Weik Investment Services Inc. Maintains Position in Helmerich & Payne, Inc. (HP)
Weik Investment Services Inc. held its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,900 shares of the oil and gas company’s stock at the end of the second quarter. Weik Investment Services Inc.’s holdings in Helmerich & Payne were worth $321,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in HP. Capital International Investors raised its position in shares of Helmerich & Payne by 33.5% during the 2nd quarter. Capital International Investors now owns 5,849,715 shares of the oil and gas company’s stock worth $317,874,000 after purchasing an additional 1,466,700 shares during the last quarter. Royal Bank of Canada boosted its holdings in Helmerich & Payne by 5.5% in the 2nd quarter. Royal Bank of Canada now owns 62,659 shares of the oil and gas company’s stock worth $3,404,000 after buying an additional 3,264 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in Helmerich & Payne in the 2nd quarter worth about $1,238,000. Graham Capital Management L.P. purchased a new stake in Helmerich & Payne during the 2nd quarter worth approximately $543,000. Finally, Brandywine Global Investment Management LLC increased its stake in Helmerich & Payne by 2,253.8% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 2,147,944 shares of the oil and gas company’s stock worth $116,720,000 after buying an additional 2,056,689 shares in the last quarter.
Shares of Helmerich & Payne, Inc. (NYSE:HP) traded down 1.27% on Tuesday, reaching $50.61. 487,643 shares of the company’s stock traded hands. Helmerich & Payne, Inc. has a 52 week low of $42.16 and a 52 week high of $85.78. The stock’s 50-day moving average price is $47.13 and its 200-day moving average price is $55.00. The stock’s market capitalization is $5.50 billion.
Helmerich & Payne (NYSE:HP) last released its earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) EPS for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $452.42 million. During the same period in the prior year, the firm posted ($0.20) earnings per share. The business’s quarterly revenue was up 36.0% compared to the same quarter last year. Equities analysts predict that Helmerich & Payne, Inc. will post ($1.30) EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 13th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date is Friday, November 10th. Helmerich & Payne’s payout ratio is -167.66%.
In other Helmerich & Payne news, CEO John W. Lindsay purchased 5,000 shares of the stock in a transaction on Tuesday, September 12th. The stock was bought at an average price of $47.73 per share, for a total transaction of $238,650.00. Following the acquisition, the chief executive officer now directly owns 147,727 shares of the company’s stock, valued at $7,051,009.71. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.23% of the stock is currently owned by company insiders.
A number of equities analysts have commented on HP shares. J P Morgan Chase & Co reduced their target price on Helmerich & Payne from $44.00 to $38.00 and set an “underweight” rating for the company in a report on Tuesday, September 12th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $53.00 price target (down from $65.00) on shares of Helmerich & Payne in a research note on Friday, September 8th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $66.00 price target on shares of Helmerich & Payne in a research note on Wednesday, September 6th. Societe Generale assumed coverage on Helmerich & Payne in a research report on Thursday, August 31st. They set a “hold” rating and a $46.00 price target for the company. Finally, Cowen and Company reiterated a “hold” rating and set a $50.00 price target on shares of Helmerich & Payne in a research report on Friday, August 11th. Eight analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $57.32.
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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