Man Group plc Invests $1.65 Million in Helmerich & Payne, Inc. $HP

Key Points

• Man Group acquired a new 50,467-share stake in Helmerich & Payne valued at approximately $1.65 million, while institutional investors collectively own 96.05% of the company.
• Helmerich & Payne shares rose 6.2% to $46.27, near their 52-week high of $46.53, despite the company reporting a quarterly EPS loss of $0.11 that missed analyst expectations.
• Insiders sold more than 110,000 shares worth $4.86 million over the past 90 days. Analysts maintain an overall “Hold” consensus with an average price target of $41.00.

Man Group plc acquired a new stake in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 50,467 shares of the oil and gas company's stock, valued at approximately $1,652,000. Man Group plc owned approximately 0.05% of Helmerich & Payne as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. William B. Walkup & Associates Inc. lifted its holdings in Helmerich & Payne by 1.0% during the first quarter. William B. Walkup & Associates Inc. now owns 35,241 shares of the oil and gas company's stock worth $1,270,000 after buying an additional 355 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Helmerich & Payne by 1.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 22,761 shares of the oil and gas company's stock valued at $653,000 after acquiring an additional 400 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in shares of Helmerich & Payne by 24.3% in the 4th quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company's stock valued at $65,000 after acquiring an additional 445 shares during the period. Cerity Partners LLC increased its holdings in shares of Helmerich & Payne by 2.6% in the 4th quarter. Cerity Partners LLC now owns 19,339 shares of the oil and gas company's stock valued at $555,000 after acquiring an additional 498 shares during the period. Finally, KLCM Advisors Inc. raised its position in shares of Helmerich & Payne by 5.5% in the 4th quarter. KLCM Advisors Inc. now owns 10,550 shares of the oil and gas company's stock worth $303,000 after acquiring an additional 550 shares in the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.

Helmerich & Payne Stock Up 6.2%

Helmerich & Payne stock opened at $46.27 on Wednesday. Helmerich & Payne, Inc. has a 1-year low of $19.50 and a 1-year high of $46.53. The business has a fifty day moving average price of $36.88 and a 200-day moving average price of $36.75. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.96 and a quick ratio of 1.55. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of -32.82 and a beta of 0.65.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.20). The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $987.70 million. Helmerich & Payne had a negative net margin of 3.43% and a negative return on equity of 2.35%. The company's quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company earned $0.22 earnings per share. Equities research analysts forecast that Helmerich & Payne, Inc. will post -0.18 EPS for the current fiscal year.

Insider Activity

In related news, Director Hans Helmerich sold 94,470 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $43.90, for a total value of $4,147,233.00. Following the completion of the transaction, the director directly owned 20,000 shares of the company's stock, valued at $878,000. This trade represents a 82.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Cara M. Hair sold 11,149 shares of Helmerich & Payne stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $44.27, for a total transaction of $493,566.23. Following the completion of the sale, the senior vice president owned 136,095 shares of the company's stock, valued at $6,024,925.65. This trade represents a 7.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 110,673 shares of company stock worth $4,864,590 over the last 90 days. 4.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

HP has been the topic of a number of recent research reports. Weiss Ratings downgraded Helmerich & Payne from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, August 27th. Wall Street Zen upgraded shares of Helmerich & Payne from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Royal Bank Of Canada increased their price target on shares of Helmerich & Payne from $38.00 to $40.00 and gave the company a "sector perform" rating in a research report on Friday, May 8th. Morgan Stanley raised their price target on shares of Helmerich & Payne from $36.00 to $41.00 and gave the company an "underweight" rating in a report on Thursday, August 20th. Finally, Susquehanna lifted their price objective on shares of Helmerich & Payne from $40.00 to $44.00 and gave the stock a "positive" rating in a research report on Friday, August 7th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $41.00.

Helmerich & Payne 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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