Dimensional Fund Advisors LP Buys 570,500 Shares of Helmerich & Payne, Inc. $HP

Dimensional Fund Advisors LP grew its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 11.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,735,765 shares of the oil and gas company’s stock after purchasing an additional 570,500 shares during the quarter. Dimensional Fund Advisors LP owned about 0.06% of Helmerich & Payne worth $206,660,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Balyasny Asset Management L.P. grew its stake 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 buying an additional 1,298,510 shares in the last quarter. Encompass Capital Advisors LLC increased its stake in shares of Helmerich & Payne by 165.1% during the 4th quarter. Encompass Capital Advisors LLC now owns 2,081,644 shares of the oil and gas company’s stock worth $59,702,000 after purchasing an additional 1,296,537 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Helmerich & Payne by 316.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,218,057 shares of the oil and gas company’s stock valued at $26,907,000 after purchasing an additional 925,921 shares during the period. Canoe Financial LP bought a new stake in shares of Helmerich & Payne in the 1st quarter valued at about $33,130,000. Finally, Deprince Race & Zollo Inc. acquired a new stake in Helmerich & Payne in the 4th quarter valued at about $23,120,000. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Trading Up 0.6%

Shares of HP stock opened at $35.29 on Friday. The firm has a 50 day moving average price of $36.02 and a two-hundred day moving average price of $35.40. The company has a quick ratio of 1.32, a current ratio of 1.71 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $3.53 billion, a PE ratio of -9.31 and a beta of 0.60. Helmerich & Payne, Inc. has a 12-month low of $15.17 and a 12-month high of $41.82.

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

Helmerich & Payne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 annualized dividend and a yield of 2.8%. Helmerich & Payne’s payout ratio is -26.39%.

Analyst Ratings Changes

A number of brokerages have weighed in on HP. The Goldman Sachs Group boosted their price target on Helmerich & Payne from $35.00 to $41.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 3rd. Piper Sandler lifted their target price on Helmerich & Payne from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Citigroup decreased their target price on Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, June 29th. Susquehanna dropped their price target on Helmerich & Payne from $43.00 to $40.00 and set a “positive” rating on the stock in a research note on Wednesday, July 8th. Finally, Royal Bank Of Canada raised their price target on Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $39.80.

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.