Helmerich & Payne, Inc. (HP) Position Increased by Teachers Advisors LLC
Teachers Advisors LLC raised its stake in Helmerich & Payne, Inc. (NYSE:HP) by 5.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,850 shares of the oil and gas company’s stock after buying an additional 8,227 shares during the period. Teachers Advisors LLC owned about 0.15% of Helmerich & Payne worth $10,841,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of HP. Artisan Partners Limited Partnership acquired a new stake in Helmerich & Payne during the first quarter valued at approximately $153,996,000. American Century Companies Inc. raised its stake in Helmerich & Payne by 380.2% in the first quarter. American Century Companies Inc. now owns 1,930,681 shares of the oil and gas company’s stock valued at $128,525,000 after buying an additional 1,528,604 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Helmerich & Payne by 13.6% in the first quarter. Bank of New York Mellon Corp now owns 3,374,223 shares of the oil and gas company’s stock valued at $224,623,000 after buying an additional 405,024 shares during the last quarter. Reinhart Partners Inc. acquired a new stake in Helmerich & Payne during the first quarter valued at approximately $24,173,000. Finally, Sei Investments Co. raised its stake in Helmerich & Payne by 184.6% in the first quarter. Sei Investments Co. now owns 410,222 shares of the oil and gas company’s stock valued at $27,309,000 after buying an additional 266,101 shares during the last quarter.
Helmerich & Payne, Inc. (NYSE:HP) traded up 1.27% on Friday, reaching $43.70. 1,586,168 shares of the company traded hands. Helmerich & Payne, Inc. has a 1-year low of $43.00 and a 1-year high of $85.78. The stock has a 50 day moving average of $51.28 and a 200-day moving average of $59.76. The stock’s market capitalization is $4.74 billion.
Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.05. The company had revenue of $498.60 million for the quarter, compared to analyst estimates of $452.42 million. Helmerich & Payne had a negative net margin of 11.19% and a negative return on equity of 3.37%. The business’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.20) earnings per share. On average, equities analysts anticipate that Helmerich & Payne, Inc. will post ($1.32) EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 6.41%. Helmerich & Payne’s dividend payout ratio (DPR) is presently -167.66%.
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Several research analysts have recently issued reports on HP shares. Iberia Capital downgraded shares of Helmerich & Payne from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $74.00 to $55.00 in a research note on Monday, July 31st. BidaskClub upgraded shares of Helmerich & Payne from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Credit Suisse Group reiterated a “hold” rating and issued a $63.00 target price on shares of Helmerich & Payne in a research note on Tuesday, May 2nd. BMO Capital Markets dropped their target price on shares of Helmerich & Payne from $54.00 to $40.00 and set an “underperform” rating on the stock in a research note on Friday, July 14th. Finally, Goldman Sachs Group, Inc. (The) cut shares of Helmerich & Payne from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $63.00 to $45.00 in a report on Monday, May 22nd. Seven research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. Helmerich & Payne presently has an average rating of “Hold” and a consensus price target of $56.77.
Helmerich & Payne Company Profile
Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.
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