HighTower Advisors LLC Purchases 2,264 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Posted by on May 23rd, 2023

HighTower Advisors LLC grew its position in shares of Helmerich & Payne, Inc. (NYSE:HP – Get Rating) by 4.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 49,720 shares of the oil and gas company’s stock after acquiring an additional 2,264 shares during the quarter. HighTower Advisors LLC’s holdings in Helmerich & Payne were worth $2,462,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cullen Capital Management LLC raised its holdings in Helmerich & Payne by 11.4% during the 3rd quarter. Cullen Capital Management LLC now owns 8,996 shares of the oil and gas company’s stock valued at $333,000 after buying an additional 922 shares during the period. Castleview Partners LLC purchased a new stake in Helmerich & Payne during the 4th quarter valued at $69,000. Evergreen Capital Management LLC raised its holdings in Helmerich & Payne by 27.8% during the 3rd quarter. Evergreen Capital Management LLC now owns 8,031 shares of the oil and gas company’s stock valued at $297,000 after buying an additional 1,749 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Helmerich & Payne by 6.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 601,573 shares of the oil and gas company’s stock worth $29,820,000 after purchasing an additional 38,238 shares during the period. Finally, Moody Aldrich Partners LLC purchased a new stake in Helmerich & Payne in the fourth quarter worth $7,306,000. 92.42% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on HP. Barclays reduced their target price on Helmerich & Payne from $65.00 to $52.00 in a research note on Tuesday, May 9th. The Goldman Sachs Group reduced their target price on Helmerich & Payne from $44.00 to $38.00 and set a “sell” rating on the stock in a research note on Monday, March 27th. Piper Sandler reduced their target price on Helmerich & Payne from $65.00 to $50.00 in a research note on Monday, May 1st. TheStreet upgraded Helmerich & Payne from a “c+” rating to a “b” rating in a research note on Monday, January 30th. Finally, Susquehanna reduced their target price on Helmerich & Payne from $72.00 to $55.00 in a research note on Monday, April 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $54.40.

Helmerich & Payne Price Performance

Shares of HP stock opened at $32.97 on Tuesday. Helmerich & Payne, Inc. has a 1-year low of $30.41 and a 1-year high of $54.59. The stock’s 50-day moving average is $34.71 and its 200 day moving average is $42.87. The company has a market cap of $3.38 billion, a P/E ratio of 10.85 and a beta of 1.65. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.43 and a quick ratio of 2.19.

Helmerich & Payne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Thursday, May 18th will be given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 5.88%. The ex-dividend date is Wednesday, May 17th. Helmerich & Payne’s payout ratio is currently 32.89%.

Helmerich & Payne Company Profile

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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.

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Institutional Ownership by Quarter for Helmerich & Payne (NYSE:HP)

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