Louisiana State Employees Retirement System Invests $1.60 Million in Helmerich & Payne, Inc. $HP

Louisiana State Employees Retirement System purchased a new stake in shares of Helmerich & Payne, Inc. (NYSE:HP) during the 1st quarter, Holdings Channel reports. The fund purchased 44,300 shares of the oil and gas company’s stock, valued at approximately $1,596,000.

Several other hedge funds have also added to or reduced their stakes in HP. Royal Bank of Canada raised its holdings in Helmerich & Payne by 4.4% during the 1st quarter. Royal Bank of Canada now owns 104,180 shares of the oil and gas company’s stock worth $2,721,000 after purchasing an additional 4,394 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Helmerich & Payne by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,630 shares of the oil and gas company’s stock valued at $1,531,000 after purchasing an additional 3,611 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Helmerich & Payne by 39,685.1% in the 1st quarter. NewEdge Advisors LLC now owns 34,613 shares of the oil and gas company’s stock valued at $904,000 after purchasing an additional 34,526 shares during the last quarter. Empowered Funds LLC grew its position in shares of Helmerich & Payne by 9.9% during the 1st quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company’s stock worth $247,000 after buying an additional 852 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Helmerich & Payne by 34.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,445 shares of the oil and gas company’s stock worth $5,575,000 after buying an additional 54,758 shares during the period. Institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Down 5.9%

Shares of NYSE:HP opened at $30.80 on Thursday. The company has a 50 day moving average price of $37.85 and a two-hundred day moving average price of $34.85. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.32 and a current ratio of 1.71. The company has a market capitalization of $3.08 billion, a PE ratio of -8.13 and a beta of 0.60. Helmerich & Payne, Inc. has a 52 week low of $15.17 and a 52 week high of $41.82.

Helmerich & Payne (NYSE:HP) last announced its quarterly 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 firm had revenue of $932.36 million for the quarter, compared to the consensus estimate of $945.60 million. During the same period in the prior year, the business earned $0.01 earnings per share. The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. Analysts forecast that Helmerich & Payne, Inc. will post -0.02 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, August 18th. Helmerich & Payne’s dividend payout ratio (DPR) is presently -26.39%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group increased their price objective on shares of Helmerich & Payne from $35.00 to $41.00 and gave the company a “neutral” rating in a report on Wednesday, June 3rd. Susquehanna upped their target price on shares of Helmerich & Payne from $42.00 to $43.00 and gave the company a “positive” rating in a research report on Friday, May 8th. Citigroup cut their price target on Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday. Morgan Stanley raised their price target on Helmerich & Payne from $35.00 to $39.00 and gave the stock an “underweight” rating in a research report on Thursday, May 14th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Wednesday, June 24th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $40.40.

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.