Helmerich & Payne, Inc. $HP Holdings Trimmed by Grace & White Inc. NY

Grace & White Inc. NY reduced its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 14.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 101,725 shares of the oil and gas company’s stock after selling 17,400 shares during the period. Grace & White Inc. NY’s holdings in Helmerich & Payne were worth $3,665,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Louisiana State Employees Retirement System purchased a new position in shares of Helmerich & Payne during the first quarter valued at $1,596,000. William B. Walkup & Associates Inc. lifted its stake in Helmerich & Payne by 1.0% in the 1st quarter. William B. Walkup & Associates Inc. now owns 35,241 shares of the oil and gas company’s stock worth $1,270,000 after acquiring an additional 355 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Helmerich & Payne by 18.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 7,840 shares of the oil and gas company’s stock worth $225,000 after acquiring an additional 1,200 shares in the last quarter. Dean Capital Management boosted its position in Helmerich & Payne by 7.5% during the 4th quarter. Dean Capital Management now owns 144,195 shares of the oil and gas company’s stock worth $4,136,000 after acquiring an additional 10,036 shares during the period. Finally, Invesco Ltd. grew its stake in Helmerich & Payne by 15.5% during the 4th quarter. Invesco Ltd. now owns 3,468,526 shares of the oil and gas company’s stock valued at $99,477,000 after acquiring an additional 465,440 shares in the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Performance

Shares of NYSE HP opened at $33.70 on Friday. 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, Inc. has a one year low of $15.08 and a one year high of $41.82. The business’s 50-day moving average price is $37.95 and its two-hundred day moving average price is $34.77. The company has a market capitalization of $3.37 billion, a P/E ratio of -8.89 and a beta of 0.59.

Helmerich & Payne (NYSE:HP) last posted its quarterly 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 firm had revenue of $932.36 million for the quarter, compared to analysts’ expectations of $945.60 million. Helmerich & Payne had a negative return on equity of 1.16% and a negative net margin of 9.38%.The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period last year, the business earned $0.01 earnings per share. Analysts anticipate that Helmerich & Payne, Inc. will post -0.02 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

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 $0.25 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 3.0%. Helmerich & Payne’s dividend payout ratio is currently -26.39%.

Analysts Set New Price Targets

HP has been the topic of a number of research reports. Barclays upped their target price on Helmerich & Payne from $39.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Morgan Stanley raised their price target on shares of Helmerich & Payne from $35.00 to $39.00 and gave the stock an “underweight” rating in a report on Thursday, May 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Helmerich & Payne in a research report on Wednesday. Susquehanna upped their price objective on shares of Helmerich & Payne from $42.00 to $43.00 and gave the company a “positive” rating in a research note on Friday, May 8th. Finally, Piper Sandler increased their target price on shares of Helmerich & Payne from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Helmerich & Payne has an average rating of “Hold” and an average target price of $40.60.

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.