The Manufacturers Life Insurance Company Increases Stock Position in Helmerich & Payne, Inc. $HP

Key Points

• The Manufacturers Life Insurance Company increased its stake in Helmerich & Payne, Inc. by 10.2%, owning approximately 1.41% of the company, valued at $36,555,000.
• Multiple institutional investors, including State of Wyoming and Campbell & CO Investment Adviser, significantly increased their positions in Helmerich & Payne during the first quarter, indicating strong interest in the stock.
• Helmerich & Payne announced a quarterly dividend of $0.25, reflecting a 4.8% yield, amidst predictions of 2.93 earnings per share for the current fiscal year.

The Manufacturers Life Insurance Company boosted its position in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 10.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,399,501 shares of the oil and gas company's stock after buying an additional 129,180 shares during the period. The Manufacturers Life Insurance Company owned approximately 1.41% of Helmerich & Payne worth $36,555,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in HP. Versant Capital Management Inc raised its holdings in shares of Helmerich & Payne by 104.2% during the first quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company's stock valued at $44,000 after purchasing an additional 867 shares during the period. GAMMA Investing LLC raised its holdings in shares of Helmerich & Payne by 85.4% during the first quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company's stock valued at $83,000 after purchasing an additional 1,459 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Helmerich & Payne by 120.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,533 shares of the oil and gas company's stock valued at $113,000 after purchasing an additional 1,932 shares during the period. State of Wyoming raised its holdings in shares of Helmerich & Payne by 102.2% during the first quarter. State of Wyoming now owns 5,543 shares of the oil and gas company's stock valued at $145,000 after purchasing an additional 2,801 shares during the period. Finally, CWM LLC raised its holdings in shares of Helmerich & Payne by 37.8% during the first quarter. CWM LLC now owns 5,671 shares of the oil and gas company's stock valued at $148,000 after purchasing an additional 1,555 shares during the period. Institutional investors and hedge funds own 96.05% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on HP. JPMorgan Chase & Co. dropped their price objective on shares of Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Barclays decreased their target price on shares of Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating for the company in a research report on Friday, June 20th. Susquehanna decreased their target price on shares of Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating for the company in a research report on Tuesday, July 1st. Wall Street Zen downgraded shares of Helmerich & Payne from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, TD Cowen boosted their target price on shares of Helmerich & Payne from $26.00 to $27.00 and gave the stock a "hold" rating in a research report on Tuesday, August 19th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Helmerich & Payne currently has an average rating of "Reduce" and an average price target of $22.20.

Helmerich & Payne Stock Down 2.9%

HP stock traded down $0.61 during trading on Friday, reaching $20.21. The stock had a trading volume of 1,402,518 shares, compared to its average volume of 1,992,433. The company has a quick ratio of 1.43, a current ratio of 1.84 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of -61.23 and a beta of 0.95. Helmerich & Payne, Inc. has a one year low of $14.65 and a one year high of $37.46. The company's 50 day moving average is $17.31 and its two-hundred day moving average is $19.57.

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 for the quarter, beating analysts' consensus estimates of $0.20 by $0.02. The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1 billion. Helmerich & Payne had a negative net margin of 0.90% and a positive return on equity of 5.81%. The company's quarterly revenue was up 49.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.92 earnings per share. Equities research analysts forecast that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Insiders Place Their Bets

In other Helmerich & Payne news, CAO Sara Marie Momper sold 6,700 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $17.83, for a total value of $119,461.00. Following the transaction, the chief accounting officer directly owned 21,908 shares in the company, valued at $390,619.64. The trade was a 23.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.51% of the stock is currently owned by insiders.

Helmerich & Payne Profile

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.