Marshall Wace LLP Purchases Shares of 9,273 Helmerich & Payne, Inc. (HP)
Marshall Wace LLP purchased a new position in shares of Helmerich & Payne, Inc. (NYSE:HP) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 9,273 shares of the oil and gas company’s stock, valued at approximately $591,000.
Other institutional investors also recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC acquired a new position in Helmerich & Payne during the 2nd quarter worth approximately $134,000. Rampart Investment Management Company LLC lifted its position in Helmerich & Payne by 84.3% during the 1st quarter. Rampart Investment Management Company LLC now owns 2,453 shares of the oil and gas company’s stock worth $163,000 after acquiring an additional 1,122 shares in the last quarter. Viking Fund Management LLC acquired a new position in Helmerich & Payne during the 2nd quarter worth approximately $159,000. Independent Advisor Alliance acquired a new position in Helmerich & Payne during the 2nd quarter worth approximately $207,000. Finally, Argus Investors Counsel Inc. acquired a new position in Helmerich & Payne during the 2nd quarter worth approximately $243,000. 91.94% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Chapman Paula Marshall sold 11,309 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $65.13, for a total value of $736,555.17. Following the completion of the sale, the director now directly owns 14,874 shares in the company, valued at approximately $968,743.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.10% of the stock is currently owned by insiders.
Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, July 25th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.04). Helmerich & Payne had a negative return on equity of 0.37% and a net margin of 19.70%. The business had revenue of $648.87 million for the quarter, compared to analysts’ expectations of $617.06 million. During the same quarter in the prior year, the firm earned ($0.25) earnings per share. Helmerich & Payne’s revenue for the quarter was up 30.1% compared to the same quarter last year. equities analysts forecast that Helmerich & Payne, Inc. will post 0.02 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Monday, November 12th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.22%. Helmerich & Payne’s dividend payout ratio (DPR) is -223.62%.
Several research firms recently commented on HP. ValuEngine lowered Helmerich & Payne from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Cowen set a $57.00 price objective on Helmerich & Payne and gave the stock a “hold” rating in a report on Monday, July 30th. Jefferies Financial Group upgraded Helmerich & Payne from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a report on Tuesday, June 19th. Piper Jaffray Companies set a $67.00 price objective on Helmerich & Payne and gave the stock a “hold” rating in a report on Sunday, July 29th. Finally, JPMorgan Chase & Co. lifted their price objective on Helmerich & Payne from $47.00 to $49.00 and gave the stock an “underweight” rating in a report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $67.93.
About Helmerich & Payne
Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.
Featured Story: What is a Leveraged Buyout (LBO)?
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).
Receive News & Ratings for Helmerich & Payne Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Helmerich & Payne and related companies with MarketBeat.com's FREE daily email newsletter.