LSV Asset Management Has $9.87 Million Stock Position in Helmerich & Payne, Inc. $HP

LSV Asset Management lowered its stake in Helmerich & Payne, Inc. (NYSE:HP) by 70.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 344,280 shares of the oil and gas company’s stock after selling 804,982 shares during the period. LSV Asset Management’s holdings in Helmerich & Payne were worth $9,874,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of HP. Balyasny Asset Management L.P. increased its position in 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 worth $30,993,000 after buying an additional 1,298,510 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Helmerich & Payne by 316.9% in the third quarter. Ameriprise Financial Inc. now owns 1,218,057 shares of the oil and gas company’s stock valued at $26,907,000 after purchasing an additional 925,921 shares during the last quarter. Deprince Race & Zollo Inc. acquired a new position in shares of Helmerich & Payne in the fourth quarter valued at approximately $23,120,000. Bridgeway Capital Management LLC acquired a new position in shares of Helmerich & Payne in the second quarter valued at approximately $7,841,000. Finally, Millennium Management LLC grew its position in shares of Helmerich & Payne by 439.3% in the third quarter. Millennium Management LLC now owns 614,884 shares of the oil and gas company’s stock valued at $13,583,000 after purchasing an additional 500,863 shares during the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Stock Performance

NYSE HP opened at $39.88 on Tuesday. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of -10.52 and a beta of 0.62. Helmerich & Payne, Inc. has a twelve month low of $15.03 and a twelve month high of $41.82. The stock has a fifty day simple moving average of $37.16 and a 200 day simple moving average of $33.19. The company has a quick ratio of 1.32, a current ratio of 1.71 and a debt-to-equity ratio of 0.71.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data 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). Helmerich & Payne had a negative net margin of 9.38% and a negative return on equity of 1.16%. The company had revenue of $932.36 million during the quarter, compared to analyst estimates of $945.60 million. During the same quarter in the previous year, the company earned $0.01 earnings per share. The business’s revenue for the quarter was down 8.2% on a year-over-year basis. Sell-side analysts expect that Helmerich & Payne, Inc. will post 0.02 EPS for the current year.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders 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 yield of 2.5%. The ex-dividend date is Monday, May 18th. Helmerich & Payne’s dividend payout ratio (DPR) is presently -26.39%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Citigroup increased their price target on Helmerich & Payne from $33.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 11th. Susquehanna upped their target price on Helmerich & Payne from $42.00 to $43.00 and gave the stock a “positive” rating in a research note on Friday, May 8th. Morgan Stanley upped their target price on Helmerich & Payne from $35.00 to $39.00 and gave the stock an “underweight” rating in a research note on Thursday, May 14th. Royal Bank Of Canada upped their target price on Helmerich & Payne from $38.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Finally, Barclays increased their price target on Helmerich & Payne from $39.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $39.70.

Insiders Place Their Bets

In other news, SVP Cara M. Hair sold 58,771 shares of the firm’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $36.62, for a total value of $2,152,194.02. Following the completion of the sale, the senior vice president directly owned 175,589 shares in the company, valued at $6,430,069.18. This trade represents a 25.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 4.40% of the company’s stock.

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.