Louisiana State Employees Retirement System Purchases New Holdings in Helmerich & Payne, Inc. $HP

Louisiana State Employees Retirement System acquired a new position in Helmerich & Payne, Inc. (NYSE:HP) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 44,300 shares of the oil and gas company’s stock, valued at approximately $1,596,000.

Several other institutional investors also recently modified their holdings of HP. William B. Walkup & Associates Inc. raised its stake in shares of Helmerich & Payne by 1.0% in the first quarter. William B. Walkup & Associates Inc. now owns 35,241 shares of the oil and gas company’s stock valued at $1,270,000 after purchasing an additional 355 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Helmerich & Payne by 1.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 22,761 shares of the oil and gas company’s stock worth $653,000 after buying an additional 400 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in Helmerich & Payne by 24.3% in the 4th quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock valued at $65,000 after buying an additional 445 shares during the period. Cerity Partners LLC raised its stake in shares of Helmerich & Payne by 2.6% in the 4th quarter. Cerity Partners LLC now owns 19,339 shares of the oil and gas company’s stock valued at $555,000 after buying an additional 498 shares in the last quarter. Finally, KLCM Advisors Inc. lifted its holdings in shares of Helmerich & Payne by 5.5% during the 4th quarter. KLCM Advisors Inc. now owns 10,550 shares of the oil and gas company’s stock worth $303,000 after acquiring an additional 550 shares during the period. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Price Performance

Helmerich & Payne stock opened at $30.80 on Thursday. The business’s fifty day moving average is $37.85 and its two-hundred day moving average is $34.85. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.32 and a current ratio of 1.71. The firm has a market cap of $3.08 billion, a P/E ratio of -8.13 and a beta of 0.60. Helmerich & Payne, Inc. has a 52 week low of $15.17 and a 52 week high of $41.82.

Helmerich & Payne (NYSE:HP) last released 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). The business had revenue of $932.36 million during the quarter, compared to the consensus estimate of $945.60 million. Helmerich & Payne had a negative net margin of 9.38% and a negative return on equity of 1.16%. The business’s quarterly revenue was down 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.01 earnings per share. Equities research analysts forecast that Helmerich & Payne, Inc. will post -0.02 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, August 18th. Helmerich & Payne’s dividend payout ratio is -26.39%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Piper Sandler increased their price target on shares of Helmerich & Payne from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. The Goldman Sachs Group increased their target price on Helmerich & Payne from $35.00 to $41.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Weiss Ratings restated a “sell (d+)” rating on shares of Helmerich & Payne in a research report on Wednesday, June 24th. Royal Bank Of Canada upped their price target 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. Finally, Evercore raised Helmerich & Payne from an “in-line” rating to an “outperform” rating and set a $43.00 price objective for the company in a report on Friday, March 20th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Helmerich & Payne currently has an average rating of “Hold” and a consensus target price of $40.40.

About Helmerich & Payne

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.