Tcfg Wealth Management LLC Sells 56,458 Shares of Helmerich & Payne, Inc. $HP

Tcfg Wealth Management LLC decreased its stake in Helmerich & Payne, Inc. (NYSE:HP) by 77.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,050 shares of the oil and gas company’s stock after selling 56,458 shares during the period. Tcfg Wealth Management LLC’s holdings in Helmerich & Payne were worth $578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. MQS Management LLC acquired a new stake in Helmerich & Payne during the 1st quarter valued at approximately $381,000. Canoe Financial LP acquired a new position in shares of Helmerich & Payne in the 1st quarter worth approximately $33,130,000. Louisiana State Employees Retirement System acquired a new position in shares of Helmerich & Payne in the 1st quarter worth approximately $1,596,000. William B. Walkup & Associates Inc. boosted its stake in shares of Helmerich & Payne by 1.0% in the 1st quarter. William B. Walkup & Associates Inc. now owns 35,241 shares of the oil and gas company’s stock valued at $1,270,000 after purchasing an additional 355 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of Helmerich & Payne by 18.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,840 shares of the oil and gas company’s stock valued at $225,000 after purchasing an additional 1,200 shares during the last quarter. 96.05% of the stock is currently owned by institutional investors.

Helmerich & Payne Stock Down 1.6%

Shares of NYSE HP opened at $32.82 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.71 and a debt-to-equity ratio of 0.71. The firm has a market cap of $3.28 billion, a PE ratio of -8.66 and a beta of 0.59. The company’s fifty day simple moving average is $37.90 and its 200 day simple moving average is $34.85. Helmerich & Payne, Inc. has a 12-month low of $15.08 and a 12-month high of $41.82.

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

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders 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 annualized dividend and a dividend yield of 3.0%. Helmerich & Payne’s dividend payout ratio (DPR) is currently -26.39%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HP. Piper Sandler boosted their target price on shares of Helmerich & Payne from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Morgan Stanley lifted their price objective on Helmerich & Payne from $35.00 to $39.00 and gave the stock an “underweight” rating in a research report on Thursday, May 14th. Citigroup dropped their price objective on Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday. Barclays upped their target price on Helmerich & Payne from $39.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Evercore upgraded Helmerich & Payne from an “in-line” rating to an “outperform” rating and set a $43.00 target price for the company in a report on Friday, March 20th. 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, Helmerich & Payne has a consensus rating of “Hold” and a consensus price target of $40.40.

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.