Helmerich & Payne, Inc. (NYSE:HP) Shares Acquired by ARGA Investment Management LP

ARGA Investment Management LP lifted its position in Helmerich & Payne, Inc. (NYSE:HP) by 497.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 887,116 shares of the oil and gas company’s stock after acquiring an additional 738,594 shares during the period. Helmerich & Payne makes up 1.1% of ARGA Investment Management LP’s portfolio, making the stock its 24th largest position. ARGA Investment Management LP’s holdings in Helmerich & Payne were worth $32,131,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings 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 valued at $187,668,000 after purchasing an additional 19,622 shares during the last quarter. Earnest Partners LLC increased its stake in shares of Helmerich & Payne by 4.0% in the 3rd quarter. Earnest Partners LLC now owns 2,929,498 shares of the oil and gas company’s stock worth $123,508,000 after acquiring an additional 113,735 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Helmerich & Payne by 130.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,720,464 shares of the oil and gas company’s stock worth $98,535,000 after acquiring an additional 1,541,987 shares during the period. Victory Capital Management Inc. grew its holdings in shares of 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 period. Finally, Boston Trust Walden Corp raised its stake in Helmerich & Payne by 1.6% during the fourth quarter. Boston Trust Walden Corp now owns 2,214,742 shares of the oil and gas company’s stock worth $80,218,000 after purchasing an additional 34,863 shares during the period. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HP has been the topic of several analyst reports. Citigroup lifted their price target on shares of Helmerich & Payne from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Susquehanna decreased their target price on shares of Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating on the stock in a research report on Friday, April 26th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, April 25th. Piper Sandler lowered their price target on Helmerich & Payne from $44.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Finally, Royal Bank of Canada lifted their price target on shares of Helmerich & Payne from $46.00 to $48.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 31st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $42.00.

Insider Transactions at Helmerich & Payne

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

Helmerich & Payne Price Performance

Shares of NYSE:HP traded down $0.29 on Thursday, reaching $38.21. 874,316 shares of the company were exchanged, compared to its average volume of 1,270,600. The company has a current ratio of 2.16, a quick ratio of 1.92 and a debt-to-equity ratio of 0.19. Helmerich & Payne, Inc. has a 1-year low of $30.69 and a 1-year high of $46.55. The company has a 50-day moving average of $40.81 and a 200-day moving average of $38.41. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 1.87 and a beta of 1.51.

Helmerich & Payne (NYSE:HP) last announced its 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). Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The company had revenue of $687.94 million for the quarter, compared to analyst estimates of $682.51 million. During the same quarter last year, the company posted $1.26 EPS. Helmerich & Payne’s quarterly revenue was down 10.6% compared to the same quarter last year. Equities analysts forecast that Helmerich & Payne, Inc. will post 3.56 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, May 16th. This represents a $1.68 dividend on an annualized basis and a yield of 4.40%. Helmerich & Payne’s dividend payout ratio (DPR) is currently 28.57%.

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.