Monroe Bank & Trust MI boosted its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 9.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,436 shares of the oil and gas company’s stock after buying an additional 2,009 shares during the period. Monroe Bank & Trust MI’s holdings in Helmerich & Payne were worth $1,273,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in HP. Toronto Dominion Bank increased its position in shares of Helmerich & Payne by 57.0% in the first quarter. Toronto Dominion Bank now owns 29,291 shares of the oil and gas company’s stock worth $1,950,000 after buying an additional 10,637 shares during the period. Bristlecone Advisors LLC increased its position in shares of Helmerich & Payne by 2.6% in the first quarter. Bristlecone Advisors LLC now owns 19,180 shares of the oil and gas company’s stock worth $1,277,000 after buying an additional 495 shares during the period. Smith Asset Management Group LP increased its position in shares of Helmerich & Payne by 1.0% in the first quarter. Smith Asset Management Group LP now owns 209,207 shares of the oil and gas company’s stock worth $13,941,000 after buying an additional 2,027 shares during the period. US Bancorp DE increased its position in shares of Helmerich & Payne by 33.6% in the first quarter. US Bancorp DE now owns 303,054 shares of the oil and gas company’s stock worth $20,174,000 after buying an additional 76,291 shares during the period. Finally, Denver Investment Advisors LLC increased its position in shares of Helmerich & Payne by 0.5% in the first quarter. Denver Investment Advisors LLC now owns 26,805 shares of the oil and gas company’s stock worth $1,784,000 after buying an additional 124 shares during the period.

Helmerich & Payne, Inc. (NYSE:HP) traded up 1.34% during trading on Friday, hitting $44.78. The company had a trading volume of 1,649,496 shares. Helmerich & Payne, Inc. has a 52-week low of $43.00 and a 52-week high of $85.78. The firm’s 50 day moving average is $49.93 and its 200-day moving average is $58.82. The stock’s market capitalization is $4.86 billion.

Helmerich & Payne (NYSE:HP) last posted 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. Helmerich & Payne had a negative net margin of 11.19% and a negative return on equity of 3.37%. The company had revenue of $498.60 million for the quarter, compared to the consensus estimate of $452.42 million. During the same period last year, the firm posted ($0.20) EPS. The company’s revenue for the quarter was up 36.0% on a year-over-year basis. On average, equities analysts forecast that Helmerich & Payne, Inc. will post ($1.32) earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be given a $0.70 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.25%. Helmerich & Payne’s payout ratio is currently -167.66%.

ILLEGAL ACTIVITY WARNING: This news story was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another domain, it was stolen and republished in violation of United States and international copyright & trademark laws. The correct version of this news story can be viewed at https://www.thecerbatgem.com/2017/08/27/monroe-bank-trust-mi-raises-position-in-helmerich-payne-inc-hp.html.

A number of brokerages recently commented on HP. Cowen and Company reissued a “hold” rating and issued a $50.00 price objective on shares of Helmerich & Payne in a research note on Friday, August 11th. Evercore ISI reissued an “in-line” rating and issued a $48.00 price objective (down previously from $65.00) on shares of Helmerich & Payne in a research note on Tuesday, August 1st. Iberia Capital downgraded shares of Helmerich & Payne from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $74.00 to $55.00 in a research note on Monday, July 31st. UBS AG reissued a “buy” rating and issued a $60.00 price objective (down previously from $84.00) on shares of Helmerich & Payne in a research note on Monday, July 31st. Finally, BidaskClub downgraded shares of Helmerich & Payne from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Seven research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $56.77.

About Helmerich & Payne

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.

Want to see what other hedge funds are holding HP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Helmerich & Payne, Inc. (NYSE:HP).

Institutional Ownership by Quarter for Helmerich & Payne (NYSE:HP)

Receive News & Stock Ratings for Helmerich & Payne Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Helmerich & Payne Inc. and related stocks with our FREE daily email newsletter.