The Manufacturers Life Insurance Company Buys New Stake in Helmerich & Payne, Inc. $HP

The Manufacturers Life Insurance Company bought a new stake in Helmerich & Payne, Inc. (NYSE:HP) in the 2nd quarter, HoldingsChannel reports. The fund bought 138,075 shares of the oil and gas company’s stock, valued at approximately $4,521,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC increased its position in shares of Helmerich & Payne by 2,433.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 1,582 shares in the last quarter. Leonteq Securities AG purchased a new stake in shares of Helmerich & Payne during the 4th quarter valued at $26,000. Parallel Advisors LLC boosted its position in shares of 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 worth $49,000 after purchasing an additional 1,787 shares in the last quarter. Hantz Financial Services Inc. boosted its position in shares of Helmerich & Payne by 24.3% in the 4th quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock worth $65,000 after purchasing an additional 445 shares in the last quarter. Finally, Strs Ohio purchased a new position in Helmerich & Payne during the 1st quarter worth $101,000. 96.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Helmerich & Payne

In other news, Director Hans Helmerich sold 94,470 shares of the stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $43.90, for a total value of $4,147,233.00. Following the sale, the director owned 20,000 shares in the company, valued at $878,000. This represents a 82.53% 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. Also, SVP Cara M. Hair sold 11,149 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $44.27, for a total transaction of $493,566.23. Following the transaction, the senior vice president directly owned 136,095 shares of the company’s stock, valued at approximately $6,024,925.65. This trade represents a 7.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 110,673 shares of company stock worth $4,864,590. Company insiders own 4.40% of the company’s stock.

Helmerich & Payne Trading Up 2.2%

Shares of NYSE:HP opened at $43.50 on Tuesday. Helmerich & Payne, Inc. has a 52-week low of $19.50 and a 52-week high of $45.00. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of -30.85 and a beta of 0.61. The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 0.69. The business has a 50-day moving average price of $36.67 and a 200-day moving average price of $36.66.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $987.70 million. Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%.The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm earned $0.22 EPS. Equities analysts predict that Helmerich & Payne, Inc. will post -0.18 EPS for the current year.

Helmerich & Payne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, August 18th. Helmerich & Payne’s payout ratio is presently -70.92%.

Wall Street Analyst Weigh In

HP has been the topic of several recent analyst reports. The Goldman Sachs Group upped their target price on Helmerich & Payne from $35.00 to $41.00 and gave the company a “neutral” rating in a research report on Wednesday, June 3rd. Weiss Ratings lowered Helmerich & Payne from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday. Royal Bank Of Canada increased 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, May 8th. Susquehanna boosted their target price on shares of Helmerich & Payne from $40.00 to $44.00 and gave the stock a “positive” rating in a research report on Friday, August 7th. Finally, Barclays raised their price target on shares of Helmerich & Payne from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Helmerich & Payne presently has an average rating of “Hold” and a consensus target price of $41.00.

Helmerich & Payne Company Profile

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.