Fisher Asset Management LLC Has $49.65 Million Stake in Helmerich & Payne, Inc. $HP

Key Points

• Fisher Asset Management increased its stake in Helmerich & Payne by 1.5% in the fourth quarter, ending with 1.73 million shares valued at about $49.65 million.
• Helmerich & Payne reported a weaker-than-expected quarterly result, posting EPS of -$0.38 versus estimates of -$0.06 and revenue of $932.36 million, down 8.2% year over year.
• The company declared a quarterly dividend of $0.25 per share and said shares are up 1.1% recently, while analysts currently rate the stock a consensus Hold with an average target price of $39.70.

Fisher Asset Management LLC grew its position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,731,208 shares of the oil and gas company's stock after buying an additional 25,085 shares during the quarter. Fisher Asset Management LLC owned approximately 1.73% of Helmerich & Payne worth $49,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in HP. Royal Bank of Canada lifted its holdings 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 valued at $2,721,000 after buying an additional 4,394 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Helmerich & Payne by 6.6% during the 1st 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 last quarter. NewEdge Advisors LLC lifted its holdings in shares of Helmerich & Payne by 39,685.1% during the 1st quarter. NewEdge Advisors LLC now owns 34,613 shares of the oil and gas company's stock valued at $904,000 after buying an additional 34,526 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Helmerich & Payne by 9.9% during the 1st quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company's stock valued at $247,000 after buying an additional 852 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Helmerich & Payne by 34.5% during the 1st 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 valued at $5,575,000 after buying an additional 54,758 shares during the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Helmerich & Payne Stock Up 1.1%

Shares of HP stock opened at $40.30 on Wednesday. The stock's 50 day simple moving average is $37.25 and its 200 day simple moving average is $33.29. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.32 and a current ratio of 1.71. Helmerich & Payne, Inc. has a twelve month low of $15.03 and a twelve month high of $41.82. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of -10.63 and a beta of 0.62.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $932.36 million during the quarter, compared to the consensus estimate of $945.60 million. Helmerich & Payne had a negative net margin of 9.38% and a negative return on equity of 1.16%. The firm's revenue was down 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 earnings per share. As a group, research analysts predict that Helmerich & Payne, Inc. will post 0.02 EPS for the current year.

Helmerich & Payne Announces Dividend

The firm also recently declared 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. This represents a $1.00 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, May 18th. Helmerich & Payne's payout ratio is currently -26.39%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on HP shares. Barclays lifted their price target on Helmerich & Payne from $39.00 to $47.00 and gave the company an "overweight" rating in a report on Friday, May 8th. Morgan Stanley lifted their price target on Helmerich & Payne from $35.00 to $39.00 and gave the company an "underweight" rating in a report on Thursday, May 14th. TD Cowen lifted their price target on Helmerich & Payne from $35.00 to $38.00 and gave the company a "hold" rating in a report on Monday, February 9th. Evercore raised Helmerich & Payne from an "in-line" rating to an "outperform" rating and set a $43.00 price objective on the stock in a research note on Friday, March 20th. Finally, Royal Bank Of Canada raised their price objective on Helmerich & Payne from $38.00 to $40.00 and gave the company a "sector perform" rating in a research note on Friday, May 8th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $39.70.

Insider Buying and Selling

In other Helmerich & Payne news, SVP Cara M. Hair sold 58,771 shares of Helmerich & Payne 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 transaction, the senior vice president directly owned 175,589 shares of the company's stock, valued at $6,430,069.18. The trade was a 25.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.40% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.