Helmerich & Payne, Inc. (NYSE:HP) Shares Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC boosted its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 66.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 197,672 shares of the oil and gas company’s stock after acquiring an additional 78,983 shares during the period. Wedge Capital Management L L P NC owned 0.20% of Helmerich & Payne worth $7,160,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Earnest Partners LLC boosted its holdings in Helmerich & Payne by 4.0% in the third quarter. Earnest Partners LLC now owns 2,929,498 shares of the oil and gas company’s stock valued at $123,508,000 after purchasing an additional 113,735 shares during the period. Pacer Advisors Inc. raised its holdings in Helmerich & Payne by 130.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,720,464 shares of the oil and gas company’s stock valued at $98,535,000 after acquiring an additional 1,541,987 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Helmerich & Payne by 13,372.8% during the 3rd quarter. Victory Capital Management Inc. now owns 2,418,364 shares of the oil and gas company’s stock worth $101,958,000 after acquiring an additional 2,400,414 shares in the last quarter. Boston Trust Walden Corp increased its position in shares of Helmerich & Payne by 1.6% in the 4th quarter. Boston Trust Walden Corp now owns 2,214,742 shares of the oil and gas company’s stock valued at $80,218,000 after purchasing an additional 34,863 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Helmerich & Payne by 10.7% in the 3rd quarter. Invesco Ltd. now owns 1,970,140 shares of the oil and gas company’s stock valued at $83,061,000 after purchasing an additional 190,134 shares in the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Price Performance

HP opened at $42.33 on Wednesday. Helmerich & Payne, Inc. has a 1 year low of $30.41 and a 1 year high of $46.55. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.89 and a current ratio of 2.11. The company’s 50 day simple moving average is $40.60 and its 200 day simple moving average is $38.68. The stock has a market capitalization of $4.18 billion, a PE ratio of 10.10, a P/E/G ratio of 1.98 and a beta of 1.51.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Tuesday, January 30th. The oil and gas company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.24. Helmerich & Payne had a net margin of 15.27% and a return on equity of 15.06%. The business had revenue of $677.00 million for the quarter, compared to analyst estimates of $661.81 million. During the same quarter in the previous year, the business posted $1.11 EPS. The business’s quarterly revenue was down 6.0% on a year-over-year basis. As a group, sell-side analysts expect that Helmerich & Payne, Inc. will post 3.59 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Thursday, May 16th. Helmerich & Payne’s dividend payout ratio is presently 23.87%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HP. Piper Sandler upped their price target on Helmerich & Payne from $41.00 to $44.00 and gave the company a “neutral” rating in a report on Tuesday, February 20th. Barclays cut Helmerich & Payne from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $44.00 to $40.00 in a research report on Wednesday, January 10th. The Goldman Sachs Group decreased their price target on Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating for the company in a report on Friday, January 12th. Benchmark lowered shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Finally, Royal Bank of Canada upped their price objective on shares of Helmerich & Payne from $46.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Helmerich & Payne has a consensus rating of “Hold” and a consensus price target of $42.88.

Helmerich & Payne Company Profile

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.