Sun Sep 15 10:56:54 UTC 2024: ## Texas School Fund Invests Heavily in Oil and Gas Company Helmerich & Payne

**New York, NY -** Texas Permanent School Fund Corp has significantly boosted its investment in oil and gas drilling company Helmerich & Payne, Inc. (NYSE: HP) by 25.1% in the second quarter of 2024, according to a recent SEC filing. The fund now owns 108,225 shares of the company, worth approximately $3.9 million.

This move comes alongside several other institutional investors making significant changes to their holdings in Helmerich & Payne. Notably, Earnest Partners LLC increased its stake by 5.5%, Boston Trust Walden Corp by 1.3%, and ARGA Investment Management LP by a whopping 55.4%. LSV Asset Management and Wellington Management Group LLP also saw substantial increases in their holdings.

This flurry of activity suggests that institutional investors are increasingly bullish on Helmerich & Payne, a company known for its commitment to drilling productivity and reliability. The company currently boasts a market capitalization of $2.95 billion and a P/E ratio of 8.53.

Helmerich & Payne also recently announced a quarterly dividend of $0.25 per share, payable on December 2nd. The company’s strong financial performance and the recent positive sentiment from institutional investors could make it an attractive investment for those seeking exposure to the energy sector.

While some analysts remain cautious, with a “Hold” rating on the stock, others are more optimistic. Evercore ISI has issued a “Strong Buy” rating, and Bank of America maintains a “Buy” rating. The average target price for the stock currently sits at $40.88.

The company’s future success will likely hinge on its ability to navigate a volatile energy market and maintain its commitment to innovation. With a focus on delivering results for both its customers and shareholders, Helmerich & Payne appears well-positioned to capitalize on the continued growth of the oil and gas industry.

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