Helmerich & Payne, Inc. $HP Shares Acquired by Fairfax Financial Holdings Ltd. Can

Fairfax Financial Holdings Ltd. Can increased its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 20.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,174,105 shares of the oil and gas company’s stock after purchasing an additional 200,000 shares during the quarter. Helmerich & Payne accounts for about 1.3% of Fairfax Financial Holdings Ltd. Can’s investment portfolio, making the stock its 13th largest holding. Fairfax Financial Holdings Ltd. Can owned about 1.18% of Helmerich & Payne worth $25,948,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings 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 purchasing an additional 1,582 shares during the period. Rothschild Investment LLC lifted its position in shares of Helmerich & Payne by 1,377.8% in the 3rd quarter. Rothschild Investment LLC now owns 1,330 shares of the oil and gas company’s stock worth $29,000 after buying an additional 1,240 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted 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. boosted its holdings 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 during the period. Finally, Parallel Advisors LLC grew its position in shares of 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 last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Insiders Place Their Bets

In related news, Director Hans Helmerich sold 75,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $13,968,188.20. This trade represents a 13.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.40% of the stock is owned by corporate insiders.

Helmerich & Payne Price Performance

NYSE HP opened at $35.71 on Friday. Helmerich & Payne, Inc. has a 12 month low of $14.65 and a 12 month high of $36.73. The firm has a market capitalization of $3.57 billion, a PE ratio of -11.19 and a beta of 0.54. The company’s 50 day simple moving average is $33.62 and its 200 day simple moving average is $28.07. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.03 and a quick ratio of 1.58.

Helmerich & Payne (NYSE:HP) last released its earnings results 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). Helmerich & Payne had a positive return on equity of 0.28% and a negative net margin of 7.71%.The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $990.16 million. During the same quarter last year, the company earned $0.71 earnings per share. The business’s revenue for the quarter was up 50.2% on a year-over-year basis. As a group, equities research analysts forecast that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be issued a $0.25 dividend. The ex-dividend date is Monday, May 18th. This represents a $1.00 annualized dividend and a dividend yield of 2.8%. Helmerich & Payne’s dividend payout ratio is -31.35%.

Analyst Upgrades and Downgrades

HP has been the topic of a number of recent research reports. Evercore set a $37.00 target price on shares of Helmerich & Payne in a report on Friday, February 6th. Morgan Stanley reaffirmed an “underweight” rating and set a $28.00 target price on shares of Helmerich & Payne in a report on Wednesday, January 21st. Susquehanna reiterated a “positive” rating and set a $40.00 price target on shares of Helmerich & Payne in a research report on Friday, February 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of Helmerich & Payne in a report on Monday, December 29th. Finally, Citigroup boosted their price objective on Helmerich & Payne from $33.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, February 11th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Helmerich & Payne presently has an average rating of “Hold” and a consensus target price of $36.20.

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.