Kornitzer Capital Management Inc. KS Has $12.46 Million Position in Helmerich & Payne, Inc. (NYSE:HP)

Kornitzer Capital Management Inc. KS lowered its position in Helmerich & Payne, Inc. (NYSE:HP) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 343,895 shares of the oil and gas company’s stock after selling 6,750 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Helmerich & Payne were worth $12,456,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in HP. Victory Capital Management Inc. lifted its stake in shares of Helmerich & Payne by 13,372.8% during the 3rd quarter. Victory Capital Management Inc. now owns 2,418,364 shares of the oil and gas company’s stock worth $101,958,000 after buying an additional 2,400,414 shares during the last quarter. Pacer Advisors Inc. lifted its stake 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 worth $98,535,000 after buying an additional 1,541,987 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Helmerich & Payne by 260.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,173,965 shares of the oil and gas company’s stock worth $50,222,000 after buying an additional 848,198 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Helmerich & Payne by 157.8% during the 1st quarter. Invesco Ltd. now owns 1,254,467 shares of the oil and gas company’s stock worth $53,667,000 after buying an additional 767,791 shares during the last quarter. Finally, Capital Research Global Investors lifted its stake in shares of Helmerich & Payne by 83.1% during the 1st quarter. Capital Research Global Investors now owns 1,278,249 shares of the oil and gas company’s stock worth $54,683,000 after buying an additional 579,949 shares during the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Analysts Set New Price Targets

HP has been the topic of a number of recent research reports. Susquehanna raised their price target on shares of Helmerich & Payne from $50.00 to $52.00 and gave the stock a “positive” rating in a research report on Monday, April 8th. Piper Sandler raised their price target on shares of Helmerich & Payne from $41.00 to $44.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 20th. Royal Bank of Canada raised their price target on shares of Helmerich & Payne from $46.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. The Goldman Sachs Group lowered their price target on shares of Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating on the stock in a research report on Friday, January 12th. Finally, Benchmark lowered shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $42.88.

Helmerich & Payne Price Performance

HP stock traded up $0.79 during mid-day trading on Friday, hitting $41.96. The stock had a trading volume of 862,741 shares, compared to its average volume of 868,608. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.20. Helmerich & Payne, Inc. has a 52 week low of $30.41 and a 52 week high of $46.55. The firm has a market capitalization of $4.15 billion, a P/E ratio of 10.02, a P/E/G ratio of 1.97 and a beta of 1.51. The firm has a fifty day simple moving average of $40.41 and a 200 day simple moving average of $38.64.

Helmerich & Payne (NYSE:HP) last released its earnings results on Tuesday, January 30th. The oil and gas company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.73 by $0.24. Helmerich & Payne had a net margin of 15.27% and a return on equity of 15.06%. The firm had revenue of $677.00 million for the quarter, compared to analyst estimates of $661.81 million. During the same period last year, the firm earned $1.11 EPS. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. As a group, research analysts forecast that Helmerich & Payne, Inc. will post 3.59 EPS for the current year.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Thursday, May 16th. Helmerich & Payne’s dividend payout ratio (DPR) is presently 23.87%.

About Helmerich & Payne

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.