Readystate Asset Management LP Purchases New Stake in Helmerich & Payne, Inc. $HP

Readystate Asset Management LP acquired a new position in shares of Helmerich & Payne, Inc. (NYSE:HP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 284,389 shares of the oil and gas company’s stock, valued at approximately $9,311,000. Readystate Asset Management LP owned 0.28% of Helmerich & Payne as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Nykredit A S bought a new stake in shares of Helmerich & Payne during the 2nd quarter worth approximately $112,000. Alyeska Investment Group L.P. increased its stake in Helmerich & Payne by 217.4% in the second quarter. Alyeska Investment Group L.P. now owns 1,526,707 shares of the oil and gas company’s stock valued at $49,984,000 after acquiring an additional 1,045,727 shares during the last quarter. Hsbc Holdings PLC raised its position in Helmerich & Payne by 289.2% during the second quarter. Hsbc Holdings PLC now owns 217,907 shares of the oil and gas company’s stock valued at $7,206,000 after purchasing an additional 161,920 shares in the last quarter. Empowered Funds LLC bought a new stake in Helmerich & Payne during the second quarter worth $14,699,000. Finally, Corient Private Wealth LP acquired a new stake in shares of Helmerich & Payne in the 2nd quarter valued at $281,000. 96.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on HP. Barclays upped their price objective on Helmerich & Payne from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. Morgan Stanley raised their price target on shares of Helmerich & Payne from $36.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, August 20th. Piper Sandler upped their price objective on shares of Helmerich & Payne from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Weiss Ratings downgraded shares of Helmerich & Payne from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, August 27th. Finally, Wall Street Zen raised shares of Helmerich & Payne from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $42.20.

Helmerich & Payne Stock Performance

Shares of Helmerich & Payne stock opened at $44.33 on Monday. 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, Inc. has a twelve month low of $19.62 and a twelve month high of $48.17. The stock has a market cap of $4.43 billion, a price-to-earnings ratio of -31.44 and a beta of 0.66. The company’s fifty day moving average is $37.62 and its 200 day moving average is $37.01.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $987.70 million. During the same period in the prior year, the business earned $0.22 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts forecast that Helmerich & Payne, Inc. will post -0.18 EPS for the current year.

Insider Activity at Helmerich & Payne

In other Helmerich & Payne news, CAO Sara Momper sold 5,054 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $44.28, for a total transaction of $223,791.12. Following the completion of the transaction, the chief accounting officer owned 16,958 shares in the company, valued at approximately $750,900.24. This trade represents a 22.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hans Helmerich sold 94,470 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $43.90, for a total transaction of $4,147,233.00. Following the completion of the transaction, the director owned 20,000 shares in the company, valued at $878,000. This trade represents a 82.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 110,673 shares of company stock worth $4,864,590 over the last ninety days. Insiders own 4.40% of the company’s stock.

Helmerich & Payne 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.