55,987 Shares in Helmerich & Payne, Inc. $HP Acquired by Hsbc Holdings PLC

Key Points

• HSBC Holdings acquired 55,987 Helmerich & Payne shares worth approximately $2.01 million, while institutional investors collectively own 96.05% of the company.
• Analyst sentiment remains mixed, with five Buy, five Hold, and two Sell ratings; the average price target is $39.80 versus the stock’s $35.29 opening price.
• Helmerich & Payne reported a quarterly loss of $0.38 per share, missing estimates, as revenue fell 8.2% year over year. The company maintained a quarterly dividend of $0.25 per share, yielding about 2.8% annually.

Hsbc Holdings PLC acquired a new position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 55,987 shares of the oil and gas company's stock, valued at approximately $2,011,000. Hsbc Holdings PLC owned 0.06% of Helmerich & Payne as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Royal Bank of Canada grew its position in shares of Helmerich & Payne by 4.4% during the 1st quarter. Royal Bank of Canada now owns 104,180 shares of the oil and gas company's stock worth $2,721,000 after buying an additional 4,394 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Helmerich & Payne by 6.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,630 shares of the oil and gas company's stock valued at $1,531,000 after buying an additional 3,611 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Helmerich & Payne by 39,685.1% in the first quarter. NewEdge Advisors LLC now owns 34,613 shares of the oil and gas company's stock valued at $904,000 after acquiring an additional 34,526 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Helmerich & Payne by 9.9% in the first quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company's stock valued at $247,000 after acquiring an additional 852 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Helmerich & Payne by 34.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,445 shares of the oil and gas company's stock worth $5,575,000 after acquiring an additional 54,758 shares during the period. 96.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on HP shares. Morgan Stanley reiterated an "underweight" rating and set a $36.00 target price on shares of Helmerich & Payne in a report on Wednesday, July 15th. Barclays boosted their price target on shares of Helmerich & Payne from $39.00 to $47.00 and gave the company an "overweight" rating in a report on Friday, May 8th. Piper Sandler upped 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. Royal Bank Of Canada increased 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 note 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 company a "neutral" rating in a report on Wednesday, June 3rd. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $39.80.

Helmerich & Payne Stock Down 0.1%

NYSE:HP opened at $35.29 on Monday. The company has a market cap of $3.53 billion, a PE ratio of -9.31 and a beta of 0.60. Helmerich & Payne, Inc. has a twelve month low of $15.17 and a twelve month high of $41.82. The company has a current ratio of 1.71, a quick ratio of 1.32 and a debt-to-equity ratio of 0.71. The company's 50 day moving average is $36.02 and its two-hundred day moving average is $35.43.

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 analysts' consensus estimates of ($0.06) by ($0.32). The company had revenue of $932.36 million for 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 quarter in the previous year, the company posted $0.01 EPS. Analysts anticipate that Helmerich & Payne, Inc. will post -0.11 EPS for the current year.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.8%. Helmerich & Payne's payout ratio is -26.39%.

Helmerich & Payne Company 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.

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