Franklin Resources Inc. Purchases 4,911 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Posted by on Jun 2nd, 2023

Franklin Resources Inc. lifted its position in shares of Helmerich & Payne, Inc. (NYSE:HP – Get Rating) by 3.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 160,034 shares of the oil and gas company’s stock after purchasing an additional 4,911 shares during the quarter. Franklin Resources Inc. owned about 0.15% of Helmerich & Payne worth $7,933,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Weik Capital Management bought a new stake in Helmerich & Payne in the fourth quarter worth $204,000. Advisor Group Holdings Inc. boosted its holdings in Helmerich & Payne by 3.2% in the fourth quarter. Advisor Group Holdings Inc. now owns 32,291 shares of the oil and gas company’s stock worth $1,601,000 after acquiring an additional 1,009 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Helmerich & Payne by 1,017.4% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,481 shares of the oil and gas company’s stock worth $321,000 after acquiring an additional 5,901 shares in the last quarter. Qsemble Capital Management LP bought a new stake in Helmerich & Payne in the fourth quarter worth $337,000. Finally, Saturna Capital CORP bought a new stake in Helmerich & Payne in the fourth quarter worth $264,000. 92.42% of the stock is currently owned by institutional investors.

Helmerich & Payne Stock Performance

Shares of HP opened at $31.73 on Friday. The company has a quick ratio of 2.19, a current ratio of 2.43 and a debt-to-equity ratio of 0.20. The business has a 50-day simple moving average of $34.27 and a two-hundred day simple moving average of $41.96. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 10.44 and a beta of 1.66. Helmerich & Payne, Inc. has a 52 week low of $30.41 and a 52 week high of $54.59.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. The Goldman Sachs Group dropped their target price on Helmerich & Payne from $44.00 to $38.00 and set a “sell” rating on the stock in a report on Monday, March 27th. Susquehanna lowered their price target on Helmerich & Payne from $72.00 to $55.00 in a report on Monday, April 3rd. StockNews.com downgraded Helmerich & Payne from a “buy” rating to a “hold” rating in a report on Monday, May 15th. Morgan Stanley downgraded Helmerich & Payne from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $60.00 to $45.00 in a report on Tuesday, April 18th. Finally, Barclays lowered their price target on Helmerich & Payne from $65.00 to $52.00 in a report on Tuesday, May 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $54.40.

About Helmerich & Payne

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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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