53,067 Shares in Helmerich & Payne, Inc. $HP Bought by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd disclosed a new fourth-quarter stake in Helmerich & Payne, buying 53,067 shares valued at about $1.52 million. The firm now owns roughly 0.05% of the oil and gas company.
• Institutional ownership remains heavy, with 96.05% of Helmerich & Payne shares held by hedge funds and other institutional investors. Several funds increased their positions significantly, while others initiated new stakes.
• Analysts are mixed on HP: recent reports included upgrades and higher price targets, but the overall consensus remains Hold with an average target price of $40.60. The company also reported a weaker-than-expected quarter, missing EPS and revenue estimates.

Dynamic Technology Lab Private Ltd acquired a new position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 53,067 shares of the oil and gas company's stock, valued at approximately $1,522,000. Dynamic Technology Lab Private Ltd owned approximately 0.05% of Helmerich & Payne at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of HP. Balyasny Asset Management L.P. raised its holdings in shares of Helmerich & Payne by 174.1% during the second quarter. Balyasny Asset Management L.P. now owns 2,044,383 shares of the oil and gas company's stock worth $30,993,000 after acquiring an additional 1,298,510 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Helmerich & Payne by 316.9% during the third quarter. Ameriprise Financial Inc. now owns 1,218,057 shares of the oil and gas company's stock worth $26,907,000 after acquiring an additional 925,921 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new stake in shares of Helmerich & Payne during the fourth quarter worth $23,120,000. Bridgeway Capital Management LLC purchased a new stake in shares of Helmerich & Payne during the second quarter worth $7,841,000. Finally, Millennium Management LLC raised its holdings in shares of Helmerich & Payne by 439.3% during the third quarter. Millennium Management LLC now owns 614,884 shares of the oil and gas company's stock worth $13,583,000 after acquiring an additional 500,863 shares in the last quarter. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HP has been the subject of several recent research reports. Piper Sandler increased their price objective on Helmerich & Payne from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Monday, May 18th. Evercore upgraded Helmerich & Payne from an "in-line" rating to an "outperform" rating and set a $43.00 target price on the stock in a report on Friday, March 20th. Weiss Ratings restated a "sell (d+)" rating on shares of Helmerich & Payne in a report on Friday, March 27th. Barclays raised their target price on Helmerich & Payne from $39.00 to $47.00 and gave the company an "overweight" rating in a report on Friday, May 8th. Finally, The Goldman Sachs Group raised their target price on Helmerich & Payne from $35.00 to $41.00 and gave the company a "neutral" rating in a report on Wednesday, June 3rd. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Helmerich & Payne has an average rating of "Hold" and an average target price of $40.60.

Insider Activity

In other news, SVP Cara M. Hair sold 58,771 shares of the firm's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $36.62, for a total value of $2,152,194.02. Following the sale, the senior vice president directly owned 175,589 shares of the company's stock, valued at approximately $6,430,069.18. This trade represents a 25.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.40% of the company's stock.

Helmerich & Payne Trading Up 0.1%

Shares of NYSE:HP opened at $39.24 on Friday. The company has a market cap of $3.92 billion, a P/E ratio of -10.35 and a beta of 0.59. The stock's 50-day moving average is $37.94 and its 200-day moving average is $34.32. Helmerich & Payne, Inc. has a 52-week low of $15.08 and a 52-week high of $41.82. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.32 and a current ratio of 1.71.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.32). The business had revenue of $932.36 million during the quarter, compared to analyst estimates of $945.60 million. Helmerich & Payne had a negative net margin of 9.38% and a negative return on equity of 1.16%. The company's revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.01 earnings per share. Equities research analysts predict that Helmerich & Payne, Inc. will post -0.02 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 18th. Helmerich & Payne's dividend payout ratio (DPR) is currently -26.39%.

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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