Grantham Mayo Van Otterloo & Co. LLC Buys New Stake in Helmerich & Payne, Inc. $HP

Grantham Mayo Van Otterloo & Co. LLC bought a new stake in shares of Helmerich & Payne, Inc. (NYSE:HP) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 246,800 shares of the oil and gas company’s stock, valued at approximately $5,452,000.

Other hedge funds also recently bought and sold shares of the company. Balyasny Asset Management L.P. boosted its stake in shares of 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 valued at $30,993,000 after acquiring an additional 1,298,510 shares during the last quarter. Norges Bank purchased a new stake in Helmerich & Payne during the 2nd quarter worth about $10,571,000. Bridgeway Capital Management LLC acquired a new position in Helmerich & Payne in the 2nd quarter valued at about $7,841,000. Empowered Funds LLC raised its stake in Helmerich & Payne by 3,600.1% in the 2nd quarter. Empowered Funds LLC now owns 349,990 shares of the oil and gas company’s stock valued at $5,306,000 after purchasing an additional 340,531 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Helmerich & Payne by 22.9% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Analysts Set New Price Targets

HP has been the subject of a number of recent research reports. Piper Sandler lifted their price target on shares of Helmerich & Payne from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Barclays upped their price objective on shares of Helmerich & Payne from $36.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, February 10th. The Goldman Sachs Group restated a “neutral” rating and set a $32.00 target price on shares of Helmerich & Payne in a research report on Wednesday, January 14th. Wall Street Zen cut shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. Finally, Susquehanna reissued a “positive” rating and set a $40.00 price target on shares of Helmerich & Payne in a research note on Friday, February 6th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Helmerich & Payne presently has a consensus rating of “Hold” and a consensus price target of $36.20.

Insider Activity at Helmerich & Payne

In related news, Director Hans Helmerich sold 75,000 shares of the business’s stock in a transaction that occurred 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. The trade was a 13.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.40% of the company’s stock.

Helmerich & Payne Stock Up 0.8%

Shares of Helmerich & Payne stock opened at $34.36 on Tuesday. Helmerich & Payne, Inc. has a twelve month low of $14.65 and a twelve month high of $36.73. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of -10.77 and a beta of 0.54. The company has a current ratio of 2.03, a quick ratio of 1.58 and a debt-to-equity ratio of 0.75. The company has a fifty day moving average price of $33.17 and a 200 day moving average price of $27.75.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data 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). The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $990.16 million. Helmerich & Payne had a negative net margin of 7.71% and a positive return on equity of 0.28%. The company’s revenue for the quarter was up 50.2% compared to the same quarter last year. During the same period last year, the business earned $0.71 earnings per share. Equities research analysts forecast that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, May 18th. Helmerich & Payne’s dividend payout ratio (DPR) 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.