919,500 Shares in Helmerich & Payne, Inc. $HP Acquired by Canoe Financial LP

Canoe Financial LP bought a new position in Helmerich & Payne, Inc. (NYSE:HP) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 919,500 shares of the oil and gas company’s stock, valued at approximately $33,130,000. Canoe Financial LP owned 0.92% of Helmerich & Payne at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System acquired a new position in shares of Helmerich & Payne during the 1st quarter valued at $1,596,000. William B. Walkup & Associates Inc. lifted its holdings in shares of Helmerich & Payne by 1.0% in the first quarter. William B. Walkup & Associates Inc. now owns 35,241 shares of the oil and gas company’s stock valued at $1,270,000 after buying an additional 355 shares during the period. Rockefeller Capital Management L.P. boosted its stake in Helmerich & Payne by 18.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 7,840 shares of the oil and gas company’s stock valued at $225,000 after buying an additional 1,200 shares in the last quarter. Dean Capital Management boosted its stake in Helmerich & Payne by 7.5% during the fourth quarter. Dean Capital Management now owns 144,195 shares of the oil and gas company’s stock valued at $4,136,000 after buying an additional 10,036 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Helmerich & Payne by 15.5% during the fourth quarter. Invesco Ltd. now owns 3,468,526 shares of the oil and gas company’s stock worth $99,477,000 after acquiring an additional 465,440 shares during the period. 96.05% of the stock is owned by institutional investors.

Helmerich & Payne Trading Down 0.3%

Shares of NYSE HP opened at $33.70 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.71 and a debt-to-equity ratio of 0.71. Helmerich & Payne, Inc. has a 12 month low of $15.08 and a 12 month high of $41.82. The company has a market cap of $3.37 billion, a price-to-earnings ratio of -8.89 and a beta of 0.59. The business has a fifty day simple moving average of $37.95 and a 200-day simple moving average of $34.81.

Helmerich & Payne (NYSE:HP) 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). The company had revenue of $932.36 million during the quarter, compared to analysts’ expectations of $945.60 million. Helmerich & Payne had a negative return on equity of 1.16% and a negative net margin of 9.38%.The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.01 EPS. Sell-side analysts predict that Helmerich & Payne, Inc. will post -0.02 EPS for the current year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, August 18th. Helmerich & Payne’s dividend payout ratio (DPR) is -26.39%.

Analyst Upgrades and Downgrades

Several brokerages have commented on HP. Morgan Stanley boosted their price target on shares of Helmerich & Payne from $35.00 to $39.00 and gave the stock an “underweight” rating in a research report on Thursday, May 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Wednesday. Piper Sandler boosted their target price on shares of Helmerich & Payne from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Royal Bank Of Canada increased their target price on shares of Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Finally, Evercore upgraded shares of Helmerich & Payne from an “in-line” rating to an “outperform” rating and set a $43.00 target price for the company in a report on Friday, March 20th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Helmerich & Payne presently has an average rating of “Hold” and a consensus target price of $40.60.

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.