Legal & General Group Plc Lowers Holdings in Helmerich & Payne, Inc. $HP

Legal & General Group Plc lessened its stake in Helmerich & Payne, Inc. (NYSE:HP) by 9.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 244,073 shares of the oil and gas company’s stock after selling 24,168 shares during the quarter. Legal & General Group Plc owned 0.24% of Helmerich & Payne worth $7,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Allianz Asset Management GmbH raised its position in shares of Helmerich & Payne by 234.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 383,437 shares of the oil and gas company’s stock worth $8,470,000 after purchasing an additional 268,882 shares during the last quarter. Fairfax Financial Holdings Ltd. Can raised its position in shares of Helmerich & Payne by 20.5% in the 3rd quarter. Fairfax Financial Holdings Ltd. Can now owns 1,174,105 shares of the oil and gas company’s stock worth $25,948,000 after purchasing an additional 200,000 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Helmerich & Payne by 61.5% in the 3rd 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 during the last quarter. Tcfg Wealth Management LLC raised its position in shares of Helmerich & Payne by 85.9% in the 3rd quarter. Tcfg Wealth Management LLC now owns 93,948 shares of the oil and gas company’s stock worth $2,075,000 after purchasing an additional 43,412 shares during the last quarter. Finally, UBS Group AG raised its position in Helmerich & Payne by 17.5% in the 4th quarter. UBS Group AG now owns 1,215,192 shares of the oil and gas company’s stock worth $34,852,000 after buying an additional 180,638 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on HP shares. Citigroup boosted their target price on Helmerich & Payne from $33.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 11th. 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 report on Monday, February 9th. Evercore upgraded Helmerich & Payne from an “in-line” rating to an “outperform” rating and set a $43.00 price target for the company in a research note on Friday, March 20th. Weiss Ratings restated a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Friday, March 27th. Finally, Royal Bank Of Canada upped their price target on Helmerich & Payne from $38.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $40.60.

Insider Activity

In other news, SVP Cara M. Hair sold 58,771 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.40% of the stock is owned by company insiders.

Helmerich & Payne Stock Down 5.5%

Shares of HP opened at $37.44 on Friday. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of -9.88 and a beta of 0.59. Helmerich & Payne, Inc. has a 1 year low of $15.08 and a 1 year high of $41.82. The business’s 50 day simple moving average is $37.63 and its 200-day simple moving average is $33.89. 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 issued its quarterly earnings data 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). The firm had revenue of $932.36 million for the quarter, compared to analysts’ expectations of $945.60 million. Helmerich & Payne had a negative return on equity of 1.16% and a negative net margin of 9.38%.The firm’s revenue was down 8.2% on a year-over-year basis. During the same period last year, the company earned $0.01 earnings per share. As a group, equities analysts expect that Helmerich & Payne, Inc. will post 0.02 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently disclosed 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. This represents a $1.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, August 18th. Helmerich & Payne’s dividend payout ratio is -26.39%.

Helmerich & Payne 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.