State Farm Maintains 8.30% Stake in Helmerich & Payne
Ticker: HP · Form: SC 13G/A · Filed: Feb 12, 2024 · CIK: 46765
| Field | Detail |
|---|---|
| Company | Helmerich & Payne, INC. (HP) |
| Form Type | SC 13G/A |
| Filed Date | Feb 12, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investing
TL;DR
**State Farm still owns 8.30% of Helmerich & Payne, showing continued institutional confidence.**
AI Summary
State Farm Mutual Automobile Insurance Company, a major institutional investor, has updated its holdings in Helmerich & Payne, Inc. (HP) as of December 31, 2023. The filing, an SC 13G/A Amendment No. 39, shows State Farm beneficially owns 8,257,200 shares, representing 8.30% of the company's common stock. This matters to investors because it indicates a significant, long-term institutional stake in the oil and gas drilling company, suggesting confidence from a large, stable entity.
Why It Matters
This filing confirms a large institutional investor's continued significant ownership in Helmerich & Payne, which can be a signal of stability and long-term confidence in the company's prospects.
Risk Assessment
Risk Level: low — This filing indicates a stable, long-term institutional holding, which generally reduces perceived risk for other investors.
Analyst Insight
Investors should note the continued significant institutional ownership by State Farm, which can signal long-term stability, but this filing alone doesn't suggest immediate price action. It's a data point for long-term conviction.
Key Numbers
- 8,257,200 — Shares Beneficially Owned (This is the total number of shares of Helmerich & Payne common stock State Farm holds.)
- 8.30% — Percent of Class (This represents State Farm's significant ownership stake in Helmerich & Payne.)
- 39 — Amendment Number (This indicates that State Farm has filed many updates to its holdings in Helmerich & Payne over time.)
Key Players & Entities
- State Farm Mutual Automobile Insurance Company (company) — the reporting person and institutional investor
- Helmerich & Payne, Inc. (company) — the issuer whose shares are being reported
- 8,257,200 (dollar_amount) — number of shares beneficially owned by State Farm
- 8.30% (dollar_amount) — percentage of Helmerich & Payne's class of securities owned by State Farm
- December 31, 2023 (date) — date of the event requiring the filing
Forward-Looking Statements
- State Farm will likely maintain a significant, stable stake in Helmerich & Payne for the foreseeable future. (State Farm Mutual Automobile Insurance Company) — high confidence, target: 2025-12-31
FAQ
What is the primary purpose of this SC 13G/A filing?
The primary purpose of this SC 13G/A filing is for State Farm Mutual Automobile Insurance Company to update its beneficial ownership of common stock in Helmerich & Payne, Inc. as of December 31, 2023, as required by the Securities Exchange Act of 1934 (Amendment No. 39).
How many shares of Helmerich & Payne, Inc. common stock does State Farm beneficially own, and what percentage of the class does this represent?
State Farm Mutual Automobile Insurance Company beneficially owns 8,257,200 shares of Helmerich & Payne, Inc. common stock, which represents 8.30% of the class, as stated in Row 9 and Row 11 of the Schedule 13G.
What type of voting and dispositive power does State Farm have over these shares?
State Farm Mutual Automobile Insurance Company has sole voting power over 8,257,200 shares and sole dispositive power over 8,257,200 shares, with zero shared voting or dispositive power, as detailed in Rows 5, 6, 7, and 8 of the Schedule 13G.
When was the event date that triggered this filing?
The date of the event which requires the filing of this statement was December 31, 2023, as indicated on the first page of the Schedule 13G.
Under which Rule of the Securities Exchange Act of 1934 is this Schedule 13G filed?
This Schedule 13G is filed under Rule 13d-1(b) of the Securities Exchange Act of 1934, as indicated by the 'x' in the appropriate box on the first page of the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 12, 2024 regarding Helmerich & Payne, Inc. (HP).