Empowered Funds LLC Increases Stake in Helmerich & Payne, Inc. $HP

Empowered Funds LLC grew its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 6.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 474,752 shares of the oil and gas company’s stock after purchasing an additional 27,442 shares during the period. Empowered Funds LLC owned approximately 0.48% of Helmerich & Payne worth $17,105,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quantinno Capital Management LP increased its holdings in Helmerich & Payne by 11.7% during the 1st quarter. Quantinno Capital Management LP now owns 44,748 shares of the oil and gas company’s stock worth $1,612,000 after acquiring an additional 4,689 shares during the period. Entropy Technologies LP raised its stake in shares of Helmerich & Payne by 47.0% during the first quarter. Entropy Technologies LP now owns 18,059 shares of the oil and gas company’s stock worth $651,000 after acquiring an additional 5,770 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Helmerich & Payne during the first quarter worth approximately $9,983,000. Caxton Associates LLP bought a new stake in shares of Helmerich & Payne in the 1st quarter worth approximately $3,349,000. Finally, Sei Investments Co. lifted its holdings in shares of Helmerich & Payne by 52.6% in the 1st quarter. Sei Investments Co. now owns 66,255 shares of the oil and gas company’s stock worth $2,387,000 after acquiring an additional 22,850 shares during the last quarter. 96.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Citigroup reduced their target price on shares of Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, June 29th. Barclays upped their price target 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 raised their price objective on Helmerich & Payne from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, May 18th. Susquehanna decreased their price objective on Helmerich & Payne from $43.00 to $40.00 and set a “positive” rating on the stock in a report on Wednesday, July 8th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $36.00 target price on shares of Helmerich & Payne in a research note on Wednesday, July 15th. Five research 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’s stock. According to MarketBeat, Helmerich & Payne has a consensus rating of “Hold” and an average price target of $39.80.

Helmerich & Payne Stock Down 1.3%

Shares of NYSE HP opened at $33.19 on Wednesday. The company has a current ratio of 1.71, a quick ratio of 1.32 and a debt-to-equity ratio of 0.71. Helmerich & Payne, Inc. has a 12 month low of $15.17 and a 12 month high of $41.82. The firm has a fifty day simple moving average of $35.70 and a two-hundred day simple moving average of $35.46. The firm has a market capitalization of $3.32 billion, a PE ratio of -8.76 and a beta of 0.60.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.32). The firm had revenue of $932.36 million for the quarter, compared to the consensus estimate of $945.60 million. Helmerich & Payne had a negative net margin of 9.38% and a negative return on equity of 1.16%. The business’s revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 earnings per share. Equities analysts expect that Helmerich & Payne, Inc. will post -0.11 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, August 18th. Helmerich & Payne’s dividend payout ratio (DPR) is -26.39%.

About Helmerich & Payne

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.