Man Group plc Takes Position in Helmerich & Payne, Inc. $HP

Man Group plc acquired a new position in Helmerich & Payne, Inc. (NYSE:HP) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 50,467 shares of the oil and gas company’s stock, valued at approximately $1,652,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in Helmerich & Payne by 2,433.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 1,582 shares during the last quarter. Leonteq Securities AG purchased a new position in Helmerich & Payne during the 4th quarter worth approximately $26,000. Parallel Advisors LLC lifted its stake in Helmerich & Payne by 407.1% during the 3rd quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 1,787 shares during the period. Hantz Financial Services Inc. boosted its holdings in shares of Helmerich & Payne by 24.3% in the 4th quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock valued at $65,000 after acquiring an additional 445 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Helmerich & Payne in the first quarter worth $101,000. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Stock Up 6.2%

HP opened at $46.27 on Wednesday. Helmerich & Payne, Inc. has a fifty-two week low of $19.50 and a fifty-two week high of $46.53. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.55 and a current ratio of 1.96. The company has a fifty day moving average of $36.88 and a two-hundred day moving average of $36.75. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of -32.82 and a beta of 0.65.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.20). Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%.The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $987.70 million. During the same period in the previous year, the company earned $0.22 earnings per share. The company’s revenue was down .6% compared to the same quarter last year. On average, research analysts expect that Helmerich & Payne, Inc. will post -0.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wall Street Zen raised shares of Helmerich & Payne from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings cut Helmerich & Payne from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, August 27th. Susquehanna upped their target price on Helmerich & Payne from $40.00 to $44.00 and gave the stock a “positive” rating in a research note on Friday, August 7th. Barclays raised their target price on Helmerich & Payne from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Finally, Morgan Stanley boosted their price target on Helmerich & Payne from $36.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, August 20th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $41.00.

Insider Buying and Selling

In related news, Director Hans Helmerich sold 94,470 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $43.90, for a total value of $4,147,233.00. Following the completion of the transaction, the director owned 20,000 shares of the company’s stock, valued at approximately $878,000. This represents a 82.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Cara M. Hair sold 11,149 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $44.27, for a total value of $493,566.23. Following the transaction, the senior vice president owned 136,095 shares in the company, valued at $6,024,925.65. This represents a 7.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 110,673 shares of company stock valued at $4,864,590. 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.