The Manufacturers Life Insurance Company Acquires Shares of 138,075 Helmerich & Payne, Inc. $HP

The Manufacturers Life Insurance Company bought a new position in shares of Helmerich & Payne, Inc. (NYSE:HP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 138,075 shares of the oil and gas company’s stock, valued at approximately $4,521,000. The Manufacturers Life Insurance Company owned about 0.14% of Helmerich & Payne at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings 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 worth $25,000 after purchasing an additional 1,582 shares during the last quarter. Leonteq Securities AG bought a new stake in Helmerich & Payne during the 4th quarter valued at about $26,000. Parallel Advisors LLC boosted its position in Helmerich & Payne by 407.1% in the 3rd quarter. Parallel Advisors LLC now owns 2,226 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 1,787 shares during the period. Hantz Financial Services Inc. grew its stake in Helmerich & Payne by 24.3% in the 4th quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock worth $65,000 after acquiring an additional 445 shares in the last quarter. Finally, Strs Ohio bought a new position in Helmerich & Payne in the 1st quarter worth about $101,000. 96.05% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Royal Bank Of Canada lifted 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 note on Friday, May 8th. Susquehanna raised their price objective on Helmerich & Payne from $40.00 to $44.00 and gave the stock a “positive” rating in a report on Friday, August 7th. Piper Sandler lifted their target price on Helmerich & Payne from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, May 18th. Barclays upped their target price on Helmerich & Payne from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Finally, The Goldman Sachs Group raised their price target on Helmerich & Payne from $35.00 to $41.00 and gave the company a “neutral” rating in a research note on Wednesday, June 3rd. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $41.00.

Insider Transactions at Helmerich & Payne

In related news, SVP Cara M. Hair sold 11,149 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $44.27, for a total transaction of $493,566.23. Following the completion of the sale, the senior vice president directly owned 136,095 shares in the company, valued at $6,024,925.65. This represents a 7.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Hans Helmerich sold 94,470 shares of the company’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 owned 20,000 shares of the company’s stock, valued at $878,000. This trade represents a 82.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 110,673 shares of company stock valued at $4,864,590. Corporate insiders own 4.40% of the company’s stock.

Helmerich & Payne Price Performance

NYSE HP opened at $43.50 on Tuesday. The company has a market cap of $4.35 billion, a PE ratio of -30.85 and a beta of 0.61. The firm’s 50 day moving average price is $36.67 and its 200-day moving average price is $36.66. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.55 and a current ratio of 1.96. Helmerich & Payne, Inc. has a 52-week low of $19.50 and a 52-week high of $45.00.

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

Helmerich & Payne Dividend Announcement

The business also recently declared 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 2.3%. The ex-dividend date of this dividend is Tuesday, August 18th. Helmerich & Payne’s payout ratio is presently -70.92%.

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.