Allspring Global Investments Holdings LLC Boosts Position in Helmerich & Payne, Inc. (NYSE:HP)

Allspring Global Investments Holdings LLC increased its position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 8.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 371,369 shares of the oil and gas company's stock after buying an additional 30,426 shares during the period. Allspring Global Investments Holdings LLC owned about 0.38% of Helmerich & Payne worth $12,204,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Covestor Ltd increased its stake in Helmerich & Payne by 76.9% in the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company's stock valued at $45,000 after purchasing an additional 643 shares during the last quarter. Blue Trust Inc. increased its stake in Helmerich & Payne by 127.8% in the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company's stock valued at $46,000 after purchasing an additional 854 shares during the last quarter. Quarry LP purchased a new position in Helmerich & Payne in the third quarter valued at approximately $48,000. Eastern Bank purchased a new position in Helmerich & Payne in the third quarter valued at approximately $61,000. Finally, Steph & Co. purchased a new position in Helmerich & Payne in the fourth quarter valued at approximately $87,000. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Helmerich & Payne Stock Performance

Helmerich & Payne stock traded down $0.86 during trading hours on Friday, reaching $26.23. 1,382,556 shares of the stock were exchanged, compared to its average volume of 1,669,816. The stock has a market cap of $2.61 billion, a P/E ratio of 8.63, a P/E/G ratio of 3.32 and a beta of 1.37. The firm's 50 day moving average is $31.60 and its 200 day moving average is $32.92. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81. Helmerich & Payne, Inc. has a 52-week low of $25.69 and a 52-week high of $44.11.

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Helmerich & Payne (NYSE:HP - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.02. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. Analysts predict that Helmerich & Payne, Inc. will post 2.95 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.81%. Helmerich & Payne's dividend payout ratio (DPR) is presently 32.89%.

Analyst Upgrades and Downgrades

Several brokerages have commented on HP. Royal Bank of Canada dropped their price target on shares of Helmerich & Payne from $41.00 to $35.00 and set a "sector perform" rating on the stock in a research note on Friday, February 7th. Argus upgraded shares of Helmerich & Payne to a "hold" rating in a research note on Tuesday, February 11th. Evercore ISI restated an "in-line" rating and set a $39.00 target price (down from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Barclays lowered their target price on shares of Helmerich & Payne from $36.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Finally, Benchmark restated a "hold" rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $37.25.

Insider Activity at Helmerich & Payne

In other Helmerich & Payne news, Director Belgacem Chariag purchased 37,356 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were purchased at an average cost of $27.08 per share, for a total transaction of $1,011,600.48. Following the completion of the purchase, the director now directly owns 54,606 shares in the company, valued at $1,478,730.48. This represents a 216.56 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John W. Lindsay purchased 20,000 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average price of $27.55 per share, for a total transaction of $551,000.00. Following the completion of the purchase, the chief executive officer now owns 691,214 shares of the company's stock, valued at approximately $19,042,945.70. This represents a 2.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 4.51% of the company's stock.

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.