KLP Kapitalforvaltning AS Invests $644,000 in Helmerich & Payne, Inc. (NYSE:HP)

KLP Kapitalforvaltning AS bought a new stake in Helmerich & Payne, Inc. (NYSE:HP - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 20,100 shares of the oil and gas company's stock, valued at approximately $644,000.

Several other hedge funds also recently bought and sold shares of the company. Kestra Investment Management LLC bought a new position in shares of Helmerich & Payne during the 4th quarter valued at about $27,000. Quarry LP bought a new position in Helmerich & Payne in the third quarter valued at approximately $48,000. Steph & Co. acquired a new position in shares of Helmerich & Payne in the fourth quarter valued at approximately $87,000. Smartleaf Asset Management LLC boosted its holdings in shares of Helmerich & Payne by 82.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,805 shares of the oil and gas company's stock valued at $88,000 after buying an additional 1,268 shares during the period. Finally, Blue Trust Inc. increased its position in shares of Helmerich & Payne by 143.3% during the fourth quarter. Blue Trust Inc. now owns 3,703 shares of the oil and gas company's stock worth $113,000 after acquiring an additional 2,181 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HP has been the subject of a number of research analyst reports. Barclays reduced their target price on shares of Helmerich & Payne from $36.00 to $24.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 19th. Argus upgraded Helmerich & Payne to a "hold" rating in a report on Tuesday, February 11th. Morgan Stanley restated an "underweight" rating and issued a $27.00 target price on shares of Helmerich & Payne in a research note on Thursday, March 27th. Citigroup upgraded 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. Finally, Royal Bank of Canada reduced their target price on shares of Helmerich & Payne from $41.00 to $35.00 and set a "sector perform" rating for the company in a report on Friday, February 7th. Two investment 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, the company presently has a consensus rating of "Hold" and a consensus price target of $36.11.

Insider Activity

In related news, CEO John W. Lindsay purchased 20,000 shares of Helmerich & Payne stock in a transaction dated Monday, February 10th. The shares were bought at an average cost of $27.55 per share, for a total transaction of $551,000.00. Following the purchase, the chief executive officer now owns 691,214 shares in the company, valued at approximately $19,042,945.70. This trade represents a 2.98 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Belgacem Chariag acquired 37,356 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were bought at an average price of $27.08 per share, with a total value of $1,011,600.48. Following the completion of the transaction, the director now owns 54,606 shares in the company, valued at $1,478,730.48. This represents 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 Stock Performance

NYSE HP traded down $2.94 on Friday, hitting $19.77. 3,109,435 shares of the stock were exchanged, compared to its average volume of 1,473,719. The business's fifty day moving average is $26.89 and its 200 day moving average is $31.40. Helmerich & Payne, Inc. has a 52 week low of $19.53 and a 52 week high of $44.11. The company has a market capitalization of $1.96 billion, a PE ratio of 6.50, a P/E/G ratio of 3.52 and a beta of 1.00. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.52.

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

Helmerich & Payne Dividend Announcement

The company 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. The ex-dividend date is Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a yield of 5.06%. Helmerich & Payne's payout ratio is 32.89%.

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.