Palisade Capital Management LP purchased a new position in shares of Helmerich & Payne, Inc. (NYSE:HP – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 60,711 shares of the oil and gas company’s stock, valued at approximately $1,988,000.
Several other institutional investors and hedge funds also recently made changes to their positions in HP. BlackRock Inc. bought a new position in Helmerich & Payne in the 2nd quarter valued at approximately $513,336,000. Dimensional Fund Advisors LP grew its holdings in Helmerich & Payne by 11.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,735,765 shares of the oil and gas company’s stock worth $206,660,000 after acquiring an additional 570,500 shares during the last quarter. State Street Corp lifted its holdings in shares of Helmerich & Payne by 0.8% during the fourth quarter. State Street Corp now owns 4,222,536 shares of the oil and gas company’s stock worth $121,102,000 after purchasing an additional 33,193 shares during the period. Invesco Ltd. lifted its holdings in shares of Helmerich & Payne by 15.5% during the fourth quarter. Invesco Ltd. now owns 3,468,526 shares of the oil and gas company’s stock worth $99,477,000 after purchasing an additional 465,440 shares during the period. Finally, Balyasny Asset Management L.P. grew its stake in shares of Helmerich & Payne by 4.3% in the third quarter. Balyasny Asset Management L.P. now owns 2,132,265 shares of the oil and gas company’s stock worth $47,102,000 after purchasing an additional 87,882 shares during the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.
Analyst Upgrades and Downgrades
HP has been the subject of several analyst reports. The Goldman Sachs Group raised their target price on Helmerich & Payne from $35.00 to $41.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 3rd. Citigroup reduced their price target on Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, June 29th. Barclays increased their price target on Helmerich & Payne from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Susquehanna lifted their price objective on Helmerich & Payne from $40.00 to $44.00 and gave the stock a “positive” rating in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded Helmerich & Payne from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $41.00.
Helmerich & Payne Price Performance
HP stock opened at $41.18 on Thursday. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of -29.21 and a beta of 0.61. The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 0.69. Helmerich & Payne, Inc. has a 12-month low of $18.79 and a 12-month high of $45.00. The company’s fifty day simple moving average is $36.20 and its 200 day simple moving average is $36.50.
Helmerich & Payne (NYSE:HP – Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%.The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $987.70 million. During the same quarter in the previous year, the business posted $0.22 earnings per share. The business’s revenue was down .6% on a year-over-year basis. On average, analysts expect that Helmerich & Payne, Inc. will post -0.16 earnings per share for the current year.
Helmerich & Payne Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. Helmerich & Payne’s dividend payout ratio is presently -70.92%.
Insider Buying and Selling
In other Helmerich & Payne news, Director Hans Helmerich sold 94,470 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $43.90, for a total transaction of $4,147,233.00. Following the transaction, the director directly owned 20,000 shares in the company, valued at approximately $878,000. This represents a 82.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sara Marie Momper sold 5,054 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $44.28, for a total value of $223,791.12. Following the transaction, the chief accounting officer owned 16,958 shares in the company, valued at $750,900.24. The trade was a 22.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 110,673 shares of company stock valued at $4,864,590 over the last 90 days. Company insiders own 4.40% of the company’s stock.
Helmerich & Payne Company Profile
Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.
Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.
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