FMR LLC raised its stake in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 510.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 140,655 shares of the oil and gas company's stock after purchasing an additional 117,624 shares during the quarter. FMR LLC owned 0.14% of Helmerich & Payne worth $4,279,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Covestor Ltd lifted its position in Helmerich & Payne by 76.9% in the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company's stock worth $45,000 after purchasing an additional 643 shares during the period. Blue Trust Inc. lifted its holdings in shares of Helmerich & Payne by 127.8% during the 3rd quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company's stock worth $46,000 after acquiring an additional 854 shares during the period. Headlands Technologies LLC boosted its position in shares of Helmerich & Payne by 96.9% during the 2nd quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company's stock valued at $56,000 after acquiring an additional 757 shares in the last quarter. Eastern Bank bought a new stake in Helmerich & Payne in the third quarter valued at about $61,000. Finally, KBC Group NV raised its position in Helmerich & Payne by 20.3% in the third quarter. KBC Group NV now owns 3,130 shares of the oil and gas company's stock worth $95,000 after purchasing an additional 529 shares in the last quarter. Institutional investors own 96.05% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have recently weighed in on HP. Royal Bank of Canada lowered their price objective on Helmerich & Payne from $44.00 to $41.00 and set a "sector perform" rating on the stock in a research note on Friday, November 15th. Benchmark reiterated a "hold" rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. Citigroup cut their price objective on Helmerich & Payne from $41.00 to $33.00 and set a "neutral" rating for the company in a report on Friday, September 13th. Barclays lowered their target price on shares of Helmerich & Payne from $39.00 to $36.00 and set an "equal weight" rating on the stock in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group cut their price target on shares of Helmerich & Payne from $38.00 to $34.00 and set a "sell" rating for the company in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $38.57.
Get Our Latest Stock Report on HP
Helmerich & Payne Price Performance
Shares of Helmerich & Payne stock traded down $0.24 during trading on Friday, reaching $33.59. The company's stock had a trading volume of 936,845 shares, compared to its average volume of 1,376,366. The stock has a 50-day moving average price of $34.65 and a two-hundred day moving average price of $34.61. The stock has a market capitalization of $3.32 billion, a P/E ratio of 9.76, a price-to-earnings-growth ratio of 4.21 and a beta of 1.39. The company has a current ratio of 2.67, a quick ratio of 2.40 and a debt-to-equity ratio of 0.61. Helmerich & Payne, Inc. has a one year low of $29.46 and a one year high of $44.11.
Helmerich & Payne (NYSE:HP - Get Free Report) last announced its earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share for the quarter, hitting analysts' consensus estimates of $0.76. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The company had revenue of $693.79 million during the quarter, compared to the consensus estimate of $695.99 million. During the same period in the previous year, the firm posted $0.69 earnings per share. The company's revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Helmerich & Payne, Inc. will post 3.12 EPS for the current fiscal year.
Helmerich & Payne Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a $0.25 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.00 dividend on an annualized basis and a yield of 2.98%. Helmerich & Payne's payout ratio is 29.07%.
Helmerich & Payne Company 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.
Read More
Before you consider Helmerich & Payne, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Helmerich & Payne wasn't on the list.
While Helmerich & Payne currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Click the link below to learn more about using beta to protect yourself.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
