AlphaCrest Capital Management LLC bought a new position in shares of Helmerich & Payne, Inc. (NYSE:HP – Get Rating) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,129 shares of the oil and gas company’s stock, valued at approximately $596,000.
Several other hedge funds also recently made changes to their positions in HP. Sugarloaf Wealth Management LLC lifted its position in Helmerich & Payne by 91.9% during the third quarter. Sugarloaf Wealth Management LLC now owns 1,351 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 647 shares during the period. CastleArk Alternatives LLC acquired a new stake in shares of Helmerich & Payne during the 2nd quarter worth approximately $381,000. Cullen Capital Management LLC boosted its position in shares of Helmerich & Payne by 11.4% during the 3rd quarter. Cullen Capital Management LLC now owns 8,996 shares of the oil and gas company’s stock worth $333,000 after acquiring an additional 922 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Helmerich & Payne in the third quarter valued at approximately $1,860,000. Finally, DCM Advisors LLC acquired a new position in Helmerich & Payne during the second quarter valued at approximately $235,000. 92.42% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on HP shares. Benchmark started coverage on Helmerich & Payne in a research note on Thursday, January 19th. They issued a “hold” rating on the stock. Bank of America upgraded Helmerich & Payne from a “neutral” rating to a “buy” rating in a research report on Monday, January 9th. ATB Capital increased their target price on shares of Helmerich & Payne to $71.00 in a report on Monday, November 21st. Evercore ISI raised their price target on shares of Helmerich & Payne to $67.00 in a research note on Monday, November 21st. Finally, StockNews.com upgraded shares of Helmerich & Payne from a “hold” rating to a “buy” rating in a research report on Tuesday, January 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.91.
Helmerich & Payne Trading Down 2.2 %
Helmerich & Payne (NYSE:HP – Get Rating) last posted its quarterly earnings data on Tuesday, January 31st. The oil and gas company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.30. The business had revenue of $719.60 million during the quarter, compared to the consensus estimate of $699.92 million. Helmerich & Payne had a return on equity of 6.43% and a net margin of 6.56%. Helmerich & Payne’s quarterly revenue was up 75.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.45) earnings per share. As a group, equities analysts forecast that Helmerich & Payne, Inc. will post 4.77 EPS for the current year.
Helmerich & Payne Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Thursday, May 18th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Wednesday, May 17th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.54%. Helmerich & Payne’s dividend payout ratio (DPR) is 69.44%.
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.
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