Park Place Capital Corp Lowers Stock Holdings in Helmerich & Payne, Inc. (NYSE:HP)

Park Place Capital Corp trimmed its position in Helmerich & Payne, Inc. (NYSE:HP) by 47.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 644 shares of the oil and gas company’s stock after selling 593 shares during the quarter. Park Place Capital Corp’s holdings in Helmerich & Payne were worth $27,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Ridgewood Investments LLC increased its position in shares of Helmerich & Payne by 2.5% in the first quarter. Ridgewood Investments LLC now owns 12,852 shares of the oil and gas company’s stock worth $541,000 after purchasing an additional 308 shares during the last quarter. AlphaMark Advisors LLC increased its position in shares of Helmerich & Payne by 5.8% in the fourth quarter. AlphaMark Advisors LLC now owns 6,339 shares of the oil and gas company’s stock worth $230,000 after purchasing an additional 346 shares during the last quarter. Marathon Capital Management increased its position in shares of Helmerich & Payne by 0.4% in the fourth quarter. Marathon Capital Management now owns 109,315 shares of the oil and gas company’s stock worth $3,959,000 after purchasing an additional 409 shares during the last quarter. Savant Capital LLC increased its position in shares of Helmerich & Payne by 3.0% in the fourth quarter. Savant Capital LLC now owns 14,882 shares of the oil and gas company’s stock worth $539,000 after purchasing an additional 438 shares during the last quarter. Finally, M&T Bank Corp increased its position in shares of Helmerich & Payne by 5.7% in the fourth quarter. M&T Bank Corp now owns 8,510 shares of the oil and gas company’s stock worth $308,000 after purchasing an additional 457 shares during the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Helmerich & Payne

In other news, SVP Cara M. Hair sold 9,910 shares of Helmerich & Payne stock in a transaction dated 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 owns 137,764 shares of the company’s stock, valued at approximately $5,540,868.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Cara M. Hair sold 9,910 shares of Helmerich & Payne stock in a transaction dated 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 owns 137,764 shares of the company’s stock, valued at approximately $5,540,868.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Mark W. Smith sold 16,000 shares of Helmerich & Payne 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 completion of the sale, the chief financial officer now owns 144,870 shares of the company’s stock, valued at $5,865,786.30. The disclosure for this sale can be found here. 4.38% of the stock is owned by insiders.

Wall Street Analyst Weigh In

HP has been the topic of a number of recent research reports. Piper Sandler reduced their price target on shares of Helmerich & Payne from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Susquehanna reduced their price target on shares of Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating on the stock in a research report on Friday, April 26th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, April 25th. Finally, Citigroup increased their price target on shares of 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 issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Helmerich & Payne presently has an average rating of “Hold” and an average price target of $42.29.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $35.68 on Wednesday. The stock has a fifty day moving average of $36.91 and a 200 day moving average of $37.98. Helmerich & Payne, Inc. has a 52 week low of $32.17 and a 52 week high of $46.55. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 3.98 and a beta of 1.48. The company has a quick ratio of 1.92, a current ratio of 2.16 and a debt-to-equity ratio of 0.19.

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

Helmerich & Payne Cuts Dividend

The business also recently declared 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. This represents a $1.00 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Friday, August 16th. Helmerich & Payne’s dividend payout ratio is presently 28.57%.

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.