Kornitzer Capital Management Inc. KS Has $9.60 Million Stake in Helmerich & Payne, Inc. $HP

Key Points

• Kornitzer Capital Management trimmed its stake by 7.9% but still holds 334,765 shares (about $9.60 million), representing roughly 0.33% of Helmerich & Payne.
• Analysts have mostly raised price targets, but consensus remains a "Hold" with an average target of $37.80, while the stock trades around $40.45 near its 52‑week high.
• Helmerich & Payne missed EPS for the quarter (‑$0.15 vs. $0.12 expected) though revenue rose ~50%, and the company announced a quarterly dividend of $0.25 (2.5% yield) with an ex‑dividend date of May 18.

Kornitzer Capital Management Inc. KS trimmed its position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 7.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 334,765 shares of the oil and gas company's stock after selling 28,634 shares during the period. Kornitzer Capital Management Inc. KS owned 0.33% of Helmerich & Payne worth $9,601,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. UBS Group AG increased its holdings in Helmerich & Payne by 17.5% during the fourth quarter. UBS Group AG now owns 1,215,192 shares of the oil and gas company's stock worth $34,852,000 after buying an additional 180,638 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Helmerich & Payne by 10.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,347 shares of the oil and gas company's stock worth $727,000 after buying an additional 2,331 shares during the last quarter. Bayforest Capital Ltd acquired a new position in Helmerich & Payne during the fourth quarter worth $371,000. Abbington Investment Group acquired a new position in Helmerich & Payne during the fourth quarter worth $1,610,000. Finally, Farther Finance Advisors LLC increased its holdings in Helmerich & Payne by 12.8% during the fourth quarter. Farther Finance Advisors LLC now owns 10,546 shares of the oil and gas company's stock worth $302,000 after buying an additional 1,194 shares during the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on HP shares. Piper Sandler upped their price objective on shares of Helmerich & Payne from $40.00 to $41.00 and gave the company an "overweight" rating in a report on Wednesday, April 15th. Citigroup upped their price objective on shares of Helmerich & Payne from $33.00 to $38.00 and gave the company a "neutral" rating in a report on Wednesday, February 11th. TD Cowen upped their price objective on shares of Helmerich & Payne from $35.00 to $38.00 and gave the company a "hold" rating in a report on Monday, February 9th. Susquehanna upped their price objective on shares of Helmerich & Payne from $40.00 to $42.00 and gave the company a "positive" rating in a report on Tuesday, April 7th. Finally, Morgan Stanley upped their price objective on shares of Helmerich & Payne from $30.00 to $35.00 and gave the company an "underweight" rating in a report on Wednesday, April 15th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $37.80.

Helmerich & Payne Trading Up 0.2%

Shares of Helmerich & Payne stock opened at $40.45 on Friday. Helmerich & Payne, Inc. has a 52-week low of $14.65 and a 52-week high of $41.14. The firm has a 50-day moving average of $35.66 and a 200-day moving average of $31.52. 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 $4.04 billion, a PE ratio of -12.68 and a beta of 0.62.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its quarterly earnings data 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). Helmerich & Payne had a positive return on equity of 0.28% and a negative net margin of 7.71%.The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $990.16 million. During the same period in the prior year, the company earned $0.71 EPS. The company's revenue for the quarter was up 50.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Helmerich & Payne, Inc. will post 0.12 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.00 annualized dividend and a yield of 2.5%. Helmerich & Payne's dividend payout ratio is currently -31.35%.

Insiders Place Their Bets

In related news, SVP Cara M. Hair sold 58,771 shares of the company's stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $36.62, for a total transaction of $2,152,194.02. Following the completion of the sale, the senior vice president owned 175,589 shares of the company's stock, valued at $6,430,069.18. This represents a 25.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.40% of the stock is 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.

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