Comerica Bank Has $1.34 Million Holdings in Helmerich & Payne, Inc. $HP

Comerica Bank cut its stake in Helmerich & Payne, Inc. (NYSE:HP) by 38.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 46,599 shares of the oil and gas company’s stock after selling 29,032 shares during the period. Comerica Bank’s holdings in Helmerich & Payne were worth $1,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of HP. Rothschild Investment LLC raised its position in shares of Helmerich & Payne by 1,377.8% during the third quarter. Rothschild Investment LLC now owns 1,330 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 1,240 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Helmerich & Payne by 2,433.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock worth $25,000 after buying an additional 1,582 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Helmerich & Payne by 46.5% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,745 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 554 shares during the period. Hantz Financial Services Inc. increased its stake in Helmerich & Payne by 184.3% during the third quarter. Hantz Financial Services Inc. now owns 1,831 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 1,187 shares during the period. Finally, Parallel Advisors LLC raised its holdings in Helmerich & Payne by 407.1% in the 3rd quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 1,787 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Helmerich & Payne in a report on Friday, March 27th. TD Cowen raised their target price on Helmerich & Payne from $35.00 to $38.00 and gave the stock a “hold” rating in a research report on Monday, February 9th. Piper Sandler lifted their price target on shares of Helmerich & Payne from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. The Goldman Sachs Group reissued a “neutral” rating and issued a $32.00 price target on shares of Helmerich & Payne in a report on Wednesday, January 14th. Finally, Royal Bank Of Canada increased their price objective on shares of Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $39.10.

Insider Activity at Helmerich & Payne

In other news, SVP Cara M. Hair sold 58,771 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $36.62, for a total value of $2,152,194.02. Following the sale, the senior vice president owned 175,589 shares in the company, valued at approximately $6,430,069.18. The trade was a 25.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.40% of the company’s stock.

Helmerich & Payne Trading Up 2.7%

HP stock opened at $37.89 on Friday. Helmerich & Payne, Inc. has a 1-year low of $14.65 and a 1-year high of $41.68. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.71. The business’s 50 day moving average is $35.92 and its 200-day moving average is $31.99. The firm has a market cap of $3.78 billion, a P/E ratio of -10.00 and a beta of 0.62.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.32). The company had revenue of $932.36 million for 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%.Helmerich & Payne’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.01 EPS. Equities analysts anticipate that Helmerich & Payne, Inc. will post 0.11 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.6%. Helmerich & Payne’s dividend payout ratio (DPR) is presently -31.35%.

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.