Hsbc Holdings PLC Has $7.21 Million Holdings in Helmerich & Payne, Inc. $HP

Hsbc Holdings PLC grew its position in Helmerich & Payne, Inc. (NYSE:HP) by 289.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 217,907 shares of the oil and gas company’s stock after purchasing an additional 161,920 shares during the quarter. Hsbc Holdings PLC owned about 0.22% of Helmerich & Payne worth $7,206,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Helmerich & Payne in the 2nd quarter valued at $513,336,000. Dimensional Fund Advisors LP lifted its holdings in shares of Helmerich & Payne by 11.0% during the first quarter. Dimensional Fund Advisors LP now owns 5,735,765 shares of the oil and gas company’s stock worth $206,660,000 after buying an additional 570,500 shares in the last quarter. State Street Corp boosted its position in shares of Helmerich & Payne by 0.8% in the fourth quarter. State Street Corp now owns 4,222,536 shares of the oil and gas company’s stock valued at $121,102,000 after acquiring an additional 33,193 shares during the period. Invesco Ltd. boosted its position in shares of Helmerich & Payne by 15.5% in the fourth 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 during the period. Finally, Balyasny Asset Management L.P. grew its stake in shares of Helmerich & Payne by 4.3% in the third quarter. Balyasny Asset Management L.P. now owns 2,132,265 shares of the oil and gas company’s stock valued at $47,102,000 after acquiring an additional 87,882 shares in the last quarter. 96.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Sara Momper sold 5,054 shares of the stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $44.28, for a total transaction of $223,791.12. Following the completion of the transaction, the chief accounting officer owned 16,958 shares in the company, valued at approximately $750,900.24. This represents a 22.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Cara Hair sold 11,149 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $44.27, for a total transaction of $493,566.23. Following the sale, the senior vice president owned 136,095 shares of the company’s stock, valued at approximately $6,024,925.65. The trade was a 7.57% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 110,673 shares of company stock valued at $4,864,590. 4.40% of the stock is owned by insiders.

Helmerich & Payne Stock Up 1.1%

Helmerich & Payne stock opened at $44.21 on Thursday. The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 0.69. Helmerich & Payne, Inc. has a 12-month low of $19.91 and a 12-month high of $48.17. The firm’s fifty day moving average is $38.32 and its 200 day moving average is $37.21. The company has a market capitalization of $4.42 billion, a PE ratio of -31.35 and a beta of 0.66.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $987.70 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts predict that Helmerich & Payne, Inc. will post -0.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wall Street Zen upgraded Helmerich & Payne from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Morgan Stanley increased their price target on Helmerich & Payne from $36.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, August 20th. The Goldman Sachs Group raised their price target on shares of Helmerich & Payne from $35.00 to $41.00 and gave the company a “neutral” rating in a research note on Wednesday, June 3rd. Piper Sandler upped their target price on Helmerich & Payne from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, May 18th. Finally, Susquehanna boosted their price target on shares of Helmerich & Payne from $40.00 to $44.00 and gave the stock a “positive” rating in a research report on Friday, August 7th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Helmerich & Payne presently has an average rating of “Hold” and a consensus target price of $42.20.

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.