Helmerich & Payne, Inc. $HP Shares Acquired by Systematic Financial Management LP

Key Points

• Systematic Financial Management LP has increased its stake in Helmerich & Payne, Inc. by 5.9%, acquiring a total of 606,995 shares worth approximately $15.85 million.
• Helmerich & Payne recently reported a quarterly earnings per share of $0.22, exceeding analysts' expectations, while its revenue grew 49.2% compared to the previous year.
• The company announced a quarterly dividend of $0.25 per share, representing a 5.3% dividend yield, with an ex-dividend date of August 15th.

Systematic Financial Management LP increased its stake in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 5.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 606,995 shares of the oil and gas company's stock after acquiring an additional 33,724 shares during the quarter. Systematic Financial Management LP owned approximately 0.61% of Helmerich & Payne worth $15,855,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of HP. Raymond James Financial Inc. acquired a new position in shares of Helmerich & Payne in the 4th quarter worth $2,788,000. First Trust Advisors LP grew its holdings in shares of Helmerich & Payne by 43.3% in the 4th quarter. First Trust Advisors LP now owns 264,688 shares of the oil and gas company's stock worth $8,475,000 after acquiring an additional 80,041 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of Helmerich & Payne by 5.8% during the fourth quarter. MetLife Investment Management LLC now owns 58,993 shares of the oil and gas company's stock valued at $1,889,000 after buying an additional 3,211 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Helmerich & Payne by 120.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,533 shares of the oil and gas company's stock valued at $113,000 after buying an additional 1,932 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Helmerich & Payne by 23.1% during the fourth quarter. Hsbc Holdings PLC now owns 41,213 shares of the oil and gas company's stock valued at $1,324,000 after buying an additional 7,741 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Helmerich & Payne news, CAO Sara Marie Momper sold 6,700 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $17.83, for a total value of $119,461.00. Following the completion of the transaction, the chief accounting officer owned 21,908 shares of the company's stock, valued at $390,619.64. This represents a 23.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.51% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HP. Zacks Research upgraded Helmerich & Payne to a "hold" rating in a report on Monday, August 11th. Piper Sandler lifted their price target on Helmerich & Payne from $20.00 to $21.00 and gave the company a "neutral" rating in a report on Thursday, August 14th. Susquehanna lowered their price target on Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating on the stock in a report on Tuesday, July 1st. The Goldman Sachs Group lowered their price target on Helmerich & Payne from $25.00 to $17.00 and set a "sell" rating on the stock in a report on Tuesday, June 24th. Finally, Wall Street Zen downgraded Helmerich & Payne from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $22.20.

Helmerich & Payne Stock Performance

Shares of NYSE HP opened at $18.8930 on Friday. The business's 50-day moving average price is $16.70 and its two-hundred day moving average price is $20.04. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.43. Helmerich & Payne, Inc. has a one year low of $14.65 and a one year high of $37.46. The company has a market capitalization of $1.88 billion, a P/E ratio of -57.25 and a beta of 0.87.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1 billion. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The business's quarterly revenue was up 49.2% compared to the same quarter last year. Analysts anticipate that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Friday, August 15th. Helmerich & Payne's payout ratio is currently -303.03%.

Helmerich & Payne 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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