Hsbc Holdings PLC Invests $2.01 Million in Helmerich & Payne, Inc. $HP

Hsbc Holdings PLC bought a new position in shares of Helmerich & Payne, Inc. (NYSE:HP) in the first quarter, Holdings Channel.com reports. The institutional investor bought 55,987 shares of the oil and gas company’s stock, valued at approximately $2,011,000.

A number of other large investors have also recently bought and sold shares of the company. Royal Bank of Canada increased its holdings in Helmerich & Payne by 4.4% in the 1st quarter. Royal Bank of Canada now owns 104,180 shares of the oil and gas company’s stock worth $2,721,000 after buying an additional 4,394 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Helmerich & Payne by 6.6% during 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 buying an additional 3,611 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Helmerich & Payne by 39,685.1% during the 1st 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 period. Empowered Funds LLC lifted its stake in Helmerich & Payne by 9.9% during the 1st quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company’s stock valued at $247,000 after acquiring an additional 852 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Helmerich & Payne by 34.5% in 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 valued at $5,575,000 after acquiring an additional 54,758 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Trading Down 0.1%

Shares of Helmerich & Payne stock opened at $35.29 on Monday. The company has a current ratio of 1.71, a quick ratio of 1.32 and a debt-to-equity ratio of 0.71. Helmerich & Payne, Inc. has a twelve month low of $15.17 and a twelve month high of $41.82. The firm has a market capitalization of $3.53 billion, a PE ratio of -9.31 and a beta of 0.60. The firm’s 50-day moving average price is $36.02 and its 200 day moving average price is $35.43.

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 firm had revenue of $932.36 million for the quarter, compared to analysts’ expectations of $945.60 million. During the same quarter last year, the firm posted $0.01 earnings per share. Helmerich & Payne’s quarterly revenue was down 8.2% on a year-over-year basis. On average, sell-side analysts predict that Helmerich & Payne, Inc. will post -0.11 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be given 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 is Tuesday, August 18th. Helmerich & Payne’s payout ratio is presently -26.39%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Morgan Stanley reiterated an “underweight” rating and issued a $36.00 price objective on shares of Helmerich & Payne in a research note on Wednesday, July 15th. Royal Bank Of Canada boosted 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 report on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Helmerich & Payne in a report on Wednesday, June 24th. Citigroup cut 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. Finally, Barclays lifted their price objective on Helmerich & Payne from $39.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $39.80.

Helmerich & Payne Company 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.