Hodges Capital Management Inc. Has $1.14 Million Holdings in Helmerich & Payne, Inc. (NYSE:HP)

Hodges Capital Management Inc. reduced its position in Helmerich & Payne, Inc. (NYSE:HP) by 22.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,010 shares of the oil and gas company’s stock after selling 7,776 shares during the period. Hodges Capital Management Inc.’s holdings in Helmerich & Payne were worth $1,136,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of HP. Pacer Advisors Inc. increased its holdings in shares of Helmerich & Payne by 130.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,720,464 shares of the oil and gas company’s stock valued at $98,535,000 after acquiring an additional 1,541,987 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Helmerich & Payne by 937.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 841,724 shares of the oil and gas company’s stock valued at $30,487,000 after acquiring an additional 760,554 shares during the last quarter. ARGA Investment Management LP increased its holdings in shares of Helmerich & Payne by 497.3% during the 4th quarter. ARGA Investment Management LP now owns 887,116 shares of the oil and gas company’s stock valued at $32,131,000 after acquiring an additional 738,594 shares during the last quarter. LSV Asset Management increased its holdings in shares of Helmerich & Payne by 11,750.0% during the 4th quarter. LSV Asset Management now owns 568,800 shares of the oil and gas company’s stock valued at $20,602,000 after acquiring an additional 564,000 shares during the last quarter. Finally, Great Lakes Advisors LLC acquired a new position in shares of Helmerich & Payne during the 4th quarter valued at about $15,367,000. 96.05% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Cara M. Hair sold 9,910 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $40.22, for a total transaction of $398,580.20. Following the completion of the transaction, the senior vice president now owns 137,764 shares in the company, valued at approximately $5,540,868.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Cara M. Hair sold 9,910 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $40.22, for a total transaction of $398,580.20. Following the completion of the transaction, the senior vice president now owns 137,764 shares in the company, valued at approximately $5,540,868.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark W. Smith sold 16,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $40.49, for a total value of $647,840.00. Following the transaction, the chief financial officer now owns 144,870 shares of the company’s stock, valued at approximately $5,865,786.30. The disclosure for this sale can be found here. Corporate insiders own 4.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HP. Citigroup increased their price objective on Helmerich & Payne from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, April 25th. Piper Sandler decreased their target price on Helmerich & Payne from $44.00 to $39.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Finally, Susquehanna decreased their target price on Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating for the company in a research note on Friday, April 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $42.29.

Helmerich & Payne Price Performance

Shares of HP stock opened at $36.14 on Friday. The stock has a 50 day moving average of $37.15 and a two-hundred day moving average of $37.99. The company has a current ratio of 2.16, a quick ratio of 1.92 and a debt-to-equity ratio of 0.19. Helmerich & Payne, Inc. has a 12 month low of $32.17 and a 12 month high of $46.55. The company has a market capitalization of $3.57 billion, a P/E ratio of 10.33, a P/E/G ratio of 3.98 and a beta of 1.47.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01). Helmerich & Payne had a return on equity of 13.21% and a net margin of 12.84%. The firm had revenue of $687.94 million during the quarter, compared to the consensus estimate of $682.51 million. During the same quarter in the prior year, the business posted $1.26 EPS. Helmerich & Payne’s revenue was down 10.6% compared to the same quarter last year. As a group, equities analysts expect that Helmerich & Payne, Inc. will post 3.46 EPS for the current year.

Helmerich & Payne Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.77%. Helmerich & Payne’s dividend payout ratio is currently 28.57%.

Helmerich & Payne Company Profile

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.