Channing Capital Management LLC Buys 53,633 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Channing Capital Management LLC raised its stake in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 12.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 469,366 shares of the oil and gas company's stock after acquiring an additional 53,633 shares during the period. Channing Capital Management LLC owned 0.47% of Helmerich & Payne worth $15,029,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. State of New Jersey Common Pension Fund D boosted its position in Helmerich & Payne by 18.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 58,634 shares of the oil and gas company's stock valued at $1,784,000 after purchasing an additional 9,004 shares during the period. Private Capital Management LLC bought a new stake in Helmerich & Payne in the third quarter valued at $1,095,000. Fisher Asset Management LLC boosted its holdings in shares of Helmerich & Payne by 4.6% during the fourth quarter. Fisher Asset Management LLC now owns 1,413,749 shares of the oil and gas company's stock valued at $45,268,000 after acquiring an additional 62,377 shares during the period. Legato Capital Management LLC grew its position in shares of Helmerich & Payne by 93.9% during the fourth quarter. Legato Capital Management LLC now owns 76,064 shares of the oil and gas company's stock worth $2,436,000 after acquiring an additional 36,828 shares during the last quarter. Finally, Hara Capital LLC grew its position in shares of Helmerich & Payne by 519.3% during the fourth quarter. Hara Capital LLC now owns 61,114 shares of the oil and gas company's stock worth $1,957,000 after acquiring an additional 51,245 shares during the last quarter. 96.05% of the stock is owned by institutional investors.

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Insiders Place Their Bets

In other news, Director Belgacem Chariag purchased 37,356 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average price of $27.08 per share, with a total value of $1,011,600.48. Following the purchase, the director now owns 54,606 shares in the company, valued at $1,478,730.48. This represents a 216.56 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John W. Lindsay acquired 20,000 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average price of $27.55 per share, for a total transaction of $551,000.00. Following the acquisition, the chief executive officer now directly owns 691,214 shares of the company's stock, valued at $19,042,945.70. The trade was a 2.98 % increase in their position. The disclosure for this purchase can be found here. Insiders own 4.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HP. Argus raised shares of Helmerich & Payne to a "hold" rating in a research note on Tuesday, February 11th. Benchmark reiterated a "hold" rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. Citigroup raised Helmerich & Payne from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $33.00 to $40.00 in a report on Friday, January 10th. Barclays cut their target price on Helmerich & Payne from $36.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 19th. Finally, Evercore ISI reissued an "in-line" rating and issued a $39.00 price target (down previously from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Helmerich & Payne presently has a consensus rating of "Hold" and an average price target of $37.25.

Helmerich & Payne Stock Down 2.0 %

Shares of HP stock traded down $0.51 on Thursday, reaching $24.78. 1,122,013 shares of the company's stock traded hands, compared to its average volume of 1,703,779. The company has a market capitalization of $2.46 billion, a P/E ratio of 8.15, a price-to-earnings-growth ratio of 3.52 and a beta of 1.42. Helmerich & Payne, Inc. has a 12-month low of $23.80 and a 12-month high of $44.11. 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 business's 50 day moving average price is $30.18 and its two-hundred day moving average price is $32.17.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, topping analysts' consensus estimates 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 forecast that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.00 annualized dividend and a yield of 4.04%. Helmerich & Payne's dividend payout ratio is presently 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.