Grantham Mayo Van Otterloo & Co. LLC Buys Shares of 246,800 Helmerich & Payne, Inc. $HP

Key Points

• Grantham Mayo Van Otterloo & Co. LLC opened a new position of 246,800 shares in Helmerich & Payne during Q3, valued at about $5.45 million and representing roughly 0.25% of the company.
• Helmerich & Payne reported Q results with EPS of ($0.15) versus $0.12 expected (a miss), while revenue was $1.02 billion—beating estimates and rising 50.2% year-over-year.
• The firm declared a $0.25 quarterly dividend (annualized $1.00, yield 2.9%, ex-dividend May 18), and a director sold 75,000 shares; institutional investors own about 96% of the stock while insiders hold roughly 4.4%.

Grantham Mayo Van Otterloo & Co. LLC purchased a new position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 246,800 shares of the oil and gas company's stock, valued at approximately $5,452,000. Grantham Mayo Van Otterloo & Co. LLC owned about 0.25% of Helmerich & Payne at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of HP. First Trust Advisors LP grew its position in Helmerich & Payne by 44.2% in the 3rd quarter. First Trust Advisors LP now owns 273,613 shares of the oil and gas company's stock valued at $6,044,000 after buying an additional 83,907 shares during the last quarter. Orion Porfolio Solutions LLC raised its position in Helmerich & Payne by 4.5% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 19,362 shares of the oil and gas company's stock worth $428,000 after buying an additional 839 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Helmerich & Payne by 7.7% in the 3rd quarter. American Century Companies Inc. now owns 3,474,036 shares of the oil and gas company's stock worth $76,741,000 after acquiring an additional 249,425 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Helmerich & Payne in the 3rd quarter worth $499,000. Finally, Cozad Asset Management Inc. boosted its holdings in shares of Helmerich & Payne by 1.3% in the third quarter. Cozad Asset Management Inc. now owns 50,013 shares of the oil and gas company's stock valued at $1,105,000 after acquiring an additional 623 shares in the last quarter. 96.05% of the stock is owned by institutional investors and hedge funds.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $34.36 on Tuesday. The stock has a fifty day moving average price of $33.17 and a 200 day moving average price of $27.75. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.58 and a current ratio of 2.03. The stock has a market cap of $3.43 billion, a PE ratio of -10.77 and a beta of 0.54. Helmerich & Payne, Inc. has a 1 year low of $14.65 and a 1 year high of $36.73.

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

Helmerich & Payne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.9%. The ex-dividend date is Monday, May 18th. Helmerich & Payne's dividend payout ratio (DPR) is -31.35%.

Insiders Place Their Bets

In other Helmerich & Payne news, Director Hans Helmerich sold 75,000 shares of Helmerich & Payne stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $28.12, for a total transaction of $2,109,000.00. Following the completion of the transaction, the director owned 496,735 shares in the company, valued at approximately $13,968,188.20. The trade was a 13.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on HP shares. Piper Sandler boosted their price target on shares of Helmerich & Payne from $35.00 to $40.00 and gave the stock an "overweight" rating in a research note on Monday, February 9th. Morgan Stanley reaffirmed an "underweight" rating and issued a $28.00 price objective on shares of Helmerich & Payne in a report on Wednesday, January 21st. Evercore set a $37.00 target price on Helmerich & Payne in a research report on Friday, February 6th. Citigroup increased their target price on Helmerich & Payne from $33.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 11th. Finally, TD Cowen raised 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. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $36.20.

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.

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