Helmerich & Payne, Inc. (HP) Position Boosted by Schroder Investment Management Group
Schroder Investment Management Group increased its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 5.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 769,747 shares of the oil and gas company’s stock after buying an additional 37,272 shares during the quarter. Schroder Investment Management Group owned about 0.71% of Helmerich & Payne worth $41,851,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HP. BlackRock Inc. lifted its position in Helmerich & Payne by 3,318.2% during the first quarter. BlackRock Inc. now owns 10,967,068 shares of the oil and gas company’s stock worth $730,077,000 after buying an additional 10,646,223 shares during the period. Artisan Partners Limited Partnership purchased a new position in Helmerich & Payne during the first quarter worth about $153,996,000. Investec Asset Management LTD lifted its position in Helmerich & Payne by 23.6% during the first quarter. Investec Asset Management LTD now owns 2,151,354 shares of the oil and gas company’s stock worth $143,216,000 after buying an additional 411,347 shares during the period. NN Investment Partners Holdings N.V. lifted its position in Helmerich & Payne by 50.4% during the second quarter. NN Investment Partners Holdings N.V. now owns 1,166,336 shares of the oil and gas company’s stock worth $63,378,000 after buying an additional 391,104 shares during the period. Finally, American Century Companies Inc. lifted its position in Helmerich & Payne by 18.7% during the second quarter. American Century Companies Inc. now owns 2,292,310 shares of the oil and gas company’s stock worth $124,564,000 after buying an additional 361,629 shares during the period.
Shares of Helmerich & Payne, Inc. (NYSE HP) opened at 45.48 on Friday. Helmerich & Payne, Inc. has a one year low of $42.16 and a one year high of $85.78. The company’s market cap is $4.94 billion. The company has a 50 day moving average price of $46.98 and a 200 day moving average price of $57.21.
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, beating the consensus estimate of ($0.30) by $0.05. Helmerich & Payne had a negative return on equity of 3.37% and a negative net margin of 11.19%. The firm had revenue of $498.60 million for the quarter, compared to analyst estimates of $452.42 million. During the same period in the previous year, the company posted ($0.20) earnings per share. The company’s quarterly revenue was up 36.0% compared to the same quarter last year. Equities research analysts expect that Helmerich & Payne, Inc. will post ($1.32) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 13th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 6.16%. The ex-dividend date is Friday, November 10th. Helmerich & Payne’s payout ratio is -167.66%.
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HP has been the topic of several recent analyst reports. Morgan Stanley downgraded Helmerich & Payne from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $85.00 to $56.00 in a research report on Wednesday, June 21st. BMO Capital Markets restated a “sell” rating and set a $54.00 price target on shares of Helmerich & Payne in a research note on Thursday, June 22nd. Cowen and Company restated a “hold” rating and set a $50.00 price target on shares of Helmerich & Payne in a research note on Friday, August 11th. Royal Bank Of Canada restated a “hold” rating and set a $53.00 price target on shares of Helmerich & Payne in a research note on Friday. Finally, Evercore ISI restated an “in-line” rating and set a $48.00 price target (down from $65.00) on shares of Helmerich & Payne in a research note on Tuesday, August 1st. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $55.00.
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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