Arizona State Retirement System lifted its stake in shares of Helmerich & Payne, Inc. (NYSE:HP – Get Rating) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,710 shares of the oil and gas company’s stock after purchasing an additional 1,098 shares during the period. Arizona State Retirement System’s holdings in Helmerich & Payne were worth $1,473,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Hanseatic Management Services Inc. bought a new position in Helmerich & Payne in the 3rd quarter worth approximately $32,000. CENTRAL TRUST Co bought a new position in Helmerich & Payne in the 4th quarter valued at $44,000. Castleview Partners LLC bought a new position in Helmerich & Payne in the 4th quarter valued at $69,000. Macquarie Group Ltd. boosted its holdings in Helmerich & Payne by 35.3% in the 2nd quarter. Macquarie Group Ltd. now owns 1,936 shares of the oil and gas company’s stock valued at $83,000 after purchasing an additional 505 shares during the period. Finally, Wipfli Financial Advisors LLC bought a new position in Helmerich & Payne in the 3rd quarter valued at $72,000. Hedge funds and other institutional investors own 92.42% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. StockNews.com raised shares of Helmerich & Payne from a “hold” rating to a “buy” rating in a report on Sunday, April 30th. Barclays dropped their price objective on shares of Helmerich & Payne from $65.00 to $52.00 in a report on Tuesday. Morgan Stanley downgraded shares of Helmerich & Payne from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $60.00 to $45.00 in a report on Tuesday, April 18th. Benchmark began coverage on shares of Helmerich & Payne in a report on Thursday, January 19th. They set a “hold” rating for the company. Finally, Susquehanna dropped their price objective on shares of Helmerich & Payne from $72.00 to $55.00 in a report on Monday, April 3rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $55.70.
Helmerich & Payne Price Performance
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 $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 6.27%. The ex-dividend date is Wednesday, May 17th. Helmerich & Payne’s payout ratio is 32.89%.
Helmerich & Payne 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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