Allspring Global Investments Holdings LLC Decreases Stock Position in Helmerich & Payne, Inc. $HP

Allspring Global Investments Holdings LLC decreased its position in Helmerich & Payne, Inc. (NYSE:HP) by 86.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,361 shares of the oil and gas company’s stock after selling 206,293 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Helmerich & Payne were worth $748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. increased its holdings in shares of Helmerich & Payne by 8.1% in the 2nd quarter. American Century Companies Inc. now owns 3,224,611 shares of the oil and gas company’s stock worth $48,885,000 after buying an additional 240,771 shares during the last quarter. Invesco Ltd. grew its position in Helmerich & Payne by 9.5% in the second quarter. Invesco Ltd. now owns 2,959,928 shares of the oil and gas company’s stock worth $44,873,000 after acquiring an additional 255,794 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in Helmerich & Payne by 174.1% during the second quarter. Balyasny Asset Management L.P. now owns 2,044,383 shares of the oil and gas company’s stock worth $30,993,000 after acquiring an additional 1,298,510 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Helmerich & Payne by 22.9% during 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 during the period. Finally, Fairfax Financial Holdings Ltd. Can lifted its stake in shares of Helmerich & Payne by 25.8% in the 2nd quarter. Fairfax Financial Holdings Ltd. Can now owns 974,105 shares of the oil and gas company’s stock valued at $14,767,000 after purchasing an additional 200,000 shares during the last quarter. 96.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on HP shares. Susquehanna raised their target price on shares of Helmerich & Payne from $31.00 to $36.00 and gave the stock a “positive” rating in a report on Wednesday. The Goldman Sachs Group raised shares of Helmerich & Payne from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $20.00 to $28.00 in a research report on Thursday, November 20th. Piper Sandler upgraded Helmerich & Payne from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $21.00 to $35.00 in a research report on Thursday, December 18th. TD Cowen increased their price target on Helmerich & Payne from $33.00 to $35.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Cowen reissued a “hold” rating on shares of Helmerich & Payne in a research note on Wednesday. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $31.90.

Helmerich & Payne Trading Down 2.4%

NYSE:HP opened at $30.65 on Friday. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of -18.35 and a beta of 0.56. Helmerich & Payne, Inc. has a 52 week low of $14.65 and a 52 week high of $37.30. The company has a quick ratio of 1.40, a current ratio of 1.80 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average of $28.33 and a 200 day moving average of $22.72.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Monday, November 17th. The oil and gas company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.27). Helmerich & Payne had a positive return on equity of 3.21% and a negative net margin of 4.37%.The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $972.79 million. During the same quarter in the previous year, the firm posted $0.76 EPS. Helmerich & Payne’s revenue was up 45.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.3%. Helmerich & Payne’s dividend payout ratio (DPR) is presently -59.88%.

Insider Buying and Selling at Helmerich & Payne

In other Helmerich & Payne news, Director Hans Helmerich sold 75,000 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $28.12, for a total value of $2,109,000.00. Following the completion of the transaction, the director owned 496,735 shares in the company, valued at approximately $13,968,188.20. This represents a 13.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 4.51% of the stock is currently owned by company insiders.

Helmerich & Payne 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.