Helmerich & Payne, Inc. (NYSE:HP) Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 58.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 138,675 shares of the oil and gas company’s stock after buying an additional 50,980 shares during the period. Russell Investments Group Ltd.’s holdings in Helmerich & Payne were worth $5,023,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Gilliland Jeter Wealth Management LLC acquired a new stake in Helmerich & Payne in the fourth quarter worth approximately $246,000. State of New Jersey Common Pension Fund D lifted its position in Helmerich & Payne by 11.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 68,807 shares of the oil and gas company’s stock worth $2,492,000 after purchasing an additional 7,012 shares during the period. GAMMA Investing LLC acquired a new stake in Helmerich & Payne in the fourth quarter worth approximately $73,000. Illinois Municipal Retirement Fund lifted its position in Helmerich & Payne by 8.1% in the fourth quarter. Illinois Municipal Retirement Fund now owns 60,219 shares of the oil and gas company’s stock worth $2,181,000 after purchasing an additional 4,487 shares during the period. Finally, Wedge Capital Management L L P NC lifted its position in Helmerich & Payne by 66.5% in the fourth quarter. Wedge Capital Management L L P NC now owns 197,672 shares of the oil and gas company’s stock worth $7,160,000 after purchasing an additional 78,983 shares during the period. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HP has been the subject of a number of research analyst reports. Citigroup upped their target price on Helmerich & Payne from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Susquehanna dropped their price target on Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating on the stock in a report on Friday, April 26th. The Goldman Sachs Group dropped their price target on Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating on the stock in a report on Friday, January 12th. Royal Bank of Canada upped their price target on Helmerich & Payne from $46.00 to $48.00 and gave the company a “sector perform” rating in a report on Wednesday, January 31st. Finally, Piper Sandler dropped their price target on Helmerich & Payne from $44.00 to $39.00 and set a “neutral” rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $42.00.

Insider Activity

In other news, SVP Cara M. Hair sold 9,910 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $40.22, for a total transaction of $398,580.20. Following the transaction, the senior vice president now directly owns 137,764 shares in the company, valued at approximately $5,540,868.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Mark W. Smith sold 16,000 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $40.49, for a total value of $647,840.00. Following the completion of the sale, the chief financial officer now directly owns 144,870 shares in the company, valued at $5,865,786.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Cara M. Hair sold 9,910 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $40.22, for a total transaction of $398,580.20. Following the completion of the sale, the senior vice president now owns 137,764 shares of the company’s stock, valued at $5,540,868.08. The disclosure for this sale can be found here. 4.38% of the stock is currently owned by corporate insiders.

Helmerich & Payne Price Performance

Shares of NYSE:HP opened at $39.28 on Friday. The company’s fifty day moving average is $40.80 and its two-hundred day moving average is $38.46. The company has a quick ratio of 1.92, a current ratio of 2.16 and a debt-to-equity ratio of 0.19. Helmerich & Payne, Inc. has a 12-month low of $30.41 and a 12-month high of $46.55. The company has a market cap of $3.88 billion, a P/E ratio of 11.22, a price-to-earnings-growth ratio of 1.85 and a beta of 1.51.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Thursday, April 25th. The oil and gas company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.01). Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The firm had revenue of $687.94 million for the quarter, compared to analyst estimates of $682.51 million. During the same period last year, the firm earned $1.26 earnings per share. Helmerich & Payne’s revenue for the quarter was down 10.6% compared to the same quarter last year. Equities analysts expect that Helmerich & Payne, Inc. will post 3.56 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 Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend is Thursday, May 16th. Helmerich & Payne’s dividend payout ratio is currently 28.57%.

Helmerich & Payne Profile

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.