State of Alaska Department of Revenue Cuts Stock Position in Helmerich & Payne, Inc. (NYSE:HP) (2024)

Posted by Defense World Staff on Jul 7th, 2024

State of Alaska Department of Revenue decreased its stake in shares of Helmerich & Payne, Inc. (NYSE:HP – Free Report) by 1.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,219 shares of the oil and gas company’s stock after selling 949 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Helmerich & Payne worth $2,532,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Hexagon Capital Partners LLC increased its position in shares of Helmerich & Payne by 514.4% during the first quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 787 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of Helmerich & Payne in the fourth quarter worth $35,000. Creekmur Asset Management LLC bought a new position in shares of Helmerich & Payne during the fourth quarter valued at $60,000. GAMMA Investing LLC purchased a new stake in shares of Helmerich & Payne during the fourth quarter valued at $73,000. Finally, Neo Ivy Capital Management bought a new stake in Helmerich & Payne in the 4th quarter worth about $176,000. 96.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a report on Thursday, April 25th. Susquehanna cut their target price on shares of Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating for the company in a research report on Friday, April 26th. Piper Sandler dropped their price target on Helmerich & Payne from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Finally, Citigroup upped their price objective on Helmerich & Payne from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $42.29.

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Insider Transactions at Helmerich & Payne

In other Helmerich & Payne news, SVP Cara M. Hair sold 9,910 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $40.22, for a total value of $398,580.20. Following the completion of the transaction, the senior vice president now directly owns 137,764 shares in the company, valued at approximately $5,540,868.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Mark W. Smith sold 16,000 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $40.49, for a total value of $647,840.00. Following the sale, the chief financial officer now directly owns 144,870 shares in the company, valued at $5,865,786.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Cara M. Hair sold 9,910 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $40.22, for a total value of $398,580.20. Following the transaction, the senior vice president now directly owns 137,764 shares of the company’s stock, valued at $5,540,868.08. The disclosure for this sale can be found here. Corporate insiders own 4.38% of the company’s stock.

Helmerich & Payne Stock Down 1.9 %

NYSE HP opened at $35.35 on Friday. Helmerich & Payne, Inc. has a 52 week low of $32.17 and a 52 week high of $46.55. The company has a quick ratio of 1.92, a current ratio of 2.16 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $3.49 billion, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 3.97 and a beta of 1.47. The stock’s 50-day moving average price is $36.59 and its 200-day moving average price is $37.94.

Helmerich & Payne (NYSE:HP – Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01). The firm had revenue of $687.94 million during the quarter, compared to the consensus estimate of $682.51 million. Helmerich & Payne had a return on equity of 13.21% and a net margin of 12.84%. The business’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.26 earnings per share. On average, equities research analysts predict that Helmerich & Payne, Inc. will post 3.46 earnings per share for the current year.

Helmerich & Payne Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.00 annualized dividend and a dividend yield of 2.83%. Helmerich & Payne’s payout ratio is 28.57%.

About Helmerich & Payne

(Free Report)

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.