Dockside LLC Invests $739,000 in Helmerich & Payne, Inc. $HP

Dockside LLC bought a new position in Helmerich & Payne, Inc. (NYSE:HP) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 22,582 shares of the oil and gas company’s stock, valued at approximately $739,000.

Other hedge funds also recently bought and sold shares of the company. Aventail Capital Group LP purchased a new position in shares of Helmerich & Payne during the fourth quarter valued at approximately $5,464,000. UBS Group AG lifted its stake in Helmerich & Payne by 17.5% in the fourth quarter. UBS Group AG now owns 1,215,192 shares of the oil and gas company’s stock worth $34,852,000 after acquiring an additional 180,638 shares during the period. Corigliano Investment Advisers LLC bought a new stake in Helmerich & Payne in the fourth quarter valued at $8,573,000. Dynamic Technology Lab Private Ltd bought a new stake in Helmerich & Payne in the fourth quarter valued at $1,522,000. Finally, Canoe Financial LP purchased a new position in Helmerich & Payne during the 1st quarter valued at $33,130,000. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HP. Wall Street Zen upgraded shares of Helmerich & Payne from a “sell” rating to a “hold” rating in a report on Saturday. Morgan Stanley reaffirmed an “underweight” rating and set a $36.00 target price on shares of Helmerich & Payne in a research note on Wednesday, July 15th. Weiss Ratings raised shares of Helmerich & Payne from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Citigroup decreased their price target on shares of Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, June 29th. Finally, Royal Bank Of Canada lifted their price objective on Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $40.50.

Helmerich & Payne Stock Up 2.5%

HP stock opened at $44.17 on Friday. The business has a 50 day moving average of $35.36 and a 200 day moving average of $35.98. The firm has a market cap of $4.41 billion, a PE ratio of -31.32 and a beta of 0.61. Helmerich & Payne, Inc. has a twelve month low of $17.30 and a twelve month high of $44.65. The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 0.69.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%.The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $987.70 million. During the same period in the prior year, the company posted $0.22 earnings per share. The company’s revenue was down .6% on a year-over-year basis. On average, research analysts forecast that Helmerich & Payne, Inc. will post -0.07 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. Investors of record on Tuesday, August 18th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.3%. Helmerich & Payne’s payout ratio is presently -70.92%.

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.