Helmerich & Payne, Inc. $HP Stake Boosted by Allianz Asset Management GmbH

Allianz Asset Management GmbH boosted its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 234.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 383,437 shares of the oil and gas company’s stock after buying an additional 268,882 shares during the period. Allianz Asset Management GmbH owned about 0.39% of Helmerich & Payne worth $8,470,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in HP. American Century Companies Inc. lifted its position in shares of Helmerich & Payne by 8.1% in the 2nd quarter. American Century Companies Inc. now owns 3,224,611 shares of the oil and gas company’s stock valued at $48,885,000 after acquiring an additional 240,771 shares in the last quarter. Invesco Ltd. raised its stake in Helmerich & Payne by 9.5% during the 2nd quarter. Invesco Ltd. now owns 2,959,928 shares of the oil and gas company’s stock valued at $44,873,000 after purchasing an additional 255,794 shares during the period. Balyasny Asset Management L.P. raised its stake 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 valued at $30,993,000 after purchasing an additional 1,298,510 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Helmerich & Payne by 22.9% in the second quarter. The Manufacturers Life Insurance Company now owns 1,720,505 shares of the oil and gas company’s stock valued at $26,083,000 after purchasing an additional 321,004 shares in the last quarter. Finally, Fairfax Financial Holdings Ltd. Can boosted its position in shares of Helmerich & Payne by 25.8% in the second quarter. Fairfax Financial Holdings Ltd. Can now owns 974,105 shares of the oil and gas company’s stock worth $14,767,000 after buying an additional 200,000 shares during the period. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on HP shares. TD Cowen upped their price target on Helmerich & Payne from $35.00 to $38.00 and gave the company a “hold” rating in a research report on Monday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Monday, December 29th. Royal Bank Of Canada increased their price target on shares of Helmerich & Payne from $34.00 to $36.00 and gave the stock a “sector perform” rating in a research report on Friday. The Goldman Sachs Group restated a “neutral” rating and set a $32.00 price target on shares of Helmerich & Payne in a report on Wednesday, January 14th. Finally, Evercore boosted their price objective on shares of Helmerich & Payne from $20.00 to $27.00 and gave the company an “in-line” rating in a research report on Wednesday, November 19th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $34.64.

Helmerich & Payne Price Performance

Shares of NYSE:HP opened at $35.72 on Tuesday. Helmerich & Payne, Inc. has a fifty-two week low of $14.65 and a fifty-two week high of $36.73. The business has a 50-day moving average of $30.97 and a two-hundred day moving average of $25.30. The stock has a market capitalization of $3.57 billion, a P/E ratio of -11.20 and a beta of 0.57. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.03 and a quick ratio of 1.58.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Wednesday, February 4th. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.27). Helmerich & Payne had a negative net margin of 7.71% and a positive return on equity of 0.28%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $990.16 million. During the same period in the prior year, the company posted $0.71 EPS. The business’s revenue was up 50.2% on a year-over-year basis. On average, equities research analysts predict that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, February 13th. Helmerich & Payne’s dividend payout ratio (DPR) is -31.35%.

Insider Activity at Helmerich & Payne

In other news, Director Hans Helmerich sold 75,000 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $28.12, for a total value of $2,109,000.00. Following the completion of the sale, the director directly owned 496,735 shares in the company, valued at approximately $13,968,188.20. The trade was a 13.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

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.