Profund Advisors LLC Decreases Holdings in Helmerich & Payne, Inc. (HP)
Profund Advisors LLC trimmed its position in Helmerich & Payne, Inc. (NYSE:HP) by 12.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,801 shares of the oil and gas company’s stock after selling 1,237 shares during the quarter. Profund Advisors LLC’s holdings in Helmerich & Payne were worth $478,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of HP. BlackRock Inc. increased its position in Helmerich & Payne by 3,318.2% during the 1st 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 bought a new stake in shares of Helmerich & Payne in the first quarter valued at about $153,996,000. Kiltearn Partners LLP boosted its position in shares of Helmerich & Payne by 165.0% in the second quarter. Kiltearn Partners LLP now owns 2,289,302 shares of the oil and gas company’s stock valued at $124,401,000 after acquiring an additional 1,425,513 shares during the period. Franklin Resources Inc. boosted its position in shares of Helmerich & Payne by 2,514.0% in the second quarter. Franklin Resources Inc. now owns 738,254 shares of the oil and gas company’s stock valued at $40,118,000 after acquiring an additional 710,012 shares during the period. Finally, Investec Asset Management LTD boosted its position in shares of Helmerich & Payne by 23.6% in the first quarter. Investec Asset Management LTD now owns 2,151,354 shares of the oil and gas company’s stock valued at $143,216,000 after acquiring an additional 411,347 shares during the period.
In related news, CEO John W. Lindsay bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was bought at an average cost of $47.73 per share, for a total transaction of $238,650.00. Following the completion of the transaction, the chief executive officer now owns 147,727 shares of the company’s stock, valued at $7,051,009.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.23% of the company’s stock.
Helmerich & Payne, Inc. (NYSE:HP) opened at 52.11 on Monday. The firm’s market capitalization is $5.66 billion. The stock’s 50 day moving average is $46.08 and its 200 day moving average is $56.06. Helmerich & Payne, Inc. has a one year low of $42.16 and a one year high of $85.78.
Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.05. The firm 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 quarter in the prior year, the firm earned ($0.20) EPS. On average, equities research analysts predict that Helmerich & Payne, Inc. will post ($1.30) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders 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 dividend yield of 5.37%. The ex-dividend date is Friday, November 10th. Helmerich & Payne’s dividend payout ratio is currently -167.66%.
Several equities analysts recently commented on HP shares. J P Morgan Chase & Co decreased their price target on shares of Helmerich & Payne from $44.00 to $38.00 and set an “underweight” rating on the stock in a research note on Tuesday, September 12th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $53.00 price target (down from $65.00) on shares of Helmerich & Payne in a research report on Friday, September 8th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $66.00 price objective on shares of Helmerich & Payne in a research note on Wednesday, September 6th. Societe Generale assumed coverage on shares of Helmerich & Payne in a research note on Thursday, August 31st. They issued a “hold” rating and a $46.00 price objective for the company. Finally, Cowen and Company reissued a “hold” rating and issued a $50.00 price objective on shares of Helmerich & Payne in a report on Friday, August 11th. Eight equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. Helmerich & Payne currently has a consensus rating of “Hold” and an average price target of $57.32.
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Helmerich & Payne 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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