Citigroup Inc. raised its stake in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 74.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,741 shares of the oil and gas company's stock after buying an additional 64,465 shares during the period. Citigroup Inc. owned 0.15% of Helmerich & Payne worth $4,586,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in HP. State of New Jersey Common Pension Fund D increased its holdings in Helmerich & Payne by 18.1% in 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 buying an additional 9,004 shares during the period. Wedge Capital Management L L P NC lifted its stake in Helmerich & Payne by 13.1% during the second quarter. Wedge Capital Management L L P NC now owns 188,402 shares of the oil and gas company's stock worth $6,809,000 after purchasing an additional 21,852 shares during the period. William B. Walkup & Associates Inc. acquired a new stake in Helmerich & Payne during the second quarter valued at approximately $1,274,000. Canada Pension Plan Investment Board grew its stake in shares of Helmerich & Payne by 120.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 367,100 shares of the oil and gas company's stock valued at $13,267,000 after purchasing an additional 200,700 shares during the period. Finally, Sei Investments Co. lifted its position in shares of Helmerich & Payne by 88.1% during the 2nd quarter. Sei Investments Co. now owns 53,124 shares of the oil and gas company's stock worth $1,920,000 after buying an additional 24,875 shares during the period. Institutional investors and hedge funds own 96.05% of the company's stock.
Helmerich & Payne Stock Performance
Shares of Helmerich & Payne stock traded up $0.08 during trading hours on Tuesday, reaching $35.26. The company had a trading volume of 1,512,183 shares, compared to its average volume of 1,383,509. The firm has a market cap of $3.48 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 4.30 and a beta of 1.39. Helmerich & Payne, Inc. has a one year low of $29.46 and a one year high of $44.11. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.67 and a quick ratio of 2.40. The business has a fifty day simple moving average of $34.20 and a 200 day simple moving average of $34.81.
Helmerich & Payne (NYSE:HP - Get Free Report) last posted its 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 business had revenue of $693.79 million during the quarter, compared to analysts' expectations of $695.99 million. During the same period in the previous year, the business earned $0.69 earnings per share. The firm's revenue was up 5.2% on a year-over-year basis. On average, analysts anticipate that Helmerich & Payne, Inc. will post 3.12 earnings per share for the current fiscal year.
Helmerich & Payne Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.84%. The ex-dividend date was Monday, November 18th. Helmerich & Payne's dividend payout ratio is currently 29.07%.
Analysts Set New Price Targets
Several research analysts have recently commented on the company. Citigroup reduced their target price on Helmerich & Payne from $41.00 to $33.00 and set a "neutral" rating on the stock in a report on Friday, September 13th. Barclays cut their price target on Helmerich & Payne from $39.00 to $36.00 and set an "equal weight" rating for the company in a report on Wednesday, November 20th. Benchmark reissued a "hold" rating on shares of Helmerich & Payne in a report on Thursday, November 21st. The Goldman Sachs Group dropped their target price on shares of Helmerich & Payne from $38.00 to $34.00 and set a "sell" rating for the company in a research note on Thursday, August 29th. Finally, Royal Bank of Canada reduced their target price on shares of Helmerich & Payne from $44.00 to $41.00 and set a "sector perform" rating on the stock in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, five have given 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 stock currently has an average rating of "Hold" and an average price target of $38.57.
Check Out Our Latest Analysis on HP
Helmerich & Payne Profile
(
Free Report)
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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