Empowered Funds LLC Acquires 27,442 Shares of Helmerich & Payne, Inc. $HP

Empowered Funds LLC increased its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 6.1% during the first quarter, HoldingsChannel reports. The firm owned 474,752 shares of the oil and gas company’s stock after buying an additional 27,442 shares during the period. Empowered Funds LLC’s holdings in Helmerich & Payne were worth $17,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HP. Royal Bank of Canada boosted its position in Helmerich & Payne by 4.4% in the first quarter. Royal Bank of Canada now owns 104,180 shares of the oil and gas company’s stock worth $2,721,000 after purchasing an additional 4,394 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 purchasing an additional 3,611 shares during the period. NewEdge Advisors LLC grew its stake 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 valued at $904,000 after acquiring an additional 34,526 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of 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 valued at $5,575,000 after purchasing an additional 54,758 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Helmerich & Payne by 454.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,909 shares of the oil and gas company’s stock worth $120,000 after acquiring an additional 6,483 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Price Performance

Shares of HP stock opened at $33.19 on Wednesday. The company’s 50-day simple moving average is $35.70 and its two-hundred day simple moving average is $35.46. The company has a market capitalization of $3.32 billion, a P/E ratio of -8.76 and a beta of 0.60. Helmerich & Payne, Inc. has a one year low of $15.17 and a one year high of $41.82. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 1.32.

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

Helmerich & Payne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, August 18th. Helmerich & Payne’s dividend payout ratio (DPR) is presently -26.39%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. The Goldman Sachs Group upped their price objective on Helmerich & Payne from $35.00 to $41.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Citigroup reduced their price target on shares of Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, June 29th. Royal Bank Of Canada upped their price target on shares of Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Morgan Stanley reiterated an “underweight” rating and set a $36.00 price objective on shares of Helmerich & Payne in a research report on Wednesday, July 15th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Helmerich & Payne in a report on Wednesday, June 24th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.80.

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.