Global Alpha Capital Management Ltd. Acquires 26,500 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Global Alpha Capital Management Ltd. grew its stake in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 907,281 shares of the oil and gas company's stock after purchasing an additional 26,500 shares during the quarter. Helmerich & Payne makes up approximately 2.1% of Global Alpha Capital Management Ltd.'s investment portfolio, making the stock its 24th largest position. Global Alpha Capital Management Ltd. owned approximately 0.90% of Helmerich & Payne worth $29,051,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Kestra Investment Management LLC purchased a new stake in Helmerich & Payne in the 4th quarter valued at about $27,000. Covestor Ltd raised its stake in shares of Helmerich & Payne by 76.9% during the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company's stock valued at $45,000 after acquiring an additional 643 shares in the last quarter. Quarry LP purchased a new stake in shares of Helmerich & Payne in the third quarter valued at approximately $48,000. Steph & Co. bought a new position in Helmerich & Payne in the fourth quarter worth approximately $87,000. Finally, Smartleaf Asset Management LLC increased its holdings in Helmerich & Payne by 82.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,805 shares of the oil and gas company's stock worth $88,000 after purchasing an additional 1,268 shares during the period. 96.05% of the stock is currently owned by institutional investors.

Helmerich & Payne Stock Up 2.0 %

Shares of Helmerich & Payne stock opened at $25.59 on Friday. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60. The company has a market cap of $2.54 billion, a P/E ratio of 8.42, a PEG ratio of 3.52 and a beta of 1.37. The firm's 50 day moving average price is $30.67 and its 200-day moving average price is $32.39. Helmerich & Payne, Inc. has a 52-week low of $23.80 and a 52-week high of $44.11.

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

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.91%. The ex-dividend date was Friday, February 14th. Helmerich & Payne's dividend payout ratio is currently 32.89%.

Analyst Ratings Changes

HP has been the subject of several research reports. Barclays lowered their target price on Helmerich & Payne from $36.00 to $24.00 and set an "equal weight" rating for the company in a report on Wednesday, February 19th. Argus upgraded Helmerich & Payne to a "hold" rating in a report on Tuesday, February 11th. Royal Bank of Canada dropped their target price on shares of Helmerich & Payne from $41.00 to $35.00 and set a "sector perform" rating on the stock in a report on Friday, February 7th. Evercore ISI restated an "in-line" rating and issued a $39.00 price target (down previously from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. Finally, Citigroup raised shares of Helmerich & Payne from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $33.00 to $40.00 in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $37.25.

Insiders Place Their Bets

In other news, CEO John W. Lindsay bought 20,000 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were 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 directly owns 691,214 shares in the company, valued at approximately $19,042,945.70. The trade was a 2.98 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Belgacem Chariag bought 37,356 shares of Helmerich & Payne stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average price of $27.08 per share, with a total value of $1,011,600.48. Following the purchase, the director now directly owns 54,606 shares in the company, valued at $1,478,730.48. The trade was a 216.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 4.51% of the company's stock.

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.

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