Bridgewater Associates LP Makes New Investment in Helmerich & Payne, Inc. (NYSE:HP)

Bridgewater Associates LP purchased a new stake in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 91,097 shares of the oil and gas company's stock, valued at approximately $2,771,000. Bridgewater Associates LP owned approximately 0.09% of Helmerich & Payne as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Public Employees Retirement System of Ohio acquired a new stake in Helmerich & Payne during the 1st quarter worth about $102,000. Janus Henderson Group PLC raised its stake in Helmerich & Payne by 18.9% during the 1st quarter. Janus Henderson Group PLC now owns 57,870 shares of the oil and gas company's stock valued at $2,432,000 after purchasing an additional 9,190 shares during the period. Tidal Investments LLC raised its position in Helmerich & Payne by 29.7% during the first quarter. Tidal Investments LLC now owns 34,958 shares of the oil and gas company's stock valued at $1,470,000 after buying an additional 8,002 shares during the period. Moody National Bank Trust Division lifted its position in shares of Helmerich & Payne by 11.4% in the second quarter. Moody National Bank Trust Division now owns 17,496 shares of the oil and gas company's stock worth $632,000 after purchasing an additional 1,788 shares in the last quarter. Finally, Mather Group LLC. boosted its holdings in shares of Helmerich & Payne by 13.5% during the second quarter. Mather Group LLC. now owns 13,143 shares of the oil and gas company's stock worth $475,000 after purchasing an additional 1,568 shares during the period. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HP shares. Benchmark reiterated a "hold" rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. The Goldman Sachs Group reduced their price target on Helmerich & Payne from $38.00 to $34.00 and set a "sell" rating for the company in a report on Thursday, August 29th. Royal Bank of Canada dropped their price objective on Helmerich & Payne from $44.00 to $41.00 and set a "sector perform" rating on the stock in a report on Friday, November 15th. Barclays reduced their target price on shares of Helmerich & Payne from $39.00 to $36.00 and set an "equal weight" rating for the company in a research note on Wednesday, November 20th. Finally, Citigroup decreased their price objective on shares of Helmerich & Payne from $41.00 to $33.00 and set a "neutral" rating for the company in a report on Friday, September 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $38.57.

Helmerich & Payne Stock Performance

Shares of NYSE:HP traded down $0.23 during midday trading on Friday, hitting $34.63. The company's stock had a trading volume of 627,862 shares, compared to its average volume of 1,453,758. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.40 and a current ratio of 2.67. The stock's 50 day simple moving average is $34.16 and its 200 day simple moving average is $34.86. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 4.12 and a beta of 1.40. Helmerich & Payne, Inc. has a fifty-two week low of $29.46 and a fifty-two week high of $44.11.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued its quarterly earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 EPS for the quarter, hitting the consensus estimate of $0.76. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. The company had revenue of $693.79 million for the quarter, compared to the consensus estimate of $695.99 million. During the same period in the previous year, the business posted $0.69 EPS. The company's revenue for the quarter was up 5.2% on a year-over-year basis. As a group, research analysts anticipate that Helmerich & Payne, Inc. will post 3.21 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Monday, November 18th. Helmerich & Payne's dividend payout ratio is currently 29.07%.

About Helmerich & Payne

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.