Helmerich & Payne, Inc. (NYSE:HP) Shares Purchased by Crestline Management LP

Crestline Management LP grew its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 221.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,792 shares of the oil and gas company’s stock after purchasing an additional 20,520 shares during the quarter. Crestline Management LP’s holdings in Helmerich & Payne were worth $954,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Kestra Investment Management LLC acquired a new stake in shares of Helmerich & Payne during the fourth quarter worth about $27,000. Covestor Ltd lifted its stake in shares of Helmerich & Payne by 61.3% in the fourth quarter. Covestor Ltd now owns 2,386 shares of the oil and gas company’s stock valued at $76,000 after purchasing an additional 907 shares during the period. Steph & Co. acquired a new position in Helmerich & Payne during the fourth quarter worth about $87,000. Smartleaf Asset Management LLC increased its holdings in Helmerich & Payne by 82.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,805 shares of the oil and gas company’s stock valued at $88,000 after buying an additional 1,268 shares in the last quarter. Finally, Sterling Capital Management LLC lifted its position in shares of Helmerich & Payne by 817.5% during the 4th quarter. Sterling Capital Management LLC now owns 3,046 shares of the oil and gas company’s stock valued at $98,000 after acquiring an additional 2,714 shares during the period. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on HP shares. The Goldman Sachs Group reduced their price objective on Helmerich & Payne from $32.00 to $25.00 and set a “sell” rating for the company in a report on Thursday, April 10th. Morgan Stanley reissued an “underweight” rating and issued a $27.00 price objective on shares of Helmerich & Payne in a research note on Thursday, March 27th. StockNews.com downgraded shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a report on Friday. Evercore ISI reaffirmed an “in-line” rating and issued a $39.00 price target (down previously from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. Finally, TD Cowen dropped their price objective on shares of Helmerich & Payne from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Friday. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $31.20.

Helmerich & Payne Price Performance

Helmerich & Payne stock opened at $18.28 on Friday. Helmerich & Payne, Inc. has a 1 year low of $17.60 and a 1 year high of $42.60. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81. The firm has a 50 day moving average price of $22.20 and a 200 day moving average price of $28.87. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 6.01, a PEG ratio of 3.52 and a beta of 0.93.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.63). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $961.03 million. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. Helmerich & Payne’s revenue was up 47.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 EPS. Sell-side analysts predict that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date of this dividend is Thursday, May 15th. Helmerich & Payne’s dividend payout ratio is presently 32.89%.

Insider Activity at Helmerich & Payne

In other news, Director Belgacem Chariag acquired 37,356 shares of the business’s stock in a transaction on Monday, February 10th. The shares were purchased at an average price of $27.08 per share, for a total transaction of $1,011,600.48. Following the acquisition, the director now directly owns 54,606 shares of the company’s stock, valued at $1,478,730.48. This represents a 216.56 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John W. Lindsay purchased 20,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average price of $27.55 per share, for a total transaction of $551,000.00. Following the purchase, the chief executive officer now owns 691,214 shares of the company’s stock, valued at approximately $19,042,945.70. This represents a 2.98 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 4.51% of the company’s stock.

Helmerich & Payne Profile

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.