Canada Pension Plan Investment Board Reduces Stock Position in Helmerich & Payne, Inc. $HP

Key Points

• The Canada Pension Plan Investment Board reduced its stake in Helmerich & Payne, Inc. by 49.6%, now holding 85,600 shares valued at approximately $2.24 million.
• Several other institutional investors, including Ellis Investment Partners LLC and Xponance Inc., have increased their holdings, indicating a strong institutional interest in the company.
• Helmerich & Payne reported a 49.2% increase in quarterly revenue year-over-year, alongside earnings of $0.22 per share, exceeding analysts' estimates.

Canada Pension Plan Investment Board decreased its stake in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 49.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,600 shares of the oil and gas company's stock after selling 84,400 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.09% of Helmerich & Payne worth $2,236,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of HP. Tower Research Capital LLC TRC increased its position in Helmerich & Payne by 120.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,533 shares of the oil and gas company's stock worth $113,000 after buying an additional 1,932 shares in the last quarter. Northern Trust Corp increased its position in Helmerich & Payne by 5.1% in the fourth quarter. Northern Trust Corp now owns 1,699,388 shares of the oil and gas company's stock worth $54,414,000 after buying an additional 82,254 shares in the last quarter. AXA S.A. increased its position in Helmerich & Payne by 0.9% in the fourth quarter. AXA S.A. now owns 138,821 shares of the oil and gas company's stock worth $4,445,000 after buying an additional 1,205 shares in the last quarter. Bank of America Corp DE grew its position in shares of Helmerich & Payne by 542.9% during the fourth quarter. Bank of America Corp DE now owns 523,047 shares of the oil and gas company's stock worth $16,748,000 after purchasing an additional 441,688 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in shares of Helmerich & Payne by 32.5% during the fourth quarter. Cetera Investment Advisers now owns 19,114 shares of the oil and gas company's stock worth $612,000 after purchasing an additional 4,692 shares in the last quarter. Hedge funds and other institutional investors own 96.05% of the company's stock.

Insider Buying and Selling

In other Helmerich & Payne news, CAO Sara Marie Momper sold 6,700 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $17.83, for a total transaction of $119,461.00. Following the transaction, the chief accounting officer directly owned 21,908 shares in the company, valued at $390,619.64. This trade represents a 23.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.51% of the stock is owned by insiders.

Helmerich & Payne Price Performance

NYSE HP traded up $0.83 during trading on Wednesday, hitting $20.85. 1,598,376 shares of the stock traded hands, compared to its average volume of 1,822,669. The company has a market capitalization of $2.07 billion, a P/E ratio of -63.17 and a beta of 0.95. The firm has a 50-day simple moving average of $17.67 and a 200-day simple moving average of $19.40. The company has a quick ratio of 1.43, a current ratio of 1.84 and a debt-to-equity ratio of 0.76. Helmerich & Payne, Inc. has a 12-month low of $14.65 and a 12-month high of $37.46.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1 billion. Helmerich & Payne had a positive return on equity of 5.81% and a negative net margin of 0.90%.The company's revenue for the quarter was up 49.2% on a year-over-year basis. During the same period last year, the company earned $0.92 EPS. As a group, analysts predict that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Tuesday, November 18th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.8%. The ex-dividend date is Tuesday, November 18th. Helmerich & Payne's dividend payout ratio (DPR) is presently -303.03%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on HP shares. Piper Sandler increased their target price on Helmerich & Payne from $20.00 to $21.00 and gave the stock a "neutral" rating in a research report on Thursday, August 14th. Wall Street Zen cut Helmerich & Payne from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. The Goldman Sachs Group cut their target price on Helmerich & Payne from $25.00 to $17.00 and set a "sell" rating for the company in a research report on Tuesday, June 24th. Barclays cut their target price on Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating for the company in a research report on Friday, June 20th. Finally, JPMorgan Chase & Co. cut their target price on Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $22.20.

About Helmerich & Payne

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.