Healthcare of Ontario Pension Plan Trust Fund Acquires Shares of 277,063 Helmerich & Payne, Inc. $HP

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Helmerich & Payne, Inc. (NYSE:HP) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 277,063 shares of the oil and gas company’s stock, valued at approximately $9,983,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Leonteq Securities AG bought a new stake in shares of Helmerich & Payne in the fourth quarter valued at about $26,000. EverSource Wealth Advisors LLC increased its position in Helmerich & Payne by 2,433.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 1,582 shares during the period. Parallel Advisors LLC increased its position in Helmerich & Payne by 407.1% during the third quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 1,787 shares during the period. Hantz Financial Services Inc. increased its position in Helmerich & Payne by 24.3% during the fourth quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock worth $65,000 after acquiring an additional 445 shares during the period. Finally, Strs Ohio acquired a new stake in Helmerich & Payne in the 1st quarter worth about $101,000. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Price Performance

HP stock opened at $33.19 on Wednesday. The company has a 50 day simple moving average of $35.70 and a 200 day simple moving average of $35.46. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of -8.76 and a beta of 0.60. Helmerich & Payne, Inc. has a 1 year low of $15.17 and a 1 year high of $41.82. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 1.32.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.32). The company had revenue of $932.36 million during the quarter, compared to analyst estimates of $945.60 million. Helmerich & Payne had a negative net margin of 9.38% and a negative return on equity of 1.16%. The business’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 EPS. Research analysts anticipate that Helmerich & Payne, Inc. will post -0.11 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.00 annualized dividend and a dividend yield of 3.0%. Helmerich & Payne’s dividend payout ratio (DPR) is -26.39%.

Analysts Set New Price Targets

A number of analysts have issued reports on HP shares. Piper Sandler boosted their price objective on shares of Helmerich & Payne from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Susquehanna dropped their price target on shares of Helmerich & Payne from $43.00 to $40.00 and set a “positive” rating for the company in a research report on Wednesday, July 8th. The Goldman Sachs Group boosted their price target on Helmerich & Payne from $35.00 to $41.00 and gave the company a “neutral” rating in a research note on Wednesday, June 3rd. Barclays increased their price target on Helmerich & Payne from $39.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Finally, Morgan Stanley restated an “underweight” rating and set a $36.00 price objective on shares of Helmerich & Payne in a research note on Wednesday, July 15th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $39.80.

Helmerich & Payne 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.