Public Sector Pension Investment Board Raises Position in Helmerich & Payne, Inc. $HP

Key Points

• Public Sector Pension Investment Board increased its stake in Helmerich & Payne, Inc. by 28.1%, bringing its total ownership to 0.32% valued at approximately $8.2 million.
• Despite a recent 3.7% decline in share price, Helmerich & Payne reported a quarterly EPS of $0.22, exceeding analyst expectations of $0.20.
• The company announced a quarterly dividend of $0.25 per share, representing a 5.7% dividend yield, with an ex-dividend date set for August 15th.

Public Sector Pension Investment Board raised its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 28.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 315,144 shares of the oil and gas company's stock after buying an additional 69,062 shares during the period. Public Sector Pension Investment Board owned about 0.32% of Helmerich & Payne worth $8,232,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC bought a new stake in shares of Helmerich & Payne in the 1st quarter valued at about $6,486,000. Invesco Ltd. grew its position in Helmerich & Payne by 24.7% during the 1st quarter. Invesco Ltd. now owns 2,704,134 shares of the oil and gas company's stock worth $70,632,000 after acquiring an additional 535,808 shares during the last quarter. Deutsche Bank AG increased its stake in Helmerich & Payne by 16.4% in the 1st quarter. Deutsche Bank AG now owns 353,326 shares of the oil and gas company's stock worth $9,229,000 after purchasing an additional 49,882 shares during the period. Exencial Wealth Advisors LLC lifted its position in Helmerich & Payne by 7.5% in the first quarter. Exencial Wealth Advisors LLC now owns 15,158 shares of the oil and gas company's stock valued at $396,000 after purchasing an additional 1,064 shares during the last quarter. Finally, Cary Street Partners Financial LLC purchased a new stake in shares of Helmerich & Payne during the first quarter valued at approximately $467,000. 96.05% of the stock is owned by institutional investors.

Helmerich & Payne Stock Performance

Shares of NYSE HP traded up $0.22 during trading on Tuesday, hitting $17.81. The company had a trading volume of 463,153 shares, compared to its average volume of 1,993,544. Helmerich & Payne, Inc. has a 12 month low of $14.65 and a 12 month high of $37.46. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.43 and a current ratio of 1.84. The firm has a market capitalization of $1.77 billion, a P/E ratio of -53.83 and a beta of 0.87. The stock has a 50 day simple moving average of $16.72 and a 200 day simple moving average of $20.26.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its earnings results on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. Helmerich & Payne had a negative net margin of 0.90% and a positive return on equity of 5.81%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the firm posted $0.92 EPS. The firm's quarterly revenue was up 49.2% compared to the same quarter last year. As a group, analysts anticipate that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.6%. Helmerich & Payne's payout ratio is -303.03%.

Analyst Ratings Changes

A number of equities analysts have issued reports on HP shares. JPMorgan Chase & Co. decreased their price objective on shares of Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Morgan Stanley cut their price objective on Helmerich & Payne from $27.00 to $20.00 and set an "underweight" rating on the stock in a research report on Friday, May 16th. Wall Street Zen downgraded Helmerich & Payne from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Piper Sandler raised their price target on Helmerich & Payne from $20.00 to $21.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, TD Cowen boosted their price objective on shares of Helmerich & Payne from $26.00 to $27.00 and gave the company a "hold" rating in a research report on Tuesday. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $22.20.

About Helmerich & Payne

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.