Hexagon Capital Partners LLC Boosts Stock Position in Helmerich & Payne, Inc. (NYSE:HP)

Hexagon Capital Partners LLC grew its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 514.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 940 shares of the oil and gas company’s stock after buying an additional 787 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Helmerich & Payne were worth $40,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Securities Inc. bought a new position in Helmerich & Payne during the 4th quarter valued at $35,000. Creekmur Asset Management LLC bought a new position in shares of Helmerich & Payne during the fourth quarter worth about $60,000. GAMMA Investing LLC acquired a new position in Helmerich & Payne in the fourth quarter worth about $73,000. Neo Ivy Capital Management acquired a new position in Helmerich & Payne in the fourth quarter worth about $176,000. Finally, Quadrant Capital Group LLC increased its holdings in Helmerich & Payne by 12.7% in the fourth quarter. Quadrant Capital Group LLC now owns 5,548 shares of the oil and gas company’s stock valued at $201,000 after buying an additional 625 shares during the last quarter. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $35.74 on Tuesday. Helmerich & Payne, Inc. has a 12-month low of $32.17 and a 12-month high of $46.55. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 1.92. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 10.21, a price-to-earnings-growth ratio of 3.98 and a beta of 1.48. The business has a 50 day simple moving average of $37.04 and a 200 day simple moving average of $37.99.

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

Helmerich & Payne Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, August 16th. This represents a $1.00 annualized dividend and a yield of 2.80%. Helmerich & Payne’s payout ratio is 28.57%.

Analyst Ratings Changes

Several brokerages have recently commented on HP. Susquehanna decreased their target price on 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 decreased their price objective on shares of Helmerich & Payne from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a report on Thursday, April 25th. Finally, Citigroup increased their price target on Helmerich & Payne from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $42.29.

Insiders Place Their Bets

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

Helmerich & Payne Profile

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.