payne had a return on equity of 12.48% and a net margin of 12.72%. The business had revenue of $697.70 million during the quarter, compared to the consensus estimate of $670.78 million. During the same quarter last year, the company earned $1.09 earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. On average, equities research analysts anticipate that Helmerich & Payne, Inc. will post 3.44 earnings per share for the current fiscal year.

Helmerich & Payne Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Friday, August 16th. Helmerich & Payne’s payout ratio is 28.57%.

Insider Activity at Helmerich & Payne

In other Helmerich & Payne news, SVP Cara M. Hair sold 9,910 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $40.22, for a total transaction of $398,580.20. Following the transaction, the senior vice president now directly owns 137,764 shares of the company’s stock, valued at $5,540,868.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Mark W. Smith sold 16,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $40.49, for a total value of $647,840.00. Following the transaction, the chief financial officer now directly owns 144,870 shares of the company’s stock, valued at $5,865,786.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Cara M. Hair sold 9,910 shares of Helmerich & Payne stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $40.22, for a total transaction of $398,580.20. Following the transaction, the senior vice president now directly owns 137,764 shares in the company, valued at $5,540,868.08. The disclosure for this sale can be found here. 4.38% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Royal Bank of Canada boosted their price objective on Helmerich & Payne from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Friday. Susquehanna decreased their price target on Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating on the stock in a report on Friday, April 26th. Bank of America reduced their target price on Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday. Finally, Piper Sandler dropped their price target on Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Helmerich & Payne currently has a consensus rating of “Hold” and an average price target of $41.88.

Helmerich & Payne Profile

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.