Clough Capital Partners L P Acquires New Stake in Helmerich & Payne, Inc. $HP

Clough Capital Partners L P acquired a new stake in shares of Helmerich & Payne, Inc. (NYSE:HP) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 77,742 shares of the oil and gas company’s stock, valued at approximately $2,230,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HP. Balyasny Asset Management L.P. increased its position in Helmerich & Payne by 174.1% during 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 buying an additional 1,298,510 shares in the last quarter. Ameriprise Financial Inc. increased its position in Helmerich & Payne by 316.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,218,057 shares of the oil and gas company’s stock valued at $26,907,000 after buying an additional 925,921 shares in the last quarter. Deprince Race & Zollo Inc. bought a new position in Helmerich & Payne during the 4th quarter valued at approximately $23,120,000. Bridgeway Capital Management LLC bought a new position in Helmerich & Payne during the 2nd quarter valued at approximately $7,841,000. Finally, Mariner LLC increased its position in Helmerich & Payne by 2,231.1% during the 4th quarter. Mariner LLC now owns 530,546 shares of the oil and gas company’s stock valued at $15,216,000 after buying an additional 507,787 shares in the last quarter. Institutional investors own 96.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Susquehanna lifted their target price on Helmerich & Payne from $42.00 to $43.00 and gave the stock a “positive” rating in a report on Friday, May 8th. Piper Sandler raised their price target on Helmerich & Payne from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. The Goldman Sachs Group raised their price target on Helmerich & Payne from $35.00 to $41.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 3rd. Barclays raised their price target on Helmerich & Payne from $39.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Friday, March 27th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $40.60.

Helmerich & Payne Price Performance

NYSE HP opened at $35.78 on Thursday. The company has a market capitalization of $3.58 billion, a PE ratio of -9.44 and a beta of 0.59. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.32 and a current ratio of 1.71. The business’s fifty day moving average is $38.04 and its 200 day moving average is $34.55. Helmerich & Payne, Inc. has a fifty-two week low of $15.08 and a fifty-two week high of $41.82.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.32). The company had revenue of $932.36 million for the quarter, compared to analysts’ expectations of $945.60 million. Helmerich & Payne had a negative net margin of 9.38% and a negative return on equity of 1.16%. Helmerich & Payne’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.01 earnings per share. Sell-side analysts predict that Helmerich & Payne, Inc. will post -0.02 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 annualized dividend and a yield of 2.8%. Helmerich & Payne’s payout ratio is -26.39%.

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.