Public Sector Pension Investment Board Buys 49,460 Shares of Helmerich & Payne, Inc. $HP

Public Sector Pension Investment Board lifted its position in Helmerich & Payne, Inc. (NYSE:HP) by 14.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 387,865 shares of the oil and gas company’s stock after acquiring an additional 49,460 shares during the period. Public Sector Pension Investment Board owned approximately 0.39% of Helmerich & Payne worth $8,568,000 at the end of the most recent quarter.

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

Insider Transactions at Helmerich & Payne

In other news, Director Hans Helmerich sold 75,000 shares of the stock in a transaction dated Friday, December 19th. The shares were 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 directly owned 496,735 shares in the company, valued at $13,968,188.20. This represents a 13.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 4.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HP. Citigroup boosted their target price on Helmerich & Payne from $33.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, February 11th. Morgan Stanley reiterated an “underweight” rating and set a $28.00 price objective on shares of Helmerich & Payne in a report on Wednesday, January 21st. The Goldman Sachs Group reissued a “neutral” rating and set a $32.00 target price on shares of Helmerich & Payne in a research note on Wednesday, January 14th. Weiss Ratings restated a “sell (d+)” rating on shares of Helmerich & Payne in a report on Monday, December 29th. Finally, Piper Sandler lifted their price target on shares of Helmerich & Payne from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, February 9th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $35.36.

Helmerich & Payne Stock Up 0.9%

Shares of Helmerich & Payne stock opened at $33.15 on Tuesday. The firm has a market cap of $3.31 billion, a PE ratio of -10.39 and a beta of 0.57. The business’s 50 day simple moving average is $31.36 and its 200 day simple moving average is $25.89. 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, Inc. has a 52-week low of $14.65 and a 52-week high of $36.73.

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

Helmerich & Payne Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.00 dividend on an annualized basis and a yield of 3.0%. Helmerich & Payne’s dividend payout ratio (DPR) is -31.35%.

Helmerich & Payne 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.