Intech Investment Management LLC Has $1.19 Million Position in Helmerich & Payne, Inc. $HP

Key Points

• Intech Investment Management cut its Helmerich & Payne stake by 40.6% in the fourth quarter, selling 28,449 shares and leaving it with 41,593 shares worth about $1.19 million.
• Helmerich & Payne reported a Q4 earnings miss, posting EPS of -$0.38 versus the expected -$0.06, while revenue of $932.36 million also came in below estimates and fell 8.2% year over year.
• The company declared a quarterly dividend of $0.25 per share, equal to an annualized yield of about 2.7%, even as analysts currently hold a consensus rating of “Hold” with an average target price of $40.60.

Intech Investment Management LLC lowered its position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 40.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,593 shares of the oil and gas company's stock after selling 28,449 shares during the quarter. Intech Investment Management LLC's holdings in Helmerich & Payne were worth $1,193,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund grew its holdings in Helmerich & Payne by 1.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 22,761 shares of the oil and gas company's stock valued at $653,000 after purchasing an additional 400 shares during the period. Arizona State Retirement System grew its holdings in Helmerich & Payne by 1.4% during the third quarter. Arizona State Retirement System now owns 29,418 shares of the oil and gas company's stock valued at $650,000 after purchasing an additional 416 shares during the period. Smartleaf Asset Management LLC grew its holdings in Helmerich & Payne by 21.3% during the third quarter. Smartleaf Asset Management LLC now owns 2,487 shares of the oil and gas company's stock valued at $55,000 after purchasing an additional 437 shares during the period. Hantz Financial Services Inc. grew its holdings in 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 valued at $65,000 after purchasing an additional 445 shares during the period. Finally, KLCM Advisors Inc. grew its holdings in Helmerich & Payne by 5.5% during the fourth quarter. KLCM Advisors Inc. now owns 10,550 shares of the oil and gas company's stock valued at $303,000 after purchasing an additional 550 shares during the period. Institutional investors and hedge funds own 96.05% of the company's stock.

Helmerich & Payne Stock Performance

Shares of HP opened at $37.44 on Friday. 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 $15.08 and a twelve month high of $41.82. The firm's 50 day moving average price is $37.63 and its two-hundred day moving average price is $33.89. The firm has a market cap of $3.74 billion, a P/E ratio of -9.88 and a beta of 0.59.

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

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.7%. Helmerich & Payne's payout ratio is presently -26.39%.

Insiders Place Their Bets

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 shares were sold at an average price of $36.62, for a total value of $2,152,194.02. Following the transaction, the senior vice president owned 175,589 shares of the company's stock, valued at approximately $6,430,069.18. The trade was a 25.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.40% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on HP shares. Evercore upgraded shares of Helmerich & Payne from an "in-line" rating to an "outperform" rating and set a $43.00 price objective for the company in a report on Friday, March 20th. Weiss Ratings restated a "sell (d+)" rating on shares of Helmerich & Payne in a report on Friday, March 27th. Morgan Stanley boosted their price objective on shares of Helmerich & Payne from $35.00 to $39.00 and gave the company an "underweight" rating in a report on Thursday, May 14th. The Goldman Sachs Group boosted their price objective on shares of Helmerich & Payne from $35.00 to $41.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, Piper Sandler boosted their price objective on shares of Helmerich & Payne from $41.00 to $43.00 and gave the company an "overweight" rating in a report on Monday, May 18th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $40.60.

About Helmerich & Payne

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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