Helmerich & Payne, Inc. $HP Stock Holdings Increased by Fairfax Financial Holdings Ltd. Can

Fairfax Financial Holdings Ltd. Can boosted its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 20.5% in the 3rd quarter, Holdings Channel reports. The firm owned 1,174,105 shares of the oil and gas company’s stock after buying an additional 200,000 shares during the period. Helmerich & Payne makes up approximately 1.3% of Fairfax Financial Holdings Ltd. Can’s portfolio, making the stock its 13th largest holding. Fairfax Financial Holdings Ltd. Can’s holdings in Helmerich & Payne were worth $25,948,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. grew its position in Helmerich & Payne by 174.1% in the second quarter. Balyasny Asset Management L.P. now owns 2,044,383 shares of the oil and gas company’s stock worth $30,993,000 after buying an additional 1,298,510 shares during the last quarter. Norges Bank bought a new stake in shares of Helmerich & Payne during the 2nd quarter worth $10,571,000. Bridgeway Capital Management LLC bought a new stake in shares of Helmerich & Payne during the 2nd quarter worth $7,841,000. Empowered Funds LLC grew its holdings in shares of Helmerich & Payne by 3,600.1% in the 2nd quarter. Empowered Funds LLC now owns 349,990 shares of the oil and gas company’s stock worth $5,306,000 after acquiring an additional 340,531 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 worth $26,083,000 after purchasing an additional 321,004 shares during the period. 96.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on HP shares. 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 restated a “positive” rating and set a $40.00 price objective on shares of Helmerich & Payne in a report on Friday, February 6th. JPMorgan Chase & Co. upgraded Helmerich & Payne from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $24.00 to $34.00 in a report on Wednesday, December 10th. Wall Street Zen lowered shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. Finally, Royal Bank Of Canada raised their target price on shares of Helmerich & Payne from $34.00 to $36.00 and gave the stock a “sector perform” rating in a report on Friday, February 6th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $36.20.

Insider Buying and Selling

In other Helmerich & Payne news, Director Hans Helmerich sold 75,000 shares of the company’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $28.12, for a total value of $2,109,000.00. Following the transaction, the director directly owned 496,735 shares of the company’s stock, valued at $13,968,188.20. This represents a 13.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.40% of the stock is owned by company insiders.

Helmerich & Payne Stock Up 5.5%

HP stock opened at $35.71 on Friday. The company has a 50 day moving average of $33.62 and a two-hundred day moving average of $28.07. The company has a market cap of $3.57 billion, a price-to-earnings ratio of -11.19 and a beta of 0.54. Helmerich & Payne, Inc. has a 12-month low of $14.65 and a 12-month high of $36.73. The company has a quick ratio of 1.58, a current ratio of 2.03 and a debt-to-equity ratio of 0.75.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.27). Helmerich & Payne had a negative net margin of 7.71% and a positive return on equity of 0.28%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $990.16 million. During the same quarter in the prior year, the firm earned $0.71 earnings per share. The company’s revenue was up 50.2% on a year-over-year basis. On average, equities analysts anticipate that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

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

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.