Legal & General Group Plc Buys New Stake in Helmerich & Payne, Inc. $HP

Legal & General Group Plc bought a new stake in Helmerich & Payne, Inc. (NYSE:HP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 220,924 shares of the oil and gas company’s stock, valued at approximately $7,233,000. Legal & General Group Plc owned 0.22% of Helmerich & Payne as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its stake in shares of Helmerich & Payne by 2,433.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,647 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 1,582 shares in the last quarter. Leonteq Securities AG acquired a new position in Helmerich & Payne in the 4th quarter valued at about $26,000. Parallel Advisors LLC increased its stake in Helmerich & Payne by 407.1% during the third quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 1,787 shares during the period. Hantz Financial Services Inc. increased its stake in Helmerich & Payne by 24.3% during the fourth quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock worth $65,000 after purchasing an additional 445 shares during the period. Finally, Strs Ohio acquired a new stake in shares of Helmerich & Payne during the first quarter worth about $101,000. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HP. Wall Street Zen upgraded shares of Helmerich & Payne from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Royal Bank Of Canada raised their price target 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. Citigroup cut their price objective 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. Weiss Ratings cut Helmerich & Payne from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, August 27th. Finally, Morgan Stanley lifted their target price on Helmerich & Payne from $36.00 to $41.00 and gave the company an “underweight” rating in a report on Thursday, August 20th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $41.00.

Helmerich & Payne Stock Up 3.4%

Shares of NYSE:HP opened at $47.79 on Thursday. Helmerich & Payne, Inc. has a fifty-two week low of $19.50 and a fifty-two week high of $48.17. The firm’s 50 day moving average price is $37.18 and its 200 day moving average price is $36.85. The company has a quick ratio of 1.55, a current ratio of 1.96 and a debt-to-equity ratio of 0.69. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of -33.89 and a beta of 0.66.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.20). Helmerich & Payne had a negative return on equity of 2.35% and a negative net margin of 3.43%.The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $987.70 million. During the same quarter last year, the firm earned $0.22 EPS. The company’s revenue was down .6% on a year-over-year basis. As a group, equities research analysts predict that Helmerich & Payne, Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Transactions at Helmerich & Payne

In other Helmerich & Payne news, Director Hans Helmerich sold 94,470 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $43.90, for a total value of $4,147,233.00. Following the sale, the director directly owned 20,000 shares in the company, valued at $878,000. This trade represents a 82.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sara Marie Momper sold 5,054 shares of Helmerich & Payne stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $44.28, for a total value of $223,791.12. Following the sale, the chief accounting officer directly owned 16,958 shares of the company’s stock, valued at $750,900.24. This trade represents a 22.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 110,673 shares of company stock valued at $4,864,590. Insiders own 4.40% of the company’s stock.

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.