Westpac Banking Corp Has $357,000 Stake in Helmerich & Payne, Inc. (HP)
Westpac Banking Corp decreased its position in Helmerich & Payne, Inc. (NYSE:HP) by 53.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,575 shares of the oil and gas company’s stock after selling 7,680 shares during the period. Westpac Banking Corp’s holdings in Helmerich & Payne were worth $357,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Ameritas Investment Partners Inc. purchased a new stake in shares of Helmerich & Payne in the 1st quarter valued at approximately $172,000. Marshall Wace North America L.P. purchased a new stake in shares of Helmerich & Payne in the 1st quarter valued at approximately $209,000. AlphaMark Advisors LLC grew its stake in shares of Helmerich & Payne by 3.1% in the 2nd quarter. AlphaMark Advisors LLC now owns 3,326 shares of the oil and gas company’s stock valued at $181,000 after buying an additional 101 shares during the period. Meridian Wealth Management LLC purchased a new stake in shares of Helmerich & Payne in the 1st quarter valued at approximately $236,000. Finally, ZWJ Investment Counsel Inc. purchased a new stake in shares of Helmerich & Payne in the 1st quarter valued at approximately $256,000.
Shares of Helmerich & Payne, Inc. (HP) opened at 50.19 on Friday. Helmerich & Payne, Inc. has a 12-month low of $42.16 and a 12-month high of $85.78. The firm’s market capitalization is $5.45 billion. The firm’s 50-day moving average is $46.17 and its 200-day moving average is $56.52.
Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, topping the 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 during the quarter, compared to the consensus estimate of $452.42 million. During the same period in the previous year, the firm earned ($0.20) earnings per share. Helmerich & Payne’s revenue for the quarter was up 36.0% on a year-over-year basis. Equities research analysts forecast that Helmerich & Payne, Inc. will post ($1.30) EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, November 13th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, November 10th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 5.58%. Helmerich & Payne’s payout ratio is currently -167.66%.
Several research firms have recently weighed in on HP. Goldman Sachs Group, Inc. (The) cut shares of Helmerich & Payne from a “neutral” rating to a “sell” rating and dropped their price target for the company from $63.00 to $45.00 in a research note on Monday, May 22nd. Royal Bank Of Canada reissued a “hold” rating and issued a $65.00 price target on shares of Helmerich & Payne in a research note on Thursday, July 20th. BidaskClub raised shares of Helmerich & Payne from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Zacks Investment Research cut shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, BMO Capital Markets dropped their price target on shares of Helmerich & Payne from $54.00 to $40.00 and set an “underperform” rating for the company in a research note on Friday, July 14th. Eight investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $57.32.
In other news, CEO John W. Lindsay bought 5,000 shares of Helmerich & Payne stock in a transaction dated Tuesday, September 12th. The shares were acquired at an average cost of $47.73 per share, with a total value of $238,650.00. Following the completion of the transaction, the chief executive officer now owns 147,727 shares in the company, valued at approximately $7,051,009.71. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.90% of the company’s stock.
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.
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