Wellington Management Group LLP Raises Position in Helmerich & Payne, Inc. (NYSE:HP)

Wellington Management Group LLP grew its position in Helmerich & Payne, Inc. (NYSE:HP) by 11.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,004,518 shares of the oil and gas company’s stock after acquiring an additional 106,491 shares during the period. Wellington Management Group LLP owned about 1.02% of Helmerich & Payne worth $36,384,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in HP. Principal Securities Inc. purchased a new stake in shares of Helmerich & Payne in the fourth quarter valued at about $35,000. Creekmur Asset Management LLC acquired a new stake in shares of Helmerich & Payne in the fourth quarter valued at about $60,000. GAMMA Investing LLC acquired a new stake in shares of Helmerich & Payne in the fourth quarter valued at about $73,000. Neo Ivy Capital Management acquired a new stake in shares of Helmerich & Payne in the fourth quarter valued at about $176,000. Finally, Quadrant Capital Group LLC lifted its stake in shares of Helmerich & Payne by 12.7% in the fourth quarter. Quadrant Capital Group LLC now owns 5,548 shares of the oil and gas company’s stock valued at $201,000 after purchasing an additional 625 shares during the period. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Insider Transactions at Helmerich & Payne

In other news, SVP Cara M. Hair sold 9,910 shares of Helmerich & Payne stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $40.22, for a total transaction of $398,580.20. Following the completion of the sale, the senior vice president now directly owns 137,764 shares in the company, valued at $5,540,868.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Mark W. Smith sold 16,000 shares of the business’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 directly owns 144,870 shares in the company, valued at $5,865,786.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Cara M. Hair sold 9,910 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $40.22, for a total transaction of $398,580.20. Following the completion of the sale, the senior vice president now owns 137,764 shares of the company’s stock, valued at $5,540,868.08. The disclosure for this sale can be found here. Insiders own 4.38% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on HP. Piper Sandler reduced their price objective on shares of Helmerich & Payne from $44.00 to $39.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, April 25th. Citigroup lifted their target price on shares of Helmerich & Payne from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Finally, Susquehanna cut their target price on shares of Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating for the company in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $42.00.

Helmerich & Payne Stock Performance

Shares of NYSE HP opened at $33.98 on Monday. The company has a market cap of $3.35 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 3.73 and a beta of 1.47. Helmerich & Payne, Inc. has a 12 month low of $32.17 and a 12 month high of $46.55. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 1.92. The company has a 50-day simple moving average of $37.75 and a 200-day simple moving average of $38.02.

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

Helmerich & Payne Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.94%. Helmerich & Payne’s dividend payout ratio (DPR) is presently 28.57%.

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.