LSV Asset Management Trims Holdings in Helmerich & Payne, Inc. $HP

LSV Asset Management reduced its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 18.5% in the third quarter, Holdings Channel reports. The firm owned 1,149,262 shares of the oil and gas company’s stock after selling 261,709 shares during the period. LSV Asset Management’s holdings in Helmerich & Payne were worth $25,387,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. lifted its holdings in Helmerich & Payne by 8.1% during the 2nd quarter. American Century Companies Inc. now owns 3,224,611 shares of the oil and gas company’s stock valued at $48,885,000 after buying an additional 240,771 shares in the last quarter. Invesco Ltd. raised its stake in shares of Helmerich & Payne by 9.5% during the second quarter. Invesco Ltd. now owns 2,959,928 shares of the oil and gas company’s stock valued at $44,873,000 after acquiring an additional 255,794 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of 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 valued at $30,993,000 after purchasing an additional 1,298,510 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Helmerich & Payne by 22.9% in 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 purchasing an additional 321,004 shares during the period. Finally, Fairfax Financial Holdings Ltd. Can grew its stake in Helmerich & Payne by 25.8% in the second quarter. Fairfax Financial Holdings Ltd. Can now owns 974,105 shares of the oil and gas company’s stock worth $14,767,000 after purchasing an additional 200,000 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors.

Insider Transactions at Helmerich & Payne

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

Wall Street Analyst Weigh In

HP has been the subject of a number of research analyst reports. Citigroup lifted their target price on Helmerich & Payne from $33.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday. JPMorgan Chase & Co. upgraded Helmerich & Payne from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $24.00 to $34.00 in a report on Wednesday, December 10th. Barclays increased their target price on shares of Helmerich & Payne from $36.00 to $39.00 and gave the stock an “overweight” rating in a report on Tuesday. TD Cowen raised their target price on shares of Helmerich & Payne from $35.00 to $38.00 and gave the company a “hold” rating in a research report on Monday, February 9th. Finally, Evercore ISI set a $37.00 price target on shares of Helmerich & Payne in a research report on Friday, February 6th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Helmerich & Payne has an average rating of “Hold” and an average target price of $35.36.

Helmerich & Payne Price Performance

Shares of HP stock opened at $33.15 on Friday. The stock’s 50-day moving average is $31.28 and its 200 day moving average is $25.65. Helmerich & Payne, Inc. has a 1-year low of $14.65 and a 1-year high of $36.73. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.03 and a quick ratio of 1.58. The company has a market cap of $3.31 billion, a P/E ratio of -10.39 and a beta of 0.57.

Helmerich & Payne (NYSE:HP) last released 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 firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $990.16 million. During the same period in the previous year, the company posted $0.71 earnings per share. The business’s quarterly revenue was up 50.2% compared to the same quarter last year. Research analysts predict that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, February 13th. Helmerich & Payne’s dividend payout ratio (DPR) 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.