Dynamic Technology Lab Private Ltd Takes $1.52 Million Position in Helmerich & Payne, Inc. $HP

Dynamic Technology Lab Private Ltd purchased a new stake in Helmerich & Payne, Inc. (NYSE:HP) during the 4th quarter, HoldingsChannel reports. The firm purchased 53,067 shares of the oil and gas company’s stock, valued at approximately $1,522,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Balyasny Asset Management L.P. grew its position in Helmerich & Payne by 174.1% during the second quarter. Balyasny Asset Management L.P. now owns 2,044,383 shares of the oil and gas company’s stock worth $30,993,000 after buying an additional 1,298,510 shares in the last quarter. Ameriprise Financial Inc. grew its position in Helmerich & Payne by 316.9% during the third quarter. Ameriprise Financial Inc. now owns 1,218,057 shares of the oil and gas company’s stock worth $26,907,000 after buying an additional 925,921 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new stake in Helmerich & Payne during the fourth quarter worth about $23,120,000. Bridgeway Capital Management LLC acquired a new stake in Helmerich & Payne during the second quarter worth about $7,841,000. Finally, Millennium Management LLC grew its position in Helmerich & Payne by 439.3% during the third quarter. Millennium Management LLC now owns 614,884 shares of the oil and gas company’s stock worth $13,583,000 after buying an additional 500,863 shares in the last quarter. 96.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on HP shares. The Goldman Sachs Group lifted their target price on Helmerich & Payne from $35.00 to $41.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 3rd. Barclays lifted their target price on Helmerich & Payne from $39.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of Helmerich & Payne in a research report on Friday, March 27th. Morgan Stanley lifted their target price on Helmerich & Payne from $35.00 to $39.00 and gave the stock an “underweight” rating in a research report on Thursday, May 14th. Finally, Susquehanna lifted their target price on Helmerich & Payne from $42.00 to $43.00 and gave the stock a “positive” rating in a research report on Friday, May 8th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $40.60.

Helmerich & Payne Stock Up 0.1%

NYSE HP opened at $39.24 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.32 and a debt-to-equity ratio of 0.71. The stock’s 50 day moving average is $37.94 and its two-hundred day moving average is $34.32. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of -10.35 and a beta of 0.59. Helmerich & Payne, Inc. has a 1-year low of $15.08 and a 1-year high of $41.82.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data 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 company had revenue of $932.36 million for the quarter, compared to analyst estimates of $945.60 million. Helmerich & Payne had a negative net margin of 9.38% and a negative return on equity of 1.16%. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 earnings per share. Equities analysts forecast that Helmerich & Payne, Inc. will post -0.02 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 18th. Helmerich & Payne’s payout ratio is presently -26.39%.

Insiders Place Their Bets

In other news, SVP Cara M. Hair sold 58,771 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $36.62, for a total value of $2,152,194.02. Following the transaction, the senior vice president directly owned 175,589 shares of the company’s stock, valued at $6,430,069.18. The trade was a 25.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.40% of the company’s stock.

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.