Public Sector Pension Investment Board Buys 49,460 Shares of Helmerich & Payne, Inc. $HP

Public Sector Pension Investment Board grew its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 14.6% during the 3rd quarter, Holdings Channel reports. The firm owned 387,865 shares of the oil and gas company’s stock after buying an additional 49,460 shares during the period. Public Sector Pension Investment Board’s holdings in Helmerich & Payne were worth $8,568,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Illinois Municipal Retirement Fund grew its stake in shares of Helmerich & Payne by 15.4% in the third quarter. Illinois Municipal Retirement Fund now owns 52,262 shares of the oil and gas company’s stock valued at $1,154,000 after buying an additional 6,973 shares in the last quarter. Rhumbline Advisers lifted its stake in Helmerich & Payne by 1.2% in the third quarter. Rhumbline Advisers now owns 306,386 shares of the oil and gas company’s stock valued at $6,768,000 after acquiring an additional 3,552 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Helmerich & Payne by 61.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 117,958 shares of the oil and gas company’s stock valued at $2,606,000 after acquiring an additional 44,906 shares during the period. Profund Advisors LLC grew its position in shares of Helmerich & Payne by 8.4% in the 3rd quarter. Profund Advisors LLC now owns 22,774 shares of the oil and gas company’s stock valued at $503,000 after acquiring an additional 1,764 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of Helmerich & Payne by 21.3% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,487 shares of the oil and gas company’s stock worth $55,000 after purchasing an additional 437 shares during the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Insider Activity at Helmerich & Payne

In related news, Director Hans Helmerich sold 75,000 shares of the firm’s stock in a transaction dated Friday, December 19th. The shares were 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 trade represents a 13.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HP. Citigroup raised their target price on shares of Helmerich & Payne from $33.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, February 11th. Weiss Ratings restated a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Monday, December 29th. Piper Sandler lifted their target price on Helmerich & Payne from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, February 9th. Wall Street Zen lowered Helmerich & Payne from a “hold” rating to a “sell” rating in a report on Sunday, November 23rd. Finally, Susquehanna reaffirmed a “positive” rating and set a $40.00 price target on shares of Helmerich & Payne in a report on Friday, February 6th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Helmerich & Payne has an average rating of “Hold” and an average price target of $35.36.

Helmerich & Payne Price Performance

Helmerich & Payne stock opened at $33.15 on Tuesday. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of -10.39 and a beta of 0.57. The company has a current ratio of 2.03, a quick ratio of 1.58 and a debt-to-equity ratio of 0.75. Helmerich & Payne, Inc. has a 12 month low of $14.65 and a 12 month high of $36.73. The stock’s 50 day moving average is $31.36 and its 200-day moving average is $25.89.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share (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 during the quarter, compared to the consensus estimate of $990.16 million. During the same quarter last year, the firm earned $0.71 earnings per share. The business’s revenue for the quarter was up 50.2% compared to the same quarter last year. Equities research analysts expect that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, February 13th. Helmerich & Payne’s payout ratio is presently -31.35%.

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.