State of New Jersey Common Pension Fund D Sells 24,840 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Posted by Defense World Staff on Apr 23rd, 2023

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP – Get Rating) by 28.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 61,925 shares of the oil and gas company’s stock after selling 24,840 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of Helmerich & Payne worth $3,070,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in Helmerich & Payne by 2.2% during the 1st quarter. JPMorgan Chase & Co. now owns 328,890 shares of the oil and gas company’s stock worth $14,071,000 after acquiring an additional 7,160 shares during the last quarter. Raymond James & Associates boosted its position in Helmerich & Payne by 3.9% during the 1st quarter. Raymond James & Associates now owns 18,667 shares of the oil and gas company’s stock worth $799,000 after acquiring an additional 709 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Helmerich & Payne during the 1st quarter worth approximately $353,000. HighTower Advisors LLC boosted its position in Helmerich & Payne by 4.2% during the 1st quarter. HighTower Advisors LLC now owns 18,629 shares of the oil and gas company’s stock worth $799,000 after acquiring an additional 743 shares during the last quarter. Finally, Private Advisor Group LLC acquired a new position in Helmerich & Payne during the 1st quarter worth approximately $272,000. 92.42% of the stock is owned by institutional investors.

Helmerich & Payne Stock Down 1.1 %

HP stock opened at $35.99 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.30 and a quick ratio of 2.10. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 24.99 and a beta of 1.65. The business’s fifty day moving average price is $38.97 and its two-hundred day moving average price is $44.72. Helmerich & Payne, Inc. has a fifty-two week low of $32.69 and a fifty-two week high of $54.59.

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, topping the consensus estimate of $0.81 by $0.30. The firm had revenue of $719.60 million for the quarter, compared to analysts’ expectations of $699.92 million. Helmerich & Payne had a return on equity of 6.43% and a net margin of 6.56%. The company’s quarterly revenue was up 75.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.45) EPS. On average, equities analysts anticipate that Helmerich & Payne, Inc. will post 4.59 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Thursday, May 18th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 5.39%. The ex-dividend date is Wednesday, May 17th. Helmerich & Payne’s payout ratio is 69.44%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on HP shares. Bank of America raised Helmerich & Payne from a “neutral” rating to a “buy” rating in a report on Monday, January 9th. Benchmark started coverage on Helmerich & Payne in a report on Thursday, January 19th. They issued a “hold” rating for the company. StockNews.com downgraded Helmerich & Payne from a “buy” rating to a “hold” rating in a report on Saturday. TheStreet raised Helmerich & Payne from a “c+” rating to a “b” rating in a report on Monday, January 30th. Finally, Morgan Stanley downgraded Helmerich & Payne from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $60.00 to $45.00 in a report on Tuesday, April 18th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $58.50.

Helmerich & Payne Profile

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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.