277,063 Shares in Helmerich & Payne, Inc. $HP Bought by Healthcare of Ontario Pension Plan Trust Fund

Key Points

• Healthcare of Ontario Pension Plan Trust Fund purchased 277,063 Helmerich & Payne shares worth approximately $9.98 million, acquiring a 0.28% stake. Institutional investors collectively own 96.05% of the company.
• Helmerich & Payne reported a quarterly loss of $0.38 per share, missing estimates by $0.32, while revenue fell 8.2% year over year to $932.36 million.
• The company declared a quarterly dividend of $0.25 per share, or $1.00 annualized, representing a 3.0% yield. Analysts have a consensus “Hold” rating and an average price target of $39.80.

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Helmerich & Payne, Inc. (NYSE:HP - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 277,063 shares of the oil and gas company's stock, valued at approximately $9,983,000. Healthcare of Ontario Pension Plan Trust Fund owned about 0.28% of Helmerich & Payne at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Aventail Capital Group LP acquired a new stake in shares of Helmerich & Payne in the 4th quarter valued at approximately $5,464,000. UBS Group AG grew its position in shares of Helmerich & Payne by 17.5% in the 4th quarter. UBS Group AG now owns 1,215,192 shares of the oil and gas company's stock valued at $34,852,000 after acquiring an additional 180,638 shares during the period. Corigliano Investment Advisers LLC bought a new position in shares of Helmerich & Payne in the 4th quarter valued at about $8,573,000. Deprince Race & Zollo Inc. acquired a new position in shares of Helmerich & Payne during the 4th quarter worth about $23,120,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Helmerich & Payne during the 4th quarter worth about $1,522,000. 96.05% of the stock is owned by institutional investors.

Helmerich & Payne Price Performance

Shares of HP opened at $33.19 on Wednesday. The company's 50-day moving average is $35.70 and its 200-day moving average is $35.46. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 1.32. The firm has a market capitalization of $3.32 billion, a PE ratio of -8.76 and a beta of 0.60. Helmerich & Payne, Inc. has a fifty-two week low of $15.17 and a fifty-two week high of $41.82.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) EPS for the quarter, missing the consensus estimate 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 company had revenue of $932.36 million for the quarter, compared to the consensus estimate of $945.60 million. During the same period in the previous year, the firm posted $0.01 EPS. The business's quarterly revenue was down 8.2% on a year-over-year basis. Equities analysts forecast that Helmerich & Payne, Inc. will post -0.11 EPS for the current year.

Helmerich & Payne Dividend Announcement

The business 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. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 annualized dividend and a yield of 3.0%. Helmerich & Payne's dividend payout ratio (DPR) is -26.39%.

Wall Street Analyst Weigh In

HP has been the subject of several recent analyst reports. Weiss Ratings reiterated a "sell (d+)" rating on shares of Helmerich & Payne in a research note on Wednesday, June 24th. The Goldman Sachs Group boosted their price target on Helmerich & Payne from $35.00 to $41.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 3rd. Morgan Stanley restated an "underweight" rating and issued a $36.00 price objective on shares of Helmerich & Payne in a research note on Wednesday, July 15th. Susquehanna cut their price objective on Helmerich & Payne from $43.00 to $40.00 and set a "positive" rating for the company in a research report on Wednesday, July 8th. Finally, Piper Sandler raised their price objective on Helmerich & Payne from $41.00 to $43.00 and gave the company an "overweight" rating in a research report on Monday, May 18th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $39.80.

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.

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