Hsbc Holdings PLC Acquires New Stake in Helmerich & Payne, Inc. $HP

Hsbc Holdings PLC bought a new position in shares of Helmerich & Payne, Inc. (NYSE:HP) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 217,907 shares of the oil and gas company’s stock, valued at approximately $7,206,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Helmerich & Payne during the 2nd quarter valued at $513,336,000. Dimensional Fund Advisors LP increased its position in shares of Helmerich & Payne by 11.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,735,765 shares of the oil and gas company’s stock valued at $206,660,000 after purchasing an additional 570,500 shares during the period. State Street Corp raised its stake in shares of Helmerich & Payne by 0.8% in the 4th quarter. State Street Corp now owns 4,222,536 shares of the oil and gas company’s stock worth $121,102,000 after buying an additional 33,193 shares in the last quarter. Invesco Ltd. raised its stake in shares of Helmerich & Payne by 15.5% in the 4th quarter. Invesco Ltd. now owns 3,468,526 shares of the oil and gas company’s stock worth $99,477,000 after buying an additional 465,440 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in shares of Helmerich & Payne by 4.3% in the 3rd quarter. Balyasny Asset Management L.P. now owns 2,132,265 shares of the oil and gas company’s stock worth $47,102,000 after buying an additional 87,882 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Helmerich & Payne

In other news, SVP Cara M. Hair sold 11,149 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $44.27, for a total value of $493,566.23. Following the completion of the sale, the senior vice president owned 136,095 shares of the company’s stock, valued at $6,024,925.65. This trade represents a 7.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Sara Marie Momper sold 5,054 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $44.28, for a total value of $223,791.12. Following the completion of the sale, the chief accounting officer directly owned 16,958 shares of the company’s stock, valued at approximately $750,900.24. This trade represents a 22.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 110,673 shares of company stock valued at $4,864,590 in the last three months. 4.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on HP shares. Susquehanna raised their target price on Helmerich & Payne from $40.00 to $44.00 and gave the company a “positive” rating in a research note on Friday, August 7th. Piper Sandler boosted 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. Morgan Stanley upped their price target on shares of Helmerich & Payne from $36.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, August 20th. Royal Bank Of Canada raised their price objective on shares of 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, The Goldman Sachs Group lifted their price objective on shares of Helmerich & Payne from $35.00 to $41.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 3rd. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $41.00.

Helmerich & Payne Stock Performance

Helmerich & Payne stock opened at $42.51 on Friday. The firm’s 50 day simple moving average is $36.51 and its 200-day simple moving average is $36.59. The company has a market cap of $4.25 billion, a P/E ratio of -30.15 and a beta of 0.61. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.96 and a quick ratio of 1.55. Helmerich & Payne, Inc. has a fifty-two week low of $19.50 and a fifty-two week high of $45.00.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $987.70 million. Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.22 EPS. As a group, equities research analysts predict that Helmerich & Payne, Inc. will post -0.16 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.4%. The ex-dividend date is Tuesday, August 18th. Helmerich & Payne’s payout ratio is presently -70.92%.

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.