Allspring Global Investments Holdings LLC Purchases 97,388 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Allspring Global Investments Holdings LLC raised its holdings in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 26.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 468,757 shares of the oil and gas company's stock after acquiring an additional 97,388 shares during the period. Allspring Global Investments Holdings LLC owned about 0.47% of Helmerich & Payne worth $12,422,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its holdings in shares of Helmerich & Payne by 104.2% in the first quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company's stock valued at $44,000 after purchasing an additional 867 shares in the last quarter. Covestor Ltd raised its stake in Helmerich & Payne by 61.3% in the fourth quarter. Covestor Ltd now owns 2,386 shares of the oil and gas company's stock valued at $76,000 after buying an additional 907 shares during the period. GAMMA Investing LLC grew its position in shares of Helmerich & Payne by 85.4% in the first quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company's stock valued at $83,000 after purchasing an additional 1,459 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Helmerich & Payne by 82.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,805 shares of the oil and gas company's stock valued at $88,000 after purchasing an additional 1,268 shares during the last quarter. Finally, Sterling Capital Management LLC grew its position in shares of Helmerich & Payne by 817.5% in the fourth quarter. Sterling Capital Management LLC now owns 3,046 shares of the oil and gas company's stock valued at $98,000 after purchasing an additional 2,714 shares during the last quarter. 96.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HP has been the topic of several research reports. Barclays decreased their target price on Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Friday, June 20th. The Goldman Sachs Group decreased their target price on Helmerich & Payne from $25.00 to $17.00 and set a "sell" rating on the stock in a research report on Tuesday, June 24th. JPMorgan Chase & Co. decreased their target price on Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Morgan Stanley decreased their target price on Helmerich & Payne from $27.00 to $20.00 and set an "underweight" rating on the stock in a research report on Friday, May 16th. Finally, TD Cowen decreased their target price on Helmerich & Payne from $28.00 to $26.00 and set a "hold" rating on the stock in a research report on Friday, May 9th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $26.09.

Helmerich & Payne Price Performance

Shares of HP stock traded down $0.11 during trading hours on Friday, reaching $16.45. The company's stock had a trading volume of 1,033,228 shares, compared to its average volume of 1,752,669. The firm's 50 day simple moving average is $17.24 and its 200-day simple moving average is $23.93. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 7.51 and a beta of 0.82. Helmerich & Payne, Inc. has a fifty-two week low of $14.65 and a fifty-two week high of $42.60. The company has a quick ratio of 1.32, a current ratio of 1.68 and a debt-to-equity ratio of 0.73.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued its earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.65 by ($0.63). The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $961.03 million. Helmerich & Payne had a net margin of 7.15% and a return on equity of 8.25%. The company's revenue for the quarter was up 47.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 EPS. Sell-side analysts forecast that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.08%. The ex-dividend date is Friday, August 15th. Helmerich & Payne's payout ratio is 45.66%.

Helmerich & Payne Company 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.