LSV Asset Management Sells 261,709 Shares of Helmerich & Payne, Inc. $HP

LSV Asset Management reduced its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 18.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,149,262 shares of the oil and gas company’s stock after selling 261,709 shares during the quarter. LSV Asset Management owned about 1.16% of Helmerich & Payne worth $25,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in shares of Helmerich & Payne by 2,433.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 1,582 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Helmerich & Payne by 46.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 1,745 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 554 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of Helmerich & Payne by 184.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,831 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 1,187 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Helmerich & Payne by 21.3% during the third quarter. Smartleaf Asset Management LLC now owns 2,487 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 437 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Helmerich & Payne in the second quarter worth about $64,000. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on HP. Piper Sandler increased their price target on Helmerich & Payne from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday. Evercore increased their target price on Helmerich & Payne from $20.00 to $27.00 and gave the company an “in-line” rating in a research report on Wednesday, November 19th. Susquehanna restated a “positive” rating and issued a $40.00 price target on shares of Helmerich & Payne in a research report on Friday, February 6th. Evercore ISI set a $37.00 price target on shares of Helmerich & Payne in a research note on Friday, February 6th. Finally, JPMorgan Chase & Co. raised shares of Helmerich & Payne from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $24.00 to $34.00 in a research note on Wednesday, December 10th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Helmerich & Payne currently has a consensus rating of “Hold” and a consensus price target of $35.36.

Helmerich & Payne Stock Performance

NYSE:HP opened at $33.15 on Friday. The firm has a market capitalization of $3.31 billion, a PE ratio of -10.39 and a beta of 0.57. The stock’s fifty day moving average is $31.28 and its 200 day moving average is $25.65. Helmerich & Payne, Inc. has a fifty-two week low of $14.65 and a fifty-two week high of $36.73. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.58 and a current ratio of 2.03.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.27). The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $990.16 million. Helmerich & Payne had a negative net margin of 7.71% and a positive return on equity of 0.28%. The company’s revenue was up 50.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 EPS. On average, sell-side analysts anticipate that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, February 13th. Helmerich & Payne’s dividend payout ratio is -31.35%.

Insider Transactions at Helmerich & Payne

In other Helmerich & Payne news, Director Hans Helmerich sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $28.12, for a total transaction of $2,109,000.00. Following the completion of the transaction, the director owned 496,735 shares in the company, valued at $13,968,188.20. The trade was a 13.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.40% of the stock is currently owned by insiders.

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.