Quantbot Technologies LP Purchases New Position in Helmerich & Payne, Inc. $HP

Quantbot Technologies LP purchased a new position in Helmerich & Payne, Inc. (NYSE:HP) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,587 shares of the oil and gas company’s stock, valued at approximately $499,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. grew its holdings in shares of Helmerich & Payne by 8.1% during the 2nd quarter. American Century Companies Inc. now owns 3,224,611 shares of the oil and gas company’s stock worth $48,885,000 after acquiring an additional 240,771 shares during the period. Invesco Ltd. lifted its stake in shares of Helmerich & Payne by 9.5% in the 2nd quarter. Invesco Ltd. now owns 2,959,928 shares of the oil and gas company’s stock valued at $44,873,000 after purchasing an additional 255,794 shares during the period. Balyasny Asset Management L.P. boosted its position in shares of Helmerich & Payne by 174.1% during the second 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. The Manufacturers Life Insurance Company boosted its position in shares of Helmerich & Payne by 22.9% during the second 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 purchasing an additional 321,004 shares in the last quarter. Finally, Fairfax Financial Holdings Ltd. Can grew its stake in Helmerich & Payne by 25.8% in the second quarter. Fairfax Financial Holdings Ltd. Can now owns 974,105 shares of the oil and gas company’s stock worth $14,767,000 after purchasing an additional 200,000 shares during the period. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Helmerich & Payne Price Performance

Shares of HP opened at $34.00 on Monday. Helmerich & Payne, Inc. has a twelve month low of $14.65 and a twelve month high of $36.73. The company has a market capitalization of $3.39 billion, a P/E ratio of -10.66 and a beta of 0.54. The firm has a 50 day moving average of $33.05 and a 200 day moving average of $27.63. The company has a quick ratio of 1.58, a current ratio of 2.03 and a debt-to-equity ratio of 0.75.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $990.16 million. During the same period last year, the company posted $0.71 earnings per share. The business’s revenue was up 50.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, May 18th. Helmerich & Payne’s dividend payout ratio is presently -31.35%.

Analysts Set New Price Targets

HP has been the subject of a number of research reports. Barclays increased their price objective on Helmerich & Payne from $36.00 to $39.00 and gave the stock an “overweight” rating in a report on Tuesday, February 10th. Wall Street Zen cut shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a report on Sunday, November 23rd. JPMorgan Chase & Co. raised shares of Helmerich & Payne from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $24.00 to $34.00 in a research report on Wednesday, December 10th. Citigroup increased their price target on shares of Helmerich & Payne from $33.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 11th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $36.20.

Insider Activity at Helmerich & Payne

In related news, Director Hans Helmerich sold 75,000 shares of the stock in a transaction on 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 sale, the director directly owned 496,735 shares of the company’s stock, 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 SEC, which is available at the SEC website. 4.40% of the stock is owned by company insiders.

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.