CenterBook Partners LP Purchases Shares of 50,201 Helmerich & Payne, Inc. $HP

CenterBook Partners LP purchased a new stake in shares of Helmerich & Payne, Inc. (NYSE:HP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,201 shares of the oil and gas company’s stock, valued at approximately $1,440,000.

A number of other hedge funds also recently bought and sold shares of the company. American Century Companies Inc. boosted its holdings in Helmerich & Payne by 7.7% during the third quarter. American Century Companies Inc. now owns 3,474,036 shares of the oil and gas company’s stock valued at $76,741,000 after acquiring an additional 249,425 shares during the period. Invesco Ltd. raised its position in shares of Helmerich & Payne by 1.5% during the third quarter. Invesco Ltd. now owns 3,003,086 shares of the oil and gas company’s stock valued at $66,338,000 after buying an additional 43,158 shares during the last quarter. Balyasny Asset Management L.P. raised its position in shares of Helmerich & Payne by 4.3% during the third quarter. Balyasny Asset Management L.P. now owns 2,132,265 shares of the oil and gas company’s stock valued at $47,102,000 after buying an additional 87,882 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Helmerich & Payne by 1.5% during the fourth quarter. Fisher Asset Management LLC now owns 1,731,208 shares of the oil and gas company’s stock valued at $49,651,000 after buying an additional 25,085 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Helmerich & Payne by 22.9% during the second quarter. The Manufacturers Life Insurance Company now owns 1,720,505 shares of the oil and gas company’s stock valued at $26,083,000 after buying an additional 321,004 shares during the last quarter. 96.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. The Goldman Sachs Group upped their price objective on shares of Helmerich & Payne from $35.00 to $41.00 and gave the company a “neutral” rating in a research report on Wednesday, June 3rd. Morgan Stanley upped their price objective on shares of Helmerich & Payne from $35.00 to $39.00 and gave the company an “underweight” rating in a research report on Thursday, May 14th. Barclays upped their price objective on shares of Helmerich & Payne from $39.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Piper Sandler upped their price objective on shares of Helmerich & Payne from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Finally, Citigroup upped their price objective on shares of Helmerich & Payne from $33.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, February 11th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $40.60.

Helmerich & Payne Stock Up 4.0%

Shares of HP opened at $39.43 on Thursday. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of -10.40 and a beta of 0.59. The company has a quick ratio of 1.32, a current ratio of 1.71 and a debt-to-equity ratio of 0.71. Helmerich & Payne, Inc. has a 12 month low of $15.08 and a 12 month high of $41.82. The company has a 50-day moving average price of $37.78 and a two-hundred day moving average price of $34.19.

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

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.5%. Helmerich & Payne’s dividend payout ratio (DPR) is currently -26.39%.

Insider Buying and Selling

In other Helmerich & Payne news, SVP Cara M. Hair sold 58,771 shares of the firm’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $36.62, for a total transaction of $2,152,194.02. Following the completion of the transaction, the senior vice president owned 175,589 shares in the company, valued at $6,430,069.18. This trade represents a 25.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.40% of the stock is currently owned by corporate insiders.

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.