Oppenheimer & Co. Inc. purchased a new stake in shares of Helmerich & Payne, Inc. (NYSE:HP) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 9,067 shares of the oil and gas company’s stock, valued at approximately $504,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Park National Corp OH lifted its position in Helmerich & Payne by 43.5% during the first quarter. Park National Corp OH now owns 35,701 shares of the oil and gas company’s stock worth $1,984,000 after buying an additional 10,826 shares in the last quarter. Northern Trust Corp raised its position in Helmerich & Payne by 0.5% in the fourth quarter. Northern Trust Corp now owns 1,240,419 shares of the oil and gas company’s stock valued at $59,467,000 after purchasing an additional 5,944 shares during the period. Highland Capital Management LLC purchased a new stake in Helmerich & Payne in the fourth quarter valued at $4,212,000. Grace & White Inc. NY raised its position in Helmerich & Payne by 1.4% in the fourth quarter. Grace & White Inc. NY now owns 201,137 shares of the oil and gas company’s stock valued at $9,642,000 after purchasing an additional 2,700 shares during the period. Finally, Meeder Asset Management Inc. raised its position in Helmerich & Payne by 92.4% in the fourth quarter. Meeder Asset Management Inc. now owns 24,895 shares of the oil and gas company’s stock valued at $1,192,000 after purchasing an additional 11,957 shares during the period. 90.64% of the stock is currently owned by institutional investors.
Shares of NYSE:HP traded up $1.76 on Wednesday, hitting $51.00. 1,832,002 shares of the company’s stock were exchanged, compared to its average volume of 1,011,230. The stock has a market cap of $5.52 billion, a P/E ratio of 364.29 and a beta of 1.52. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 2.80. Helmerich & Payne, Inc. has a 1-year low of $44.56 and a 1-year high of $73.74.
Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, April 24th. The oil and gas company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.18. The firm had revenue of $720.87 million during the quarter, compared to analysts’ expectations of $712.29 million. Helmerich & Payne had a return on equity of 2.95% and a net margin of 2.65%. The business’s revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.05) EPS. On average, equities research analysts predict that Helmerich & Payne, Inc. will post 1.69 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 5.57%. The ex-dividend date is Friday, May 10th. Helmerich & Payne’s dividend payout ratio is presently 2,028.57%.
HP has been the topic of a number of research analyst reports. Seaport Global Securities restated a “hold” rating on shares of Helmerich & Payne in a research report on Wednesday, January 30th. Goldman Sachs Group initiated coverage on Helmerich & Payne in a research report on Sunday, March 10th. They issued a “neutral” rating and a $65.00 target price on the stock. Piper Jaffray Companies restated a “hold” rating and issued a $62.00 target price on shares of Helmerich & Payne in a research report on Tuesday, February 5th. Jefferies Financial Group downgraded Helmerich & Payne from a “buy” rating to a “hold” rating and cut their price objective for the company from $64.00 to $56.00 in a report on Friday, March 15th. Finally, BMO Capital Markets set a $60.00 price objective on Helmerich & Payne and gave the company a “hold” rating in a report on Tuesday, February 5th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $66.47.
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About Helmerich & Payne
Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.
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