Helmerich & Payne, Inc. $HP is Encompass Capital Advisors LLC’s 9th Largest Position

Encompass Capital Advisors LLC grew its position in Helmerich & Payne, Inc. (NYSE:HP) by 165.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,081,644 shares of the oil and gas company’s stock after purchasing an additional 1,296,537 shares during the period. Helmerich & Payne makes up 2.4% of Encompass Capital Advisors LLC’s holdings, making the stock its 9th biggest position. Encompass Capital Advisors LLC’s holdings in Helmerich & Payne were worth $59,702,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HP. Balyasny Asset Management L.P. increased its position in Helmerich & Payne by 174.1% during the 2nd quarter. Balyasny Asset Management L.P. now owns 2,044,383 shares of the oil and gas company’s stock worth $30,993,000 after purchasing an additional 1,298,510 shares in the last quarter. Ameriprise Financial Inc. increased its position in Helmerich & Payne by 316.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,218,057 shares of the oil and gas company’s stock worth $26,907,000 after purchasing an additional 925,921 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new stake in Helmerich & Payne during the 4th quarter worth about $23,120,000. Bridgeway Capital Management LLC purchased a new stake in Helmerich & Payne during the 2nd quarter worth about $7,841,000. Finally, Mariner LLC increased its position in Helmerich & Payne by 2,231.1% during the 4th quarter. Mariner LLC now owns 530,546 shares of the oil and gas company’s stock worth $15,216,000 after purchasing an additional 507,787 shares in the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Down 1.6%

Shares of NYSE:HP opened at $35.78 on Thursday. The stock’s 50-day moving average price is $38.04 and its two-hundred day moving average price is $34.55. The company has a current ratio of 1.71, a quick ratio of 1.32 and a debt-to-equity ratio of 0.71. Helmerich & Payne, Inc. has a 12-month low of $15.08 and a 12-month high of $41.82. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of -9.44 and a beta of 0.59.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.32). Helmerich & Payne had a negative return on equity of 1.16% and a negative net margin of 9.38%.The business had revenue of $932.36 million during the quarter, compared to analyst estimates of $945.60 million. During the same period in the previous year, the business posted $0.01 earnings per share. The firm’s quarterly revenue was down 8.2% on a year-over-year basis. On average, research analysts forecast that Helmerich & Payne, Inc. will post -0.02 EPS for the current year.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, August 18th. Helmerich & Payne’s dividend payout ratio (DPR) is presently -26.39%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Morgan Stanley lifted their price objective on Helmerich & Payne from $35.00 to $39.00 and gave the stock an “underweight” rating in a research report on Thursday, May 14th. Susquehanna lifted their price objective on Helmerich & Payne from $42.00 to $43.00 and gave the stock a “positive” rating in a research report on Friday, May 8th. The Goldman Sachs Group lifted their price objective on Helmerich & Payne from $35.00 to $41.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 3rd. Evercore upgraded Helmerich & Payne from an “in-line” rating to an “outperform” rating and set a $43.00 price objective for the company in a research report on Friday, March 20th. Finally, Piper Sandler lifted their price objective on Helmerich & Payne from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $40.60.

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.