Vanguard Group Inc. Has $308.58 Million Stock Holdings in Helmerich & Payne, Inc. $HP

Key Points

• Vanguard Group trimmed its stake by 0.9% to 10,759,269 shares, leaving it with a 10.58% ownership position in Helmerich & Payne worth about $308.58 million.
• Helmerich & Payne missed quarterly expectations, reporting ($0.38) EPS vs. ($0.06) expected and $932.36 million in revenue (down 8.2% YoY), while the company shows negative margins and ROE.
• Analysts hold a consensus rating of Hold with an average target of $37.80, and the company declared a $0.25 quarterly dividend (annualized $1.00, ~2.7% yield) with an ex-dividend date of May 18.

Vanguard Group Inc. cut its position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,759,269 shares of the oil and gas company's stock after selling 93,210 shares during the period. Vanguard Group Inc. owned 10.58% of Helmerich & Payne worth $308,576,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in Helmerich & Payne by 2,433.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company's stock valued at $25,000 after buying an additional 1,582 shares during the last quarter. Rothschild Investment LLC grew its stake in Helmerich & Payne by 1,377.8% in the 3rd quarter. Rothschild Investment LLC now owns 1,330 shares of the oil and gas company's stock valued at $29,000 after buying an additional 1,240 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Helmerich & Payne by 46.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 1,745 shares of the oil and gas company's stock valued at $39,000 after buying an additional 554 shares during the last quarter. Hantz Financial Services Inc. grew its stake in Helmerich & Payne by 184.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,831 shares of the oil and gas company's stock valued at $40,000 after buying an additional 1,187 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in Helmerich & Payne by 407.1% in the 3rd quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company's stock valued at $49,000 after buying an additional 1,787 shares during the last quarter. Institutional investors and hedge funds own 96.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Weiss Ratings reiterated a "sell (d+)" rating on shares of Helmerich & Payne in a research note on Friday, March 27th. Royal Bank Of Canada increased their target price on shares of Helmerich & Payne from $34.00 to $36.00 and gave the stock a "sector perform" rating in a research report on Friday, February 6th. Susquehanna increased their target price on shares of Helmerich & Payne from $40.00 to $42.00 and gave the stock a "positive" rating in a research report on Tuesday, April 7th. Piper Sandler increased their target price on shares of Helmerich & Payne from $40.00 to $41.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. Finally, Morgan Stanley increased their target price on shares of Helmerich & Payne from $30.00 to $35.00 and gave the stock an "underweight" rating in a research report on Wednesday, April 15th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Helmerich & Payne has a consensus rating of "Hold" and an average target price of $37.80.

Helmerich & Payne Stock Performance

Shares of Helmerich & Payne stock opened at $36.84 on Friday. The company has a 50 day moving average of $35.92 and a 200-day moving average of $31.99. Helmerich & Payne, Inc. has a 1-year low of $14.65 and a 1-year high of $41.68. The company has a current ratio of 2.03, a quick ratio of 1.58 and a debt-to-equity ratio of 0.75. The company has a market cap of $3.68 billion, a PE ratio of -9.72 and a beta of 0.62.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued its quarterly 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 return on equity of 1.14% and a negative net margin of 9.38%.The firm had revenue of $932.36 million for the quarter, compared to the consensus estimate of $945.60 million. During the same period last year, the company posted $0.01 EPS. The business's revenue was down 8.2% on a year-over-year basis. As a group, equities 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 disclosed 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. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.00 annualized dividend and a yield of 2.7%. Helmerich & Payne's dividend payout ratio is presently -31.35%.

Insider Buying and Selling

In related news, SVP Cara M. Hair sold 58,771 shares of the stock in a transaction that occurred on 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 represents a 25.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.40% of the stock is currently owned by insiders.

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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