Helmerich & Payne, Inc. (NYSE:HP) Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership raised its position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 77.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 163,946 shares of the oil and gas company's stock after purchasing an additional 71,317 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.16% of Helmerich & Payne worth $5,250,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HP. Kestra Investment Management LLC purchased a new position in shares of Helmerich & Payne during the fourth quarter worth $27,000. Quarry LP purchased a new position in shares of Helmerich & Payne during the 3rd quarter valued at about $48,000. Steph & Co. acquired a new position in shares of Helmerich & Payne in the 4th quarter valued at about $87,000. Smartleaf Asset Management LLC boosted its stake in shares of Helmerich & Payne by 82.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,805 shares of the oil and gas company's stock worth $88,000 after buying an additional 1,268 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Helmerich & Payne by 143.3% during the fourth quarter. Blue Trust Inc. now owns 3,703 shares of the oil and gas company's stock worth $113,000 after acquiring an additional 2,181 shares during the period. 96.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HP has been the topic of several recent research reports. Royal Bank of Canada lowered their price objective on Helmerich & Payne from $41.00 to $35.00 and set a "sector perform" rating on the stock in a research report on Friday, February 7th. Argus raised shares of Helmerich & Payne to a "hold" rating in a report on Tuesday, February 11th. Citigroup decreased their price objective on shares of Helmerich & Payne from $33.00 to $32.00 and set a "buy" rating for the company in a research report on Tuesday. Barclays dropped their target price on Helmerich & Payne from $36.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 19th. Finally, Evercore ISI reiterated an "in-line" rating and set a $39.00 price target (down previously from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $34.22.

Helmerich & Payne Price Performance

Shares of HP stock traded up $0.76 during trading hours on Friday, reaching $19.18. The company had a trading volume of 2,071,002 shares, compared to its average volume of 1,504,471. Helmerich & Payne, Inc. has a 12-month low of $17.82 and a 12-month high of $43.41. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 6.31, a PEG ratio of 3.52 and a beta of 1.00. The stock has a fifty day moving average of $25.13 and a 200-day moving average of $30.80.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. On average, equities analysts anticipate that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date of this dividend is Thursday, May 15th. Helmerich & Payne's dividend payout ratio (DPR) is presently 32.89%.

Insider Buying and Selling at Helmerich & Payne

In other Helmerich & Payne news, CEO John W. Lindsay acquired 20,000 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average cost of $27.55 per share, with a total value of $551,000.00. Following the transaction, the chief executive officer now owns 691,214 shares of the company's stock, valued at $19,042,945.70. This trade represents a 2.98 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Belgacem Chariag acquired 37,356 shares of Helmerich & Payne stock in a transaction that occurred on Monday, February 10th. The stock was bought at an average price of $27.08 per share, for a total transaction of $1,011,600.48. Following the completion of the acquisition, the director now owns 54,606 shares in the company, valued at $1,478,730.48. This trade represents a 216.56 % increase in their position. The disclosure for this purchase can be found here. 4.51% of the stock is currently owned by company insiders.

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.