Fifth Third Bancorp Has $2.36 Million Stake in Helmerich & Payne, Inc. $HP

Key Points

• Fifth Third Bancorp boosted its stake in Helmerich & Payne by 288.4% in the first quarter, ending with 65,386 shares worth about $2.36 million.
• Helmerich & Payne shares were up 2.7% to $34.59, giving the company a market value of about $3.46 billion.
• The company recently reported weaker-than-expected earnings, with a quarterly loss of $0.38 per share versus an expected loss of $0.06, while revenue also came in slightly below estimates.

Fifth Third Bancorp raised its holdings in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 288.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 65,386 shares of the oil and gas company's stock after buying an additional 48,551 shares during the period. Fifth Third Bancorp owned 0.07% of Helmerich & Payne worth $2,356,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of HP. EverSource Wealth Advisors LLC increased its holdings in Helmerich & Payne by 2,433.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company's stock worth $25,000 after buying an additional 1,582 shares during the last quarter. Leonteq Securities AG bought a new stake in shares of Helmerich & Payne during the 4th quarter worth about $26,000. Parallel Advisors LLC raised its holdings in Helmerich & Payne by 407.1% in the 3rd quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company's stock valued at $49,000 after acquiring an additional 1,787 shares during the period. Hantz Financial Services Inc. increased its stake in shares of Helmerich & Payne by 24.3% during the fourth quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company's stock worth $65,000 after purchasing an additional 445 shares during the period. Finally, Strs Ohio acquired a new stake in shares of Helmerich & Payne during the first quarter worth $101,000. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Helmerich & Payne Trading Up 2.7%

Shares of HP stock opened at $34.59 on Wednesday. The firm has a market capitalization of $3.46 billion, a P/E ratio of -9.13 and a beta of 0.60. The company has a quick ratio of 1.32, a current ratio of 1.71 and a debt-to-equity ratio of 0.71. The stock's fifty day simple moving average is $36.25 and its 200 day simple moving average is $35.31. Helmerich & Payne, Inc. has a twelve month low of $15.17 and a twelve month high of $41.82.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.32). The business had revenue of $932.36 million for the quarter, compared to the consensus estimate of $945.60 million. Helmerich & Payne had a negative return on equity of 1.16% and a negative net margin of 9.38%.The company's revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.01 earnings per share. As a group, sell-side analysts predict that Helmerich & Payne, Inc. will post -0.12 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, August 18th. Helmerich & Payne's dividend payout ratio (DPR) is -26.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on HP shares. Citigroup dropped their price target on shares of Helmerich & Payne from $38.00 to $36.00 and set a "neutral" rating for the company in a research report on Monday, June 29th. Barclays boosted their price target on Helmerich & Payne from $39.00 to $47.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Morgan Stanley reiterated an "underweight" rating and set a $36.00 price objective on shares of Helmerich & Payne in a research note on Wednesday, July 15th. Royal Bank Of Canada increased their price objective on shares of Helmerich & Payne from $38.00 to $40.00 and gave the stock a "sector perform" rating in a research note on Friday, May 8th. Finally, Susquehanna dropped their target price on shares of Helmerich & Payne from $43.00 to $40.00 and set a "positive" rating for the company in a research report on Wednesday, July 8th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $39.80.

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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