Empowered Funds LLC Acquires Shares of 448,947 Helmerich & Payne, Inc. $HP

Empowered Funds LLC purchased a new stake in shares of Helmerich & Payne, Inc. (NYSE:HP) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 448,947 shares of the oil and gas company’s stock, valued at approximately $14,699,000.

A number of other large investors also recently bought and sold shares of the stock. Royal Bank of Canada lifted its position in shares of 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 valued at $2,721,000 after buying an additional 4,394 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 worth $1,531,000 after acquiring an additional 3,611 shares in the last quarter. NewEdge Advisors LLC raised its position in Helmerich & Payne by 39,685.1% during the first quarter. NewEdge Advisors LLC now owns 34,613 shares of the oil and gas company’s stock worth $904,000 after acquiring an additional 34,526 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Helmerich & Payne by 34.5% during the first 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 acquiring an additional 54,758 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Helmerich & Payne by 454.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,909 shares of the oil and gas company’s stock valued at $120,000 after purchasing an additional 6,483 shares in the last quarter. 96.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on HP. Morgan Stanley boosted their price objective on Helmerich & Payne from $36.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, August 20th. Citigroup lowered 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, June 29th. Wall Street Zen upgraded Helmerich & Payne from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Barclays increased their price objective on Helmerich & Payne from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, August 10th. Finally, Piper Sandler raised their price objective on Helmerich & Payne from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Helmerich & Payne has an average rating of “Hold” and an average target price of $41.00.

Insider Buying and Selling

In other news, SVP Cara M. Hair sold 11,149 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $44.27, for a total transaction of $493,566.23. Following the sale, the senior vice president owned 136,095 shares of the company’s stock, valued at approximately $6,024,925.65. This trade represents a 7.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sara Marie Momper sold 5,054 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $44.28, for a total transaction of $223,791.12. Following the sale, the chief accounting officer directly owned 16,958 shares in the company, valued at approximately $750,900.24. The trade was a 22.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 110,673 shares of company stock worth $4,864,590. Company insiders own 4.40% of the company’s stock.

Helmerich & Payne Stock Up 0.2%

Shares of HP opened at $42.51 on Friday. The company’s 50-day moving average price is $36.51 and its 200 day moving average price is $36.59. Helmerich & Payne, Inc. has a 12-month low of $19.50 and a 12-month high of $45.00. The company has a current ratio of 1.96, a quick ratio of 1.55 and a debt-to-equity ratio of 0.69. The firm has a market cap of $4.25 billion, a P/E ratio of -30.15 and a beta of 0.61.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.20). Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%.The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $987.70 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. On average, sell-side analysts forecast that Helmerich & Payne, Inc. will post -0.16 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Tuesday, August 18th. Helmerich & Payne’s dividend payout ratio is presently -70.92%.

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.