Pinnacle Associates Ltd. Acquires 93,107 Shares of Helmerich & Payne, Inc. $HP

Pinnacle Associates Ltd. boosted its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 65.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 235,343 shares of the oil and gas company’s stock after buying an additional 93,107 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Helmerich & Payne were worth $6,750,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Allianz Asset Management GmbH boosted its position in Helmerich & Payne by 234.7% during the third quarter. Allianz Asset Management GmbH now owns 383,437 shares of the oil and gas company’s stock valued at $8,470,000 after purchasing an additional 268,882 shares in the last quarter. Fairfax Financial Holdings Ltd. Can grew its stake in Helmerich & Payne by 20.5% in the third quarter. Fairfax Financial Holdings Ltd. Can now owns 1,174,105 shares of the oil and gas company’s stock valued at $25,948,000 after purchasing an additional 200,000 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Helmerich & Payne by 61.5% in the third quarter. Advisors Asset Management Inc. now owns 117,958 shares of the oil and gas company’s stock worth $2,606,000 after purchasing an additional 44,906 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Helmerich & Payne by 398.3% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 47,073 shares of the oil and gas company’s stock valued at $1,040,000 after buying an additional 37,626 shares during the last quarter. Finally, Deprince Race & Zollo Inc. bought a new stake in shares of Helmerich & Payne in the 4th quarter valued at about $23,120,000. Institutional investors own 96.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. TD Cowen boosted their target price on Helmerich & Payne from $35.00 to $38.00 and gave the stock a “hold” rating in a research note on Monday, February 9th. Morgan Stanley increased their price objective on Helmerich & Payne from $35.00 to $39.00 and gave the company an “underweight” rating in a report on Thursday. Piper Sandler raised their price objective on Helmerich & Payne from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 15th. Citigroup lifted their target price on Helmerich & Payne from $33.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, February 11th. Finally, 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. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.50.

Insider Buying and Selling at Helmerich & Payne

In other news, SVP Cara M. Hair sold 58,771 shares of the stock in a transaction dated 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 sale, the senior vice president directly owned 175,589 shares of the company’s stock, valued at $6,430,069.18. This represents a 25.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.40% of the company’s stock.

Helmerich & Payne Price Performance

Shares of NYSE HP opened at $39.33 on Friday. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of -10.38 and a beta of 0.62. Helmerich & Payne, Inc. has a 12 month low of $14.65 and a 12 month high of $41.68. The firm’s 50 day simple moving average is $36.32 and its 200-day simple moving average is $32.49. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 1.32.

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

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be given a $0.25 dividend. The ex-dividend date is Monday, May 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.5%. Helmerich & Payne’s dividend payout ratio is -26.39%.

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.