Goldman Sachs Group Inc. Raises Position in Helmerich & Payne, Inc. (NYSE:HP)

Goldman Sachs Group Inc. lifted its stake in Helmerich & Payne, Inc. (NYSE:HP) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 979,230 shares of the oil and gas company’s stock after buying an additional 21,291 shares during the period. Goldman Sachs Group Inc. owned approximately 0.99% of Helmerich & Payne worth $35,468,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in shares of Helmerich & Payne by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,181,316 shares of the oil and gas company’s stock worth $187,668,000 after buying an additional 19,622 shares during the period. Earnest Partners LLC boosted its holdings in Helmerich & Payne by 4.0% in the third quarter. Earnest Partners LLC now owns 2,929,498 shares of the oil and gas company’s stock valued at $123,508,000 after purchasing an additional 113,735 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Helmerich & Payne by 130.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,720,464 shares of the oil and gas company’s stock valued at $98,535,000 after purchasing an additional 1,541,987 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Helmerich & Payne by 8.7% in the fourth quarter. Victory Capital Management Inc. now owns 2,628,685 shares of the oil and gas company’s stock valued at $95,211,000 after purchasing an additional 210,321 shares during the last quarter. Finally, Boston Trust Walden Corp boosted its holdings in Helmerich & Payne by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 2,214,742 shares of the oil and gas company’s stock valued at $80,218,000 after purchasing an additional 34,863 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Up 0.3 %

Shares of Helmerich & Payne stock opened at $33.94 on Friday. The company has a current ratio of 2.16, a quick ratio of 1.92 and a debt-to-equity ratio of 0.19. The business’s 50 day simple moving average is $37.75 and its 200-day simple moving average is $37.98. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 9.70, a PEG ratio of 3.68 and a beta of 1.47. Helmerich & Payne, Inc. has a twelve month low of $32.17 and a twelve month high of $46.55.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01). The company had revenue of $687.94 million for the quarter, compared to analyst estimates of $682.51 million. Helmerich & Payne had a return on equity of 13.21% and a net margin of 12.84%. The firm’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 earnings per share. Equities research analysts forecast that Helmerich & Payne, Inc. will post 3.46 earnings per share for the current year.

Helmerich & Payne Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Friday, August 16th. Helmerich & Payne’s payout ratio is 28.57%.

Analyst Upgrades and Downgrades

HP has been the subject of a number of analyst reports. Piper Sandler reduced their price target on Helmerich & Payne from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a report on Thursday, April 25th. Citigroup increased their price target on Helmerich & Payne from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Finally, Susquehanna reduced their target price on Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating on the stock in a report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Helmerich & Payne presently has an average rating of “Hold” and a consensus target price of $42.00.

Insider Transactions at Helmerich & Payne

In related news, SVP Cara M. Hair sold 9,910 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $40.22, for a total value of $398,580.20. Following the sale, the senior vice president now directly owns 137,764 shares in the company, valued at approximately $5,540,868.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Cara M. Hair sold 9,910 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $40.22, for a total value of $398,580.20. Following the sale, the senior vice president now directly owns 137,764 shares in the company, valued at approximately $5,540,868.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark W. Smith sold 16,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $40.49, for a total value of $647,840.00. Following the completion of the sale, the chief financial officer now owns 144,870 shares in the company, valued at $5,865,786.30. The disclosure for this sale can be found here. Insiders own 4.38% of the company’s stock.

About Helmerich & Payne

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.