5 Best Performing Growth Stocks in 2022

3. Helmerich & Payne, Inc. (NYSE:HP)

Number of Hedge Fund Holders: 30

YTD Share Price Gain in 2022 as of December 29: 106.1%

P/E Ratio as of December 29: 949.40

Helmerich & Payne, Inc. (NYSE:HP) was founded in 1920 and is headquartered in Tulsa, Oklahoma. The company provides drilling services and solutions for exploration and production companies. The company operates through three segments – North America Solutions, Offshore Gulf of Mexico, and International Solutions. Despite falling short of FQ4 earnings expectations, analysts focused on Helmerich & Payne, Inc. (NYSE:HP)’s improving margins and commitment to return cash to shareholders.

On November 18, Susquehanna analyst Charles Minervino raised the price target on Helmerich & Payne, Inc. (NYSE:HP) to $65 from $62 and kept a Positive rating on the shares. The analyst said day rates, margins, and activity are all trending well, which supports his upward EBITDA revisions.

According to Insider Monkey’s data, 30 hedge funds were long Helmerich & Payne, Inc. (NYSE:HP) at the end of Q3 2022, compared to 26 funds in the prior quarter. Ken Fisher’s Fisher Asset Management is the largest stakeholder of the company, with 1 million shares worth $37.4 million. 

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