Catalina Capital Group LLC Boosts Stake in Helmerich & Payne, Inc. (NYSE:HP)

Catalina Capital Group LLC raised its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 12.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,896 shares of the oil and gas company’s stock after acquiring an additional 1,078 shares during the period. Catalina Capital Group LLC’s holdings in Helmerich & Payne were worth $416,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in Helmerich & Payne by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,181,316 shares of the oil and gas company’s stock valued at $187,668,000 after acquiring an additional 19,622 shares during the period. Pacer Advisors Inc. boosted its position in shares of Helmerich & Payne by 130.8% in the fourth 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 period. Victory Capital Management Inc. boosted its position in shares of Helmerich & Payne by 8.7% in the fourth quarter. Victory Capital Management Inc. now owns 2,628,685 shares of the oil and gas company’s stock worth $95,211,000 after buying an additional 210,321 shares during the period. Boston Trust Walden Corp boosted its position in shares of Helmerich & Payne by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 2,214,742 shares of the oil and gas company’s stock worth $80,218,000 after buying an additional 34,863 shares during the period. Finally, ARGA Investment Management LP boosted its position in shares of Helmerich & Payne by 55.4% in the first quarter. ARGA Investment Management LP now owns 1,378,705 shares of the oil and gas company’s stock worth $57,988,000 after buying an additional 491,589 shares during the period. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Up 1.8 %

NYSE HP traded up $0.63 on Wednesday, hitting $36.31. 1,192,499 shares of the stock traded hands, compared to its average volume of 1,218,602. The stock has a 50-day moving average of $36.37 and a 200 day moving average of $37.92. Helmerich & Payne, Inc. has a twelve month low of $32.17 and a twelve month high of $46.55. The company has a market capitalization of $3.58 billion, a P/E ratio of 10.37, a price-to-earnings-growth ratio of 3.92 and a beta of 1.47. 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 (NYSE:HP) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.01). The firm had revenue of $687.94 million for the quarter, compared to analyst estimates of $682.51 million. Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The company’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.26 EPS. As a group, analysts expect that Helmerich & Payne, Inc. will post 3.46 earnings per share for the current fiscal year.

Helmerich & Payne Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Friday, August 16th. Helmerich & Payne’s payout ratio is 28.57%.

Analyst Ratings Changes

Several brokerages have recently weighed in on HP. 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 report on Friday, April 26th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, April 25th. Piper Sandler cut their price target on Helmerich & Payne from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Finally, Citigroup boosted their price target on Helmerich & Payne from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. 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 stock. Based on data from MarketBeat, Helmerich & Payne presently has a consensus rating of “Hold” and a consensus price target of $42.29.

Insider Transactions at Helmerich & Payne

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

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.