United Capital Financial Advisers LLC Has $343,000 Position in Helmerich & Payne, Inc. (NYSE:HP)

Posted by Defense World Staff on Mar 8th, 2023

United Capital Financial Advisers LLC reduced its position in shares of Helmerich & Payne, Inc. (NYSE:HP – Get Rating) by 35.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,284 shares of the oil and gas company’s stock after selling 5,068 shares during the quarter. United Capital Financial Advisers LLC’s holdings in Helmerich & Payne were worth $343,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in HP. Sugarloaf Wealth Management LLC increased its stake in shares of Helmerich & Payne by 91.9% in the third quarter. Sugarloaf Wealth Management LLC now owns 1,351 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 647 shares during the last quarter. CastleArk Alternatives LLC acquired a new position in shares of Helmerich & Payne in the second quarter worth $381,000. Cullen Capital Management LLC increased its stake in shares of Helmerich & Payne by 11.4% in the third quarter. Cullen Capital Management LLC now owns 8,996 shares of the oil and gas company’s stock worth $333,000 after acquiring an additional 922 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Helmerich & Payne in the third quarter worth $1,860,000. Finally, DCM Advisors LLC acquired a new position in shares of Helmerich & Payne in the second quarter worth $235,000. 92.42% of the stock is owned by institutional investors and hedge funds.

Helmerich & Payne Stock Down 2.3 %

HP stock opened at $43.69 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.30 and a quick ratio of 2.10. Helmerich & Payne, Inc. has a 52-week low of $34.74 and a 52-week high of $54.59. The company has a 50-day moving average of $46.17 and a two-hundred day moving average of $46.00. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of 30.34 and a beta of 1.67.

Helmerich & Payne (NYSE:HP – Get Rating) last released its quarterly earnings results on Tuesday, January 31st. The oil and gas company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.30. Helmerich & Payne had a net margin of 6.56% and a return on equity of 6.43%. The company had revenue of $719.60 million during the quarter, compared to analysts’ expectations of $699.92 million. During the same period in the prior year, the company earned ($0.45) earnings per share. The business’s quarterly revenue was up 75.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Helmerich & Payne, Inc. will post 4.77 EPS for the current year.

Helmerich & Payne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Thursday, May 18th will be paid a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 4.44%. The ex-dividend date is Wednesday, May 17th. Helmerich & Payne’s payout ratio is presently 69.44%.

Wall Street Analyst Weigh In

HP has been the subject of a number of recent research reports. Susquehanna upped their price objective on shares of Helmerich & Payne from $65.00 to $72.00 and gave the stock a “positive” rating in a report on Wednesday, February 1st. Barclays upped their price objective on shares of Helmerich & Payne to $65.00 in a report on Monday, November 21st. Morgan Stanley upped their price objective on shares of Helmerich & Payne from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Monday, November 21st. Evercore ISI upped their price objective on shares of Helmerich & Payne to $67.00 in a report on Monday, November 21st. Finally, Piper Sandler upped their price objective on shares of Helmerich & Payne from $61.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, November 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.91.

About Helmerich & Payne

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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.