Legal & General Group Plc Buys New Position in Helmerich & Payne, Inc. $HP

Legal & General Group Plc purchased a new position in shares of Helmerich & Payne, Inc. (NYSE:HP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 220,924 shares of the oil and gas company’s stock, valued at approximately $7,233,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in Helmerich & Payne by 2,433.8% during the 2nd 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 during the period. Leonteq Securities AG acquired a new position in Helmerich & Payne in the fourth quarter valued at $26,000. Parallel Advisors LLC raised its holdings in shares of Helmerich & Payne by 407.1% in the third 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. Hantz Financial Services Inc. raised its holdings in shares of Helmerich & Payne by 24.3% in the fourth quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock valued at $65,000 after buying an additional 445 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of Helmerich & Payne during the first quarter worth about $101,000. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Price Performance

Helmerich & Payne stock opened at $47.79 on Thursday. Helmerich & Payne, Inc. has a one year low of $19.50 and a one year high of $48.17. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.55 and a current ratio of 1.96. The business has a fifty day moving average of $37.18 and a two-hundred day moving average of $36.85. The company has a market cap of $4.78 billion, a P/E ratio of -33.89 and a beta of 0.66.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.20). The company 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 business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the company earned $0.22 earnings per share. As a group, analysts predict that Helmerich & Payne, Inc. will post -0.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HP. Citigroup dropped their price target on Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, June 29th. Royal Bank Of Canada boosted their target price on Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. The Goldman Sachs Group increased their price target on Helmerich & Payne from $35.00 to $41.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Barclays lifted their price objective on shares of Helmerich & Payne from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Finally, Piper Sandler upped their price objective on shares of Helmerich & Payne from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $41.00.

Insider Activity at Helmerich & Payne

In related news, Director Hans Helmerich sold 94,470 shares of Helmerich & Payne stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $43.90, for a total transaction of $4,147,233.00. Following the completion of the transaction, the director directly owned 20,000 shares of the company’s stock, valued at approximately $878,000. The trade was a 82.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Sara Marie Momper sold 5,054 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $44.28, for a total value of $223,791.12. Following the sale, the chief accounting officer owned 16,958 shares in the company, valued at approximately $750,900.24. The trade was a 22.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 110,673 shares of company stock valued at $4,864,590 in the last ninety days. Corporate insiders own 4.40% of the company’s stock.

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.