UBS Group AG Acquires 180,638 Shares of Helmerich & Payne, Inc. $HP

Key Points

• UBS Group AG increased its stake in Helmerich & Payne by 17.5% in the fourth quarter, buying 180,638 additional shares and bringing its total holding to 1,215,192 shares worth about $34.9 million.
• Helmerich & Payne’s latest quarterly results missed analyst expectations, with EPS of -$0.38 and revenue of $932.36 million versus estimates of $945.60 million. Revenue fell 8.2% year over year.
• The company announced a quarterly dividend of $0.25 per share, payable June 1, which works out to an annualized dividend yield of 2.6%.

UBS Group AG raised its holdings in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 17.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,215,192 shares of the oil and gas company's stock after purchasing an additional 180,638 shares during the period. UBS Group AG owned 1.20% of Helmerich & Payne worth $34,852,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. American Century Companies Inc. grew its stake in Helmerich & Payne by 7.7% in the 3rd quarter. American Century Companies Inc. now owns 3,474,036 shares of the oil and gas company's stock valued at $76,741,000 after buying an additional 249,425 shares in the last quarter. Invesco Ltd. lifted its position in shares of Helmerich & Payne by 1.5% during the third quarter. Invesco Ltd. now owns 3,003,086 shares of the oil and gas company's stock worth $66,338,000 after acquiring an additional 43,158 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of Helmerich & Payne by 4.3% in the third quarter. Balyasny Asset Management L.P. now owns 2,132,265 shares of the oil and gas company's stock worth $47,102,000 after acquiring an additional 87,882 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Helmerich & Payne by 22.9% in the second quarter. The Manufacturers Life Insurance Company now owns 1,720,505 shares of the oil and gas company's stock valued at $26,083,000 after purchasing an additional 321,004 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Helmerich & Payne by 17.6% in the third quarter. Van ECK Associates Corp now owns 1,550,279 shares of the oil and gas company's stock valued at $34,246,000 after purchasing an additional 231,737 shares in the last quarter. Institutional investors own 96.05% of the company's stock.

Insider Transactions at Helmerich & Payne

In other Helmerich & Payne news, SVP Cara M. Hair sold 58,771 shares of Helmerich & Payne stock in a transaction that occurred on 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 directly owned 175,589 shares in the company, valued at $6,430,069.18. The trade was a 25.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.40% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

HP has been the topic of a number of recent research reports. Barclays increased their price objective on Helmerich & Payne from $39.00 to $47.00 and gave the stock an "overweight" rating in a report on Friday. Morgan Stanley upped their price target on Helmerich & Payne from $30.00 to $35.00 and gave the company an "underweight" rating in a research report on Wednesday, April 15th. The Goldman Sachs Group reissued a "neutral" rating and issued a $32.00 price target on shares of Helmerich & Payne in a report on Wednesday, January 14th. Royal Bank Of Canada raised their price objective 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. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Helmerich & Payne in a report on Friday, March 27th. Five 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, the stock presently has an average rating of "Hold" and an average price target of $39.10.

Helmerich & Payne Price Performance

Helmerich & Payne stock opened at $37.89 on Friday. Helmerich & Payne, Inc. has a 52 week low of $14.65 and a 52 week high of $41.68. The business has a 50-day simple moving average of $35.92 and a 200 day simple moving average of $31.99. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.71. The stock has a market cap of $3.78 billion, a price-to-earnings ratio of -10.00 and a beta of 0.62.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.32). The business had revenue of $932.36 million during the quarter, compared to analysts' expectations of $945.60 million. Helmerich & Payne had a negative net margin of 9.38% and a negative return on equity of 1.16%. The business's revenue was down 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.01 EPS. On average, research analysts forecast that Helmerich & Payne, Inc. will post 0.11 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, May 18th. Helmerich & Payne's dividend payout ratio (DPR) is currently -31.35%.

About Helmerich & Payne

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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