The Manufacturers Life Insurance Company Buys 128,372 Shares of Helmerich & Payne, Inc. (NYSE:HP)

The Manufacturers Life Insurance Company boosted its stake in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 15.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 984,263 shares of the oil and gas company's stock after purchasing an additional 128,372 shares during the quarter. The Manufacturers Life Insurance Company owned about 1.00% of Helmerich & Payne worth $35,571,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new stake in shares of Helmerich & Payne in the first quarter worth about $33,000. Hexagon Capital Partners LLC raised its holdings in Helmerich & Payne by 514.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company's stock worth $40,000 after buying an additional 787 shares during the period. Covestor Ltd raised its holdings in Helmerich & Payne by 253.4% during the 1st quarter. Covestor Ltd now owns 940 shares of the oil and gas company's stock worth $40,000 after buying an additional 674 shares during the period. Whittier Trust Co. boosted its holdings in shares of Helmerich & Payne by 94.9% in the first quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company's stock valued at $51,000 after buying an additional 595 shares during the period. Finally, Creekmur Asset Management LLC bought a new stake in shares of Helmerich & Payne during the fourth quarter worth $60,000. Institutional investors own 96.05% of the company's stock.

Helmerich & Payne Stock Performance

HP traded up $1.16 during trading hours on Tuesday, reaching $31.58. The company's stock had a trading volume of 2,454,528 shares, compared to its average volume of 1,372,348. The company's 50-day moving average is $33.49 and its 200-day moving average is $36.76. Helmerich & Payne, Inc. has a 52 week low of $29.46 and a 52 week high of $44.80. The firm has a market cap of $3.12 billion, a PE ratio of 9.02, a price-to-earnings-growth ratio of 3.62 and a beta of 1.42. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.87 and a current ratio of 2.12.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.15. Helmerich & Payne had a net margin of 12.72% and a return on equity of 12.39%. The company had revenue of $697.70 million during the quarter, compared to analysts' expectations of $670.78 million. During the same quarter last year, the company posted $1.09 EPS. Helmerich & Payne's quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities analysts forecast that Helmerich & Payne, Inc. will post 3.48 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Monday, November 18th. Helmerich & Payne's dividend payout ratio is presently 28.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on HP shares. The Goldman Sachs Group reduced their price target on Helmerich & Payne from $38.00 to $34.00 and set a "sell" rating for the company in a research report on Thursday, August 29th. Evercore ISI raised shares of Helmerich & Payne to a "strong-buy" rating in a research report on Friday, July 26th. Benchmark reissued a "hold" rating on shares of Helmerich & Payne in a research report on Monday, August 5th. Citigroup decreased 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. Finally, Piper Sandler dropped their target price on Helmerich & Payne from $39.00 to $36.00 and set a "neutral" rating on the stock in a report on Monday, July 15th. Two analysts have rated the stock with a sell rating, seven 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 data from MarketBeat, Helmerich & Payne currently has an average rating of "Hold" and a consensus target price of $40.88.

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.