Helmerich & Payne, Inc. $HP Position Reduced by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC reduced its stake in Helmerich & Payne, Inc. by 46.5%, holding 22,055 shares valued at $571,000 as of the latest SEC filing.
• Other institutional investors have modified their positions, with Tower Research Capital increasing their stake by 120.7% in the fourth quarter.
• Helmerich & Payne recently announced a quarterly dividend of $0.25, representing an annualized yield of 4.8%, despite a negative dividend payout ratio of -303.03%.

Hsbc Holdings PLC lowered its stake in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 46.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 22,055 shares of the oil and gas company's stock after selling 19,158 shares during the period. Hsbc Holdings PLC's holdings in Helmerich & Payne were worth $571,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC grew its stake 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 purchasing an additional 1,932 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Helmerich & Payne by 9.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 79,755 shares of the oil and gas company's stock worth $2,554,000 after buying an additional 6,936 shares during the last quarter. Northern Trust Corp grew its position in shares of Helmerich & Payne by 5.1% in the 4th quarter. Northern Trust Corp now owns 1,699,388 shares of the oil and gas company's stock worth $54,414,000 after acquiring an additional 82,254 shares in the last quarter. Gallagher Fiduciary Advisors LLC bought a new stake in shares of Helmerich & Payne in the 4th quarter valued at approximately $231,000. Finally, AXA S.A. raised its position in shares of Helmerich & Payne by 0.9% during the 4th quarter. AXA S.A. now owns 138,821 shares of the oil and gas company's stock valued at $4,445,000 after acquiring an additional 1,205 shares in the last quarter. Institutional investors and hedge funds own 96.05% of the company's stock.

Insider Transactions at Helmerich & Payne

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

Helmerich & Payne Stock Performance

HP opened at $20.92 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.43 and a debt-to-equity ratio of 0.76. The business's 50 day moving average is $16.92 and its 200-day moving average is $19.63. The stock has a market cap of $2.08 billion, a PE ratio of -63.41 and a beta of 0.94. Helmerich & Payne, Inc. has a twelve month low of $14.65 and a twelve month high of $37.46.

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

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.00 annualized dividend and a yield of 4.8%. Helmerich & Payne's dividend payout ratio is presently -303.03%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HP. Susquehanna lowered their target price on shares of Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating for the company in a research note on Tuesday, July 1st. Citigroup reaffirmed a "neutral" rating and set a $17.00 price objective (down previously from $19.00) on shares of Helmerich & Payne in a research report on Thursday, June 26th. Barclays cut their target price on shares of Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating on the stock in a report on Friday, June 20th. Piper Sandler upped their target price on Helmerich & Payne from $20.00 to $21.00 and gave the company a "neutral" rating in a report on Thursday, August 14th. Finally, Wall Street Zen cut Helmerich & Payne from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Helmerich & Payne presently has a consensus rating of "Reduce" and a consensus price target of $22.20.

Helmerich & Payne Company Profile

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.

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