Saxon Interests Inc. Makes New $205,000 Investment in Helmerich & Payne, Inc. (NYSE:HP)

Saxon Interests Inc. acquired a new position in shares of Helmerich & Payne, Inc. (NYSE:HP) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,870 shares of the oil and gas company’s stock, valued at approximately $205,000.

Other hedge funds have also recently bought and sold shares of the company. Principal Securities Inc. acquired a new stake in shares of Helmerich & Payne in the fourth quarter valued at $35,000. Hexagon Capital Partners LLC increased its stake in shares of Helmerich & Payne by 514.4% in the first quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 787 shares in the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of Helmerich & Payne in the fourth quarter valued at $60,000. GAMMA Investing LLC acquired a new stake in shares of Helmerich & Payne in the fourth quarter valued at $73,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Helmerich & Payne in the fourth quarter valued at $176,000. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 transaction of $398,580.20. Following the transaction, the senior vice president now owns 137,764 shares in the company, valued at approximately $5,540,868.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $398,580.20. Following the transaction, the senior vice president now owns 137,764 shares in the company, valued at approximately $5,540,868.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark W. Smith sold 16,000 shares of Helmerich & Payne 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 transaction, the chief financial officer now owns 144,870 shares in the company, valued at approximately $5,865,786.30. The disclosure for this sale can be found here. Company insiders own 4.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, April 25th. Citigroup raised their price target on Helmerich & Payne from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Susquehanna decreased their price target on Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating on the stock in a report on Friday, April 26th. Finally, Piper Sandler decreased their price target on Helmerich & Payne from $44.00 to $39.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $42.29.

Helmerich & Payne Price Performance

Shares of HP opened at $35.68 on Wednesday. The company has a current ratio of 2.16, a quick ratio of 1.92 and a debt-to-equity ratio of 0.19. Helmerich & Payne, Inc. has a 1 year low of $32.17 and a 1 year high of $46.55. The stock has a market cap of $3.52 billion, a P/E ratio of 10.19, a price-to-earnings-growth ratio of 3.98 and a beta of 1.48. The stock’s 50-day moving average price is $36.91 and its two-hundred day moving average price is $37.98.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Thursday, April 25th. The oil and gas company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01). Helmerich & Payne had a return on equity of 13.21% and a net margin of 12.84%. The company had revenue of $687.94 million for the quarter, compared to the consensus estimate of $682.51 million. During the same quarter last year, the business posted $1.26 EPS. Helmerich & Payne’s quarterly revenue was down 10.6% on a year-over-year basis. On average, equities analysts predict that Helmerich & Payne, Inc. will post 3.46 earnings per share 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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Friday, August 16th. Helmerich & Payne’s dividend payout ratio (DPR) is currently 28.57%.

About Helmerich & Payne

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.