KLP Kapitalforvaltning AS Buys Shares of 20,100 Helmerich & Payne, Inc. (NYSE:HP)

KLP Kapitalforvaltning AS acquired a new position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 20,100 shares of the oil and gas company's stock, valued at approximately $644,000.

Other large investors have also modified their holdings of the company. ARGA Investment Management LP grew its stake in Helmerich & Payne by 42.5% during the 4th quarter. ARGA Investment Management LP now owns 2,686,215 shares of the oil and gas company's stock worth $86,013,000 after purchasing an additional 801,000 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Helmerich & Payne by 27.7% in the 4th quarter. Van ECK Associates Corp now owns 1,522,144 shares of the oil and gas company's stock valued at $48,739,000 after buying an additional 329,734 shares during the period. American Century Companies Inc. grew its position in shares of Helmerich & Payne by 14.0% during the fourth quarter. American Century Companies Inc. now owns 2,658,356 shares of the oil and gas company's stock worth $85,121,000 after buying an additional 327,374 shares in the last quarter. Barclays PLC increased its stake in shares of Helmerich & Payne by 320.2% during the third quarter. Barclays PLC now owns 198,415 shares of the oil and gas company's stock worth $6,035,000 after buying an additional 151,196 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in Helmerich & Payne by 116.4% in the third quarter. BNP Paribas Financial Markets now owns 242,515 shares of the oil and gas company's stock valued at $7,377,000 after acquiring an additional 130,455 shares in the last quarter. Hedge funds and other institutional investors own 96.05% of the company's stock.

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Helmerich & Payne Stock Performance

NYSE HP traded down $4.13 on Thursday, reaching $22.66. The stock had a trading volume of 2,417,748 shares, compared to its average volume of 1,462,446. The stock has a market cap of $2.25 billion, a P/E ratio of 7.45, a price-to-earnings-growth ratio of 3.52 and a beta of 1.43. Helmerich & Payne, Inc. has a 12-month low of $22.57 and a 12-month high of $44.11. The business's 50-day moving average price is $27.19 and its 200 day moving average price is $31.48. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81.

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 EPS for the quarter, beating 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%. As a group, equities analysts expect 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.41%. The ex-dividend date of this dividend is Thursday, May 15th. Helmerich & Payne's dividend payout ratio is presently 32.89%.

Wall Street Analyst Weigh In

Several research analysts have commented on HP shares. Argus upgraded shares of Helmerich & Payne to a "hold" rating in a report on Tuesday, February 11th. Citigroup upgraded shares of Helmerich & Payne from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $33.00 to $40.00 in a research note on Friday, January 10th. Evercore ISI restated an "in-line" rating and issued a $39.00 price target (down from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Royal Bank of Canada lowered their price objective on Helmerich & Payne from $41.00 to $35.00 and set a "sector perform" rating for the company in a research report on Friday, February 7th. Finally, Morgan Stanley reissued an "underweight" rating and set a $27.00 target price on shares of Helmerich & Payne in a research report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Helmerich & Payne has a consensus rating of "Hold" and an average target price of $36.11.

Insider Buying and Selling at Helmerich & Payne

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

About Helmerich & Payne

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.