Kornitzer Capital Management Inc. KS Sells 28,634 Shares of Helmerich & Payne, Inc. $HP

Kornitzer Capital Management Inc. KS lowered its stake in Helmerich & Payne, Inc. (NYSE:HP) by 7.9% in the fourth quarter, Holdings Channel reports. The fund owned 334,765 shares of the oil and gas company’s stock after selling 28,634 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Helmerich & Payne were worth $9,601,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. New York State Teachers Retirement System lifted its holdings in shares of Helmerich & Payne by 0.4% in the third quarter. New York State Teachers Retirement System now owns 99,710 shares of the oil and gas company’s stock worth $2,203,000 after acquiring an additional 400 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Helmerich & Payne by 1.4% in the third quarter. Arizona State Retirement System now owns 29,418 shares of the oil and gas company’s stock worth $650,000 after acquiring an additional 416 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Helmerich & Payne by 21.3% in the third quarter. Smartleaf Asset Management LLC now owns 2,487 shares of the oil and gas company’s stock worth $55,000 after acquiring an additional 437 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Helmerich & Payne by 1.7% in the third quarter. Amalgamated Bank now owns 28,813 shares of the oil and gas company’s stock worth $636,000 after acquiring an additional 475 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Helmerich & Payne by 46.5% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,745 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 554 shares during the last quarter. Institutional investors own 96.05% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on HP shares. Citigroup increased their target price on shares of Helmerich & Payne from $33.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, February 11th. Morgan Stanley raised their price objective on shares of Helmerich & Payne from $30.00 to $35.00 and gave the company an “underweight” rating in a report on Wednesday, April 15th. Susquehanna raised their price objective on shares of Helmerich & Payne from $40.00 to $42.00 and gave the company a “positive” rating in a report on Tuesday, April 7th. Barclays raised their price objective on shares of Helmerich & Payne from $36.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, February 10th. Finally, Piper Sandler raised their price objective on shares of Helmerich & Payne from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Wednesday, April 15th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.80.

Helmerich & Payne Stock Up 0.2%

Shares of NYSE HP opened at $40.45 on Friday. The company has a 50 day simple moving average of $35.66 and a 200 day simple moving average of $31.52. The firm has a market cap of $4.04 billion, a PE ratio of -12.68 and a beta of 0.62. Helmerich & Payne, Inc. has a 1 year low of $14.65 and a 1 year high of $41.14. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.03 and a quick ratio of 1.58.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.27). The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $990.16 million. Helmerich & Payne had a negative net margin of 7.71% and a positive return on equity of 0.28%. The business’s revenue for the quarter was up 50.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 EPS. On average, research analysts forecast that Helmerich & Payne, Inc. will post 0.12 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be given 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 of this dividend is Monday, May 18th. Helmerich & Payne’s dividend payout ratio is currently -31.35%.

Insiders Place Their Bets

In other Helmerich & Payne news, SVP Cara M. Hair sold 58,771 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $36.62, for a total transaction of $2,152,194.02. Following the completion of the sale, the senior vice president owned 175,589 shares of the company’s stock, valued at approximately $6,430,069.18. This represents a 25.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate 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.