Segall Bryant & Hamill LLC Trims Stake in Helmerich & Payne, Inc. $HP

Segall Bryant & Hamill LLC lessened its position in Helmerich & Payne, Inc. (NYSE:HP) by 4.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 522,693 shares of the oil and gas company’s stock after selling 27,151 shares during the period. Segall Bryant & Hamill LLC’s holdings in Helmerich & Payne were worth $18,833,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in Helmerich & Payne by 2,433.8% during 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 purchasing an additional 1,582 shares during the last quarter. Leonteq Securities AG bought a new stake in Helmerich & Payne in the fourth quarter worth about $26,000. Parallel Advisors LLC lifted 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 last quarter. Hantz Financial Services Inc. boosted its position in shares of Helmerich & Payne by 24.3% during the fourth quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock valued at $65,000 after buying an additional 445 shares during the period. Finally, Strs Ohio purchased a new position in shares of Helmerich & Payne during the first quarter valued at approximately $101,000. 96.05% of the stock is currently owned by institutional investors.

Helmerich & Payne Price Performance

Helmerich & Payne stock opened at $34.52 on Friday. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of -9.11 and a beta of 0.60. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 1.32. Helmerich & Payne, Inc. has a 1 year low of $15.17 and a 1 year high of $41.82. The firm has a 50-day moving average of $35.33 and a two-hundred day moving average of $35.49.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.32). Helmerich & Payne had a negative return on equity of 1.16% and a negative net margin of 9.38%.The company had revenue of $932.36 million for the quarter, compared to analysts’ expectations of $945.60 million. During the same period last year, the business posted $0.01 earnings per share. The business’s revenue was down 8.2% compared to the same quarter last year. On average, research analysts forecast that Helmerich & Payne, Inc. will post -0.11 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.00 annualized dividend and a yield of 2.9%. Helmerich & Payne’s dividend payout ratio is -26.39%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HP. The Goldman Sachs Group upped their target price on Helmerich & Payne from $35.00 to $41.00 and gave the company a “neutral” rating in a research note on Wednesday, June 3rd. Citigroup decreased their price target on Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, June 29th. Weiss Ratings restated a “sell (d+)” rating on shares of Helmerich & Payne in a report on Wednesday, June 24th. Morgan Stanley reaffirmed an “underweight” rating and issued a $36.00 price objective on shares of Helmerich & Payne in a research report on Wednesday, July 15th. Finally, 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. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $39.80.

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.