Legal & General Group Plc Decreases Stock Position in Helmerich & Payne, Inc. $HP

Legal & General Group Plc lessened its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 9.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 244,073 shares of the oil and gas company’s stock after selling 24,168 shares during the period. Legal & General Group Plc’s holdings in Helmerich & Payne were worth $7,000,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of HP. EverSource Wealth Advisors LLC raised its holdings in Helmerich & Payne by 2,433.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 1,582 shares during the period. Leonteq Securities AG purchased a new stake in Helmerich & Payne during the 4th quarter valued at $26,000. Rothschild Investment LLC raised its holdings in Helmerich & Payne by 1,377.8% during the 3rd quarter. Rothschild Investment LLC now owns 1,330 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 1,240 shares during the period. Hantz Financial Services Inc. raised its holdings in 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 buying an additional 1,187 shares during the period. Finally, Parallel Advisors LLC raised its holdings in Helmerich & Payne by 407.1% during the 3rd quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 1,787 shares during the period. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Insider Activity

In other news, SVP Cara M. Hair sold 58,771 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $36.62, for a total transaction of $2,152,194.02. Following the transaction, the senior vice president owned 175,589 shares of the company’s stock, valued at approximately $6,430,069.18. This represents a 25.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.40% of the company’s stock.

Helmerich & Payne Stock Performance

HP stock opened at $37.44 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.71 and a debt-to-equity ratio of 0.71. The business’s fifty day simple moving average is $37.63 and its two-hundred day simple moving average is $33.89. Helmerich & Payne, Inc. has a twelve month low of $15.08 and a twelve month high of $41.82. The firm has a market cap of $3.74 billion, a price-to-earnings ratio of -9.88 and a beta of 0.59.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.32). Helmerich & Payne had a negative return on equity of 1.16% and a negative net margin of 9.38%.The business had revenue of $932.36 million during the quarter, compared to analysts’ expectations of $945.60 million. During the same quarter in the previous year, the business earned $0.01 EPS. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. Analysts predict that Helmerich & Payne, Inc. will post 0.02 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.7%. Helmerich & Payne’s dividend payout ratio is presently -26.39%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HP. Evercore upgraded Helmerich & Payne from an “in-line” rating to an “outperform” rating and set a $43.00 price target on the stock in a report on Friday, March 20th. Susquehanna increased their price target on Helmerich & Payne from $42.00 to $43.00 and gave the company a “positive” rating in a report on Friday, May 8th. TD Cowen increased their price target on Helmerich & Payne from $35.00 to $38.00 and gave the company a “hold” rating in a report on Monday, February 9th. Royal Bank Of Canada increased their price target on Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Finally, Piper Sandler increased their price target on Helmerich & Payne from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $40.60.

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.