Victory Capital Management Inc. Trims Stock Position in Helmerich & Payne, Inc. $HP

Victory Capital Management Inc. reduced its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 28.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,638,885 shares of the oil and gas company’s stock after selling 1,047,808 shares during the quarter. Victory Capital Management Inc. owned about 2.65% of Helmerich & Payne worth $58,293,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC grew its position in shares of 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 purchasing an additional 1,582 shares during the period. Rothschild Investment LLC boosted its stake in Helmerich & Payne by 1,377.8% in the 3rd quarter. Rothschild Investment LLC now owns 1,330 shares of the oil and gas company’s stock worth $29,000 after buying an additional 1,240 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Helmerich & Payne by 46.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 1,745 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 554 shares during the period. Hantz Financial Services Inc. increased its stake in shares of Helmerich & Payne by 184.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,831 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 1,187 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Helmerich & Payne by 21.3% in the third quarter. Smartleaf Asset Management LLC now owns 2,487 shares of the oil and gas company’s stock worth $55,000 after acquiring an additional 437 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Insider Activity

In other Helmerich & Payne news, Director Hans Helmerich sold 75,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at $13,968,188.20. This trade represents a 13.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on HP. Piper Sandler lifted their target price on shares of Helmerich & Payne from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Citigroup raised their price objective on Helmerich & Payne from $33.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, February 11th. Royal Bank Of Canada boosted their price objective on Helmerich & Payne from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research note on Friday, February 6th. Barclays upped their target price on Helmerich & Payne from $36.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Finally, Evercore set a $37.00 target price on Helmerich & Payne in a report on Friday, February 6th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Helmerich & Payne has a consensus rating of “Hold” and a consensus price target of $36.20.

Helmerich & Payne Price Performance

Shares of NYSE:HP opened at $34.00 on Friday. Helmerich & Payne, Inc. has a 52 week low of $14.65 and a 52 week high of $36.73. 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 firm has a market capitalization of $3.39 billion, a P/E ratio of -10.66 and a beta of 0.54. The firm’s 50 day moving average is $33.05 and its two-hundred day moving average is $27.49.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.27). Helmerich & Payne had a negative net margin of 7.71% and a positive return on equity of 0.28%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $990.16 million. During the same quarter last year, the business posted $0.71 EPS. The business’s revenue for the quarter was up 50.2% on a year-over-year basis. Analysts anticipate that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

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