Dimensional Fund Advisors LP Acquires 570,500 Shares of Helmerich & Payne, Inc. $HP

Dimensional Fund Advisors LP increased its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 11.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,735,765 shares of the oil and gas company’s stock after purchasing an additional 570,500 shares during the period. Dimensional Fund Advisors LP owned approximately 5.74% of Helmerich & Payne worth $206,660,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Leonteq Securities AG acquired a new position in Helmerich & Payne in the fourth quarter valued at about $26,000. EverSource Wealth Advisors LLC grew its position 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 acquiring an additional 1,582 shares during the last quarter. Parallel Advisors LLC increased its holdings in Helmerich & Payne by 407.1% during the 3rd quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company’s stock valued at $49,000 after purchasing an additional 1,787 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in Helmerich & Payne by 24.3% during the 4th quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock valued at $65,000 after purchasing an additional 445 shares in the last quarter. Finally, Strs Ohio bought a new position in Helmerich & Payne in the 1st quarter valued at $101,000. Institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Up 0.6%

Shares of HP stock opened at $35.29 on Friday. Helmerich & Payne, Inc. has a 12-month low of $15.17 and a 12-month high of $41.82. The company has a quick ratio of 1.32, a current ratio of 1.71 and a debt-to-equity ratio of 0.71. The firm has a fifty day moving average of $36.02 and a 200-day moving average of $35.40. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of -9.31 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) earnings per share 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 firm had revenue of $932.36 million for the quarter, compared to analyst estimates of $945.60 million. During the same period in the prior year, the company earned $0.01 earnings per share. The firm’s quarterly revenue was down 8.2% on a year-over-year basis. As a group, equities research analysts predict that Helmerich & Payne, Inc. will post -0.11 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders 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 dividend yield of 2.8%. The ex-dividend date of this dividend is Tuesday, August 18th. Helmerich & Payne’s dividend payout ratio (DPR) is currently -26.39%.

Wall Street Analyst Weigh In

HP has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Helmerich & Payne in a research note on Wednesday, June 24th. Royal Bank Of Canada raised their target price on Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Piper Sandler upped their price target 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. The Goldman Sachs Group increased 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, Citigroup lowered their price objective on Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, June 29th. Five investment 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $39.80.

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.