Corigliano Investment Advisers LLC Buys Shares of 298,905 Helmerich & Payne, Inc. $HP

Corigliano Investment Advisers LLC bought a new position in shares of Helmerich & Payne, Inc. (NYSE:HP) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 298,905 shares of the oil and gas company’s stock, valued at approximately $8,573,000. Helmerich & Payne accounts for about 3.0% of Corigliano Investment Advisers LLC’s portfolio, making the stock its 13th biggest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HP. Clough Capital Partners L P bought a new stake in shares of Helmerich & Payne during the fourth quarter valued at approximately $2,230,000. Aventail Capital Group LP bought a new position in Helmerich & Payne during the 4th quarter valued at about $5,464,000. Bridgeway Capital Management LLC boosted its holdings in shares of Helmerich & Payne by 14.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 617,310 shares of the oil and gas company’s stock worth $17,704,000 after acquiring an additional 77,399 shares in the last quarter. Abel Hall LLC boosted its stake in Helmerich & Payne by 33.6% in the fourth quarter. Abel Hall LLC now owns 14,384 shares of the oil and gas company’s stock worth $413,000 after purchasing an additional 3,617 shares in the last quarter. Finally, Trexquant Investment LP lifted its position in Helmerich & Payne by 714.3% during the 4th quarter. Trexquant Investment LP now owns 184,331 shares of the oil and gas company’s stock worth $5,287,000 after buying an additional 161,694 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors.

Helmerich & Payne Trading Down 1.6%

HP stock opened at $35.78 on Thursday. Helmerich & Payne, Inc. has a one year low of $15.08 and a one year high of $41.82. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of -9.44 and a beta of 0.59. The company has a fifty day moving average price of $38.04 and a two-hundred day moving average price of $34.55. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 1.32.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) earnings per share (EPS) 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 firm had revenue of $932.36 million during the quarter, compared to the consensus estimate of $945.60 million. During the same quarter last year, the firm earned $0.01 earnings per share. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. Equities analysts anticipate that Helmerich & Payne, Inc. will post -0.02 EPS for the current year.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.8%. Helmerich & Payne’s payout ratio is -26.39%.

Wall Street Analyst Weigh In

HP has been the topic of several research reports. The Goldman Sachs Group upped their price objective on Helmerich & Payne from $35.00 to $41.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Barclays boosted their price target on shares of Helmerich & Payne from $39.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Friday, March 27th. Evercore raised Helmerich & Payne from an “in-line” rating to an “outperform” rating and set a $43.00 price target on the stock in a research note on Friday, March 20th. Finally, Piper Sandler boosted 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. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $40.60.

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.