Universal Beteiligungs und Servicegesellschaft mbH Increases Stake in Helmerich & Payne, Inc. $HP

Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 27.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 181,027 shares of the oil and gas company’s stock after acquiring an additional 38,927 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.18% of Helmerich & Payne worth $3,999,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HP. Balyasny Asset Management L.P. raised its holdings in shares of Helmerich & Payne by 174.1% in the 2nd 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 purchasing an additional 1,298,510 shares in the last quarter. Norges Bank bought a new position in Helmerich & Payne in the second quarter worth approximately $10,571,000. Bridgeway Capital Management LLC purchased a new stake in Helmerich & Payne during the second quarter worth $7,841,000. Empowered Funds LLC lifted its holdings in Helmerich & Payne by 3,600.1% during the second quarter. Empowered Funds LLC now owns 349,990 shares of the oil and gas company’s stock worth $5,306,000 after buying an additional 340,531 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Helmerich & Payne by 22.9% during 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 acquiring an additional 321,004 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on HP. Piper Sandler raised Helmerich & Payne from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $21.00 to $35.00 in a research report on Thursday, December 18th. TD Cowen reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Wednesday, January 7th. Citigroup boosted their target price on shares of Helmerich & Payne from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Weiss Ratings restated a “sell (d+)” rating on shares of Helmerich & Payne in a report on Monday, December 29th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $32.00 price objective on shares of Helmerich & Payne in a research report on Wednesday, January 14th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $33.00.

Insider Activity at Helmerich & Payne

In other news, Director Hans Helmerich sold 75,000 shares of the stock in a transaction on Friday, December 19th. The shares were sold at an average price of $28.12, for a total value of $2,109,000.00. Following the sale, the director owned 496,735 shares in the company, valued at $13,968,188.20. This represents a 13.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is owned by company insiders.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $33.30 on Wednesday. The business has a fifty day moving average of $29.63 and a 200 day moving average of $24.11. Helmerich & Payne, Inc. has a 1 year low of $14.65 and a 1 year high of $34.10. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.80 and a quick ratio of 1.40. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of -19.94 and a beta of 0.56.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Monday, November 17th. The oil and gas company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.27). Helmerich & Payne had a negative net margin of 4.37% and a positive return on equity of 3.21%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $972.79 million. During the same quarter in the previous year, the firm posted $0.76 EPS. The firm’s revenue for the quarter was up 45.8% compared to the same quarter last year. As a group, research analysts expect that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, February 13th. Helmerich & Payne’s payout ratio is presently -59.88%.

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.