Deprince Race & Zollo Inc. Invests $23.12 Million in Helmerich & Payne, Inc. $HP

Key Points

• Deprince Race & Zollo Inc. opened a new position in Helmerich & Payne (NYSE:HP) in Q4, buying 806,151 shares worth about $23.12 million, roughly a 0.82% stake in the company.
• Helmerich & Payne reported Q results with ($0.15) EPS (missing estimates) while revenue of $1.02B beat forecasts and rose 50.2% year‑over‑year, and the company declared a quarterly dividend of $0.25 (annualized $1.00, yield 2.9%; ex‑dividend May 18).
• Institutional investors own about 96.05% of the stock and insiders 4.40%; analysts are mixed (average rating "Hold", consensus target $37) while the stock trades with a market cap near $3.46 billion and a negative P/E of -10.87.

Deprince Race & Zollo Inc. acquired a new position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 806,151 shares of the oil and gas company's stock, valued at approximately $23,120,000. Deprince Race & Zollo Inc. owned approximately 0.82% of Helmerich & Payne at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. American Century Companies Inc. grew its holdings in shares of Helmerich & Payne by 7.7% during the third quarter. American Century Companies Inc. now owns 3,474,036 shares of the oil and gas company's stock worth $76,741,000 after purchasing an additional 249,425 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Helmerich & Payne by 1.5% during the third quarter. Invesco Ltd. now owns 3,003,086 shares of the oil and gas company's stock worth $66,338,000 after purchasing an additional 43,158 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Helmerich & Payne by 4.3% during the third quarter. Balyasny Asset Management L.P. now owns 2,132,265 shares of the oil and gas company's stock worth $47,102,000 after purchasing an additional 87,882 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Helmerich & Payne by 22.9% during the second quarter. The Manufacturers Life Insurance Company now owns 1,720,505 shares of the oil and gas company's stock worth $26,083,000 after purchasing an additional 321,004 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Helmerich & Payne by 17.6% during the third quarter. Van ECK Associates Corp now owns 1,550,279 shares of the oil and gas company's stock worth $34,246,000 after purchasing an additional 231,737 shares in the last quarter. Hedge funds and other institutional investors own 96.05% of the company's stock.

Helmerich & Payne Stock Performance

NYSE:HP opened at $34.68 on Monday. The business has a 50 day moving average of $35.07 and a 200 day moving average of $30.28. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of -10.87 and a beta of 0.55. Helmerich & Payne, Inc. has a 1-year low of $14.65 and a 1-year high of $37.87. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.03 and a quick ratio of 1.58.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its earnings results on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of $0.12 by ($0.27). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $990.16 million. Helmerich & Payne had a positive return on equity of 0.28% and a negative net margin of 7.71%.The business's quarterly revenue was up 50.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 EPS. On average, sell-side analysts predict that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be given a $0.25 dividend. The ex-dividend date is Monday, May 18th. This represents a $1.00 annualized dividend and a yield of 2.9%. Helmerich & Payne's payout ratio is presently -31.35%.

Insiders Place Their Bets

In other Helmerich & Payne news, SVP Cara M. Hair sold 58,771 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the senior vice president owned 175,589 shares in the company, valued at approximately $6,430,069.18. The trade was 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. Insiders own 4.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Barclays boosted their price objective on Helmerich & Payne from $36.00 to $39.00 and gave the stock an "overweight" rating in a report on Tuesday, February 10th. Susquehanna boosted their target price on Helmerich & Payne from $40.00 to $42.00 and gave the stock a "positive" rating in a research report on Tuesday, April 7th. The Goldman Sachs Group restated a "neutral" rating and issued a $32.00 target price on shares of Helmerich & Payne in a research report on Wednesday, January 14th. Weiss Ratings restated a "sell (d+)" rating on shares of Helmerich & Payne in a research report on Friday, March 27th. Finally, Royal Bank Of Canada boosted their target price on Helmerich & Payne from $34.00 to $36.00 and gave the stock a "sector perform" rating in a research report on Friday, February 6th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $37.00.

Helmerich & Payne 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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