Fifth Third Bancorp Acquires 48,551 Shares of Helmerich & Payne, Inc. $HP

Fifth Third Bancorp increased its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 288.4% during the 1st quarter, Holdings Channel reports. The fund owned 65,386 shares of the oil and gas company’s stock after acquiring an additional 48,551 shares during the period. Fifth Third Bancorp’s holdings in Helmerich & Payne were worth $2,356,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada raised its position in shares of Helmerich & Payne by 4.4% during the first quarter. Royal Bank of Canada now owns 104,180 shares of the oil and gas company’s stock worth $2,721,000 after purchasing an additional 4,394 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Helmerich & Payne by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,630 shares of the oil and gas company’s stock worth $1,531,000 after purchasing an additional 3,611 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Helmerich & Payne by 39,685.1% during the first quarter. NewEdge Advisors LLC now owns 34,613 shares of the oil and gas company’s stock valued at $904,000 after acquiring an additional 34,526 shares during the last quarter. Empowered Funds LLC boosted its position in Helmerich & Payne by 9.9% in the first quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company’s stock worth $247,000 after purchasing an additional 852 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Helmerich & Payne by 34.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,445 shares of the oil and gas company’s stock worth $5,575,000 after purchasing an additional 54,758 shares during the period. 96.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HP. Weiss Ratings restated a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Wednesday, June 24th. Morgan Stanley reiterated an “underweight” rating and set a $36.00 target price on shares of Helmerich & Payne in a research report on Wednesday, July 15th. Susquehanna lowered their price target on shares of Helmerich & Payne from $43.00 to $40.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. The Goldman Sachs Group upped their price target on shares of Helmerich & Payne from $35.00 to $41.00 and gave the company a “neutral” rating in a research note on Wednesday, June 3rd. Finally, Royal Bank Of Canada lifted 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 note on Friday, May 8th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $39.80.

Helmerich & Payne Price Performance

Shares of Helmerich & Payne stock opened at $34.59 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 1.32. Helmerich & Payne, Inc. has a one year low of $15.17 and a one year high of $41.82. The business’s 50 day simple moving average is $36.25 and its two-hundred day simple moving average is $35.31. The stock has a market capitalization of $3.46 billion, a P/E ratio of -9.13 and a beta of 0.60.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, May 6th. The oil and gas company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.32). Helmerich & Payne had a negative return on equity of 1.16% and a negative net margin of 9.38%.The business had revenue of $932.36 million for the quarter, compared to the consensus estimate of $945.60 million. During the same period in the previous year, the firm earned $0.01 EPS. The company’s revenue was down 8.2% on a year-over-year basis. Analysts forecast that Helmerich & Payne, Inc. will post -0.12 EPS for the current year.

Helmerich & Payne Dividend Announcement

The business 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. The ex-dividend date is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.9%. Helmerich & Payne’s payout ratio is presently -26.39%.

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.