Mitsubishi UFJ Trust & Banking Corp Has $279,000 Stock Holdings in Helmerich & Payne, Inc. $HP

Key Points

• Mitsubishi UFJ Trust & Banking Corp cut its position in Helmerich & Payne by 79.3% in the fourth quarter, selling 37,337 shares and leaving a holding of 9,736 shares valued at $279,000.
• Helmerich & Payne reported Q1 EPS of ($0.38), missing the consensus of ($0.06) by $0.32, while revenue declined 8.2% year-over-year.
• SVP Cara M. Hair sold 58,771 shares at an average price of $36.62 (≈$2.15M), trimming her position by 25.08% to 175,589 shares, and company insiders collectively own 4.40% of the stock.

Mitsubishi UFJ Trust & Banking Corp cut its position in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 79.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,736 shares of the oil and gas company's stock after selling 37,337 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Helmerich & Payne were worth $279,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of HP. Balyasny Asset Management L.P. raised its holdings in Helmerich & Payne by 174.1% in the second quarter. Balyasny Asset Management L.P. now owns 2,044,383 shares of the oil and gas company's stock worth $30,993,000 after purchasing an additional 1,298,510 shares during the period. Ameriprise Financial Inc. raised its holdings in Helmerich & Payne by 316.9% in the third quarter. Ameriprise Financial Inc. now owns 1,218,057 shares of the oil and gas company's stock worth $26,907,000 after purchasing an additional 925,921 shares during the period. Deprince Race & Zollo Inc. acquired a new stake in Helmerich & Payne in the fourth quarter worth $23,120,000. Bridgeway Capital Management LLC acquired a new stake in Helmerich & Payne in the second quarter worth $7,841,000. Finally, Millennium Management LLC raised its holdings in shares of Helmerich & Payne by 439.3% during the third quarter. Millennium Management LLC now owns 614,884 shares of the oil and gas company's stock worth $13,583,000 after acquiring an additional 500,863 shares during the period. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Helmerich & Payne

In other news, SVP Cara M. Hair sold 58,771 shares of Helmerich & Payne stock in a transaction dated 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 completion of the transaction, the senior vice president owned 175,589 shares of the company's stock, valued at $6,430,069.18. This trade represents a 25.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on HP shares. Susquehanna raised their price objective on shares of Helmerich & Payne from $40.00 to $42.00 and gave the stock a "positive" rating in a report on Tuesday, April 7th. Weiss Ratings restated a "sell (d+)" rating on shares of Helmerich & Payne in a report on Friday, March 27th. Piper Sandler raised their price objective on shares of Helmerich & Payne from $40.00 to $41.00 and gave the stock an "overweight" rating in a report on Wednesday, April 15th. Evercore upgraded shares of Helmerich & Payne from an "in-line" rating to an "outperform" rating and set a $43.00 price objective on the stock in a report on Friday, March 20th. Finally, Morgan Stanley raised their price objective on shares of Helmerich & Payne from $30.00 to $35.00 and gave the stock an "underweight" rating in a report on Wednesday, April 15th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Helmerich & Payne presently has a consensus rating of "Hold" and an average price target of $37.80.

Helmerich & Payne Stock Down 3.8%

Helmerich & Payne stock opened at $39.97 on Thursday. The company has a market cap of $3.99 billion, a P/E ratio of -12.53 and a beta of 0.62. Helmerich & Payne, Inc. has a 1-year low of $14.65 and a 1-year high of $41.68. The company has a fifty day simple moving average of $35.87 and a 200 day simple moving average of $31.89. The company has a current ratio of 2.03, a quick ratio of 1.58 and a debt-to-equity ratio of 0.75.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its 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 7.71% and a positive return on equity of 0.28%. During the same quarter in the prior year, the company posted $0.01 earnings per share. Helmerich & Payne's revenue for the quarter was down 8.2% on a year-over-year basis. Research analysts anticipate that Helmerich & Payne, Inc. will post 0.11 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

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

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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