Hsbc Holdings PLC Acquires Shares of 217,907 Helmerich & Payne, Inc. $HP

Hsbc Holdings PLC bought a new position in shares of Helmerich & Payne, Inc. (NYSE:HP) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 217,907 shares of the oil and gas company’s stock, valued at approximately $7,206,000. Hsbc Holdings PLC owned about 0.22% of Helmerich & Payne as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Helmerich & Payne during the 2nd quarter valued at approximately $513,336,000. Dimensional Fund Advisors LP boosted its holdings in Helmerich & Payne by 11.0% in the first quarter. Dimensional Fund Advisors LP now owns 5,735,765 shares of the oil and gas company’s stock worth $206,660,000 after purchasing an additional 570,500 shares during the period. State Street Corp boosted its holdings in Helmerich & Payne by 0.8% in the fourth quarter. State Street Corp now owns 4,222,536 shares of the oil and gas company’s stock worth $121,102,000 after purchasing an additional 33,193 shares during the period. Invesco Ltd. increased its stake in Helmerich & Payne by 15.5% during the fourth quarter. Invesco Ltd. now owns 3,468,526 shares of the oil and gas company’s stock valued at $99,477,000 after purchasing an additional 465,440 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its stake in Helmerich & Payne by 4.3% during the third quarter. Balyasny Asset Management L.P. now owns 2,132,265 shares of the oil and gas company’s stock valued at $47,102,000 after purchasing an additional 87,882 shares during the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on HP. Piper Sandler raised their price target on shares of Helmerich & Payne from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Royal Bank Of Canada boosted their price objective on shares of Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Morgan Stanley increased their price objective on shares of Helmerich & Payne from $36.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, August 20th. Citigroup cut their target price on shares of Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, June 29th. Finally, The Goldman Sachs Group lifted their target price on Helmerich & Payne from $35.00 to $41.00 and gave the company a “neutral” rating in a research note on Wednesday, June 3rd. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Helmerich & Payne presently has an average rating of “Hold” and a consensus target price of $41.00.

Helmerich & Payne Stock Performance

Shares of HP opened at $42.51 on Friday. The firm has a fifty day moving average of $36.51 and a 200-day moving average of $36.59. The company has a market cap of $4.25 billion, a price-to-earnings ratio of -30.15 and a beta of 0.61. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.55 and a current ratio of 1.96. Helmerich & Payne, Inc. has a 1 year low of $19.50 and a 1 year high of $45.00.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.20). Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $987.70 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities analysts anticipate that Helmerich & Payne, Inc. will post -0.16 earnings per share 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, August 18th. Helmerich & Payne’s dividend payout ratio is -70.92%.

Insider Activity at Helmerich & Payne

In other news, SVP Cara M. Hair sold 11,149 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $44.27, for a total transaction of $493,566.23. Following the transaction, the senior vice president directly owned 136,095 shares of the company’s stock, valued at approximately $6,024,925.65. This trade represents a 7.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hans Helmerich sold 94,470 shares of Helmerich & Payne stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $43.90, for a total transaction of $4,147,233.00. Following the sale, the director owned 20,000 shares in the company, valued at approximately $878,000. This represents a 82.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 110,673 shares of company stock worth $4,864,590 in the last three months. 4.40% of the stock is owned by company insiders.

About Helmerich & Payne

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.