Renaissance Technologies LLC Sells 90,000 Shares of Helmerich & Payne, Inc. $HP

Renaissance Technologies LLC decreased its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 19.1% in the 1st quarter, HoldingsChannel reports. The firm owned 381,100 shares of the oil and gas company’s stock after selling 90,000 shares during the period. Renaissance Technologies LLC’s holdings in Helmerich & Payne were worth $13,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in shares of Helmerich & Payne by 11.0% in the first quarter. Dimensional Fund Advisors LP now owns 5,735,765 shares of the oil and gas company’s stock valued at $206,660,000 after purchasing an additional 570,500 shares during the last quarter. State Street Corp lifted its stake in shares of Helmerich & Payne by 0.8% during the 4th quarter. State Street Corp now owns 4,222,536 shares of the oil and gas company’s stock worth $121,102,000 after buying an additional 33,193 shares during the last quarter. Invesco Ltd. lifted its stake in shares of 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 worth $99,477,000 after buying an additional 465,440 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in shares of Helmerich & Payne by 4.3% during the 3rd quarter. Balyasny Asset Management L.P. now owns 2,132,265 shares of the oil and gas company’s stock worth $47,102,000 after buying an additional 87,882 shares during the last quarter. Finally, Encompass Capital Advisors LLC boosted its holdings in shares of Helmerich & Payne by 165.1% during the 4th quarter. Encompass Capital Advisors LLC now owns 2,081,644 shares of the oil and gas company’s stock worth $59,702,000 after buying an additional 1,296,537 shares during the period. 96.05% of the stock is owned by institutional investors.

Helmerich & Payne Trading Up 2.2%

Shares of Helmerich & Payne stock opened at $34.52 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.32 and a current ratio of 1.71. The firm has a 50-day moving average of $35.33 and a 200-day moving average of $35.49. Helmerich & Payne, Inc. has a 52-week low of $15.17 and a 52-week high of $41.82. The stock has a market cap of $3.45 billion, a PE ratio of -9.11 and a beta of 0.60.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.32). Helmerich & Payne had a negative return on equity of 1.16% and a negative net margin of 9.38%.The business had revenue of $932.36 million for the quarter, compared to the consensus estimate of $945.60 million. During the same period in the prior year, the business posted $0.01 earnings per share. Helmerich & Payne’s revenue was down 8.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Helmerich & Payne, Inc. will post -0.11 EPS for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.00 annualized dividend and a dividend yield of 2.9%. Helmerich & Payne’s dividend payout ratio (DPR) is currently -26.39%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on HP shares. Citigroup decreased their price target on shares of Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, June 29th. Piper Sandler raised their price objective 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. Weiss Ratings restated a “sell (d+)” rating on shares of Helmerich & Payne in a report on Wednesday, June 24th. Royal Bank Of Canada upped their target price on Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, May 8th. Finally, The Goldman Sachs Group increased their target price on Helmerich & Payne from $35.00 to $41.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 3rd. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $39.80.

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.