ARGA Investment Management LP Has $32.13 Million Holdings in Helmerich & Payne, Inc. (NYSE:HP)

ARGA Investment Management LP lifted its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 497.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 887,116 shares of the oil and gas company's stock after buying an additional 738,594 shares during the quarter. Helmerich & Payne comprises approximately 1.1% of ARGA Investment Management LP's investment portfolio, making the stock its 24th biggest holding. ARGA Investment Management LP owned about 0.90% of Helmerich & Payne worth $32,131,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Securities Inc. acquired a new position in shares of Helmerich & Payne during the 4th quarter worth about $35,000. GAMMA Investing LLC bought a new position in shares of Helmerich & Payne during the fourth quarter worth $73,000. LSV Asset Management bought a new stake in shares of Helmerich & Payne in the 3rd quarter valued at $202,000. Cottage Street Advisors LLC acquired a new stake in Helmerich & Payne during the 3rd quarter worth $236,000. Finally, Advisor Partners II LLC bought a new position in Helmerich & Payne during the third quarter worth about $251,000. 96.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HP has been the topic of several research reports. Piper Sandler cut their target price on Helmerich & Payne from $44.00 to $39.00 and set a "neutral" rating on the stock in a research note on Monday, May 6th. Citigroup increased their price objective on shares of Helmerich & Payne from $40.00 to $42.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 16th. Royal Bank of Canada upped their target price on Helmerich & Payne from $46.00 to $48.00 and gave the stock a "sector perform" rating in a report on Wednesday, January 31st. Susquehanna decreased their price target on Helmerich & Payne from $52.00 to $50.00 and set a "positive" rating for the company in a research note on Friday, April 26th. Finally, Benchmark reiterated a "hold" rating on shares of Helmerich & Payne in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $42.00.

Insider Transactions at Helmerich & Payne

In other Helmerich & Payne news, SVP Cara M. Hair sold 9,910 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $40.22, for a total value of $398,580.20. Following the completion of the transaction, the senior vice president now directly owns 137,764 shares in the company, valued at $5,540,868.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Helmerich & Payne news, CFO Mark W. Smith sold 16,000 shares of the firm's stock in a transaction on Monday, April 29th. The shares were sold at an average price of $40.49, for a total value of $647,840.00. Following the sale, the chief financial officer now owns 144,870 shares of the company's stock, valued at approximately $5,865,786.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Cara M. Hair sold 9,910 shares of the firm's stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $40.22, for a total value of $398,580.20. Following the completion of the sale, the senior vice president now directly owns 137,764 shares in the company, valued at $5,540,868.08. The disclosure for this sale can be found here. Company insiders own 4.38% of the company's stock.

Helmerich & Payne Stock Performance

HP stock traded down $0.29 during midday trading on Thursday, reaching $38.21. 874,316 shares of the company were exchanged, compared to its average volume of 1,270,600. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 1.87 and a beta of 1.51. The business has a 50-day moving average price of $40.81 and a two-hundred day moving average price of $38.41. Helmerich & Payne, Inc. has a one year low of $30.69 and a one year high of $46.55. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 1.92.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its earnings results on Thursday, April 25th. The oil and gas company reported $0.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.85 by ($0.01). The business had revenue of $687.94 million during the quarter, compared to the consensus estimate of $682.51 million. Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The company's revenue was down 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.26 EPS. Equities research analysts forecast that Helmerich & Payne, Inc. will post 3.56 EPS for the current year.

Helmerich & Payne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a $0.42 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.68 dividend on an annualized basis and a yield of 4.40%. Helmerich & Payne's dividend payout ratio is currently 28.57%.

Helmerich & Payne Company 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.

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