Parallel Advisors LLC Grows Position in Helmerich & Payne, Inc. (NYSE:HP)

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Parallel Advisors LLC grew its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 2,704.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 701 shares of the oil and gas company’s stock after buying an additional 676 shares during the period. Parallel Advisors LLC’s holdings in Helmerich & Payne were worth $35,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Commonwealth Bank of Australia boosted its holdings in shares of Helmerich & Payne by 150.0% during the first quarter. Commonwealth Bank of Australia now owns 500 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 300 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in Helmerich & Payne in the first quarter valued at $28,000. Synovus Financial Corp boosted its holdings in Helmerich & Payne by 45.0% in the first quarter. Synovus Financial Corp now owns 580 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 180 shares during the last quarter. Edge Wealth Management LLC boosted its holdings in Helmerich & Payne by 233.3% in the second quarter. Edge Wealth Management LLC now owns 1,000 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 700 shares during the last quarter. Finally, CSat Investment Advisory L.P. boosted its holdings in Helmerich & Payne by 38.6% in the first quarter. CSat Investment Advisory L.P. now owns 941 shares of the oil and gas company’s stock valued at $52,000 after acquiring an additional 262 shares during the last quarter. 90.41% of the stock is owned by institutional investors.

A number of brokerages recently weighed in on HP. ValuEngine cut Helmerich & Payne from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. B. Riley reiterated a “buy” rating and issued a $63.00 target price (down previously from $83.00) on shares of Helmerich & Payne in a report on Friday, August 2nd. Piper Jaffray Companies reduced their target price on Helmerich & Payne from $57.00 to $52.50 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. AltaCorp Capital reiterated an “outperform” rating on shares of Helmerich & Payne in a report on Thursday, June 20th. Finally, TheStreet cut Helmerich & Payne from a “b-” rating to a “c+” rating in a report on Tuesday, May 28th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $61.86.

Shares of HP traded up $0.26 during midday trading on Wednesday, reaching $36.91. 9,835 shares of the company were exchanged, compared to its average volume of 1,601,561. The stock has a 50-day moving average price of $45.38 and a 200-day moving average price of $52.48. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 263.64 and a beta of 1.49. Helmerich & Payne, Inc. has a 1-year low of $36.22 and a 1-year high of $73.74. The company has a current ratio of 2.86, a quick ratio of 2.47 and a debt-to-equity ratio of 0.12.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.05. The company had revenue of $687.97 million for the quarter, compared to analysts’ expectations of $689.41 million. Helmerich & Payne had a positive return on equity of 4.06% and a negative net margin of 2.54%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. Equities research analysts anticipate that Helmerich & Payne, Inc. will post 1.58 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 7.69%. The ex-dividend date is Friday, August 9th. Helmerich & Payne’s dividend payout ratio is presently 2,028.57%.

Helmerich & Payne Profile

Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.

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Institutional Ownership by Quarter for Helmerich & Payne (NYSE:HP)

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