Raymond James Financial Inc. purchased a new position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 87,080 shares of the oil and gas company's stock, valued at approximately $2,788,000. Raymond James Financial Inc. owned about 0.09% of Helmerich & Payne as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also modified their holdings of HP. ARGA Investment Management LP increased its stake in Helmerich & Payne by 42.5% during the fourth quarter. ARGA Investment Management LP now owns 2,686,215 shares of the oil and gas company's stock valued at $86,013,000 after purchasing an additional 801,000 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Helmerich & Payne by 27.7% during 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 last quarter. The Manufacturers Life Insurance Company raised its stake in Helmerich & Payne by 18.0% during the third quarter. The Manufacturers Life Insurance Company now owns 1,161,286 shares of the oil and gas company's stock worth $35,326,000 after acquiring an additional 177,023 shares during the period. Barclays PLC lifted its holdings in Helmerich & Payne by 320.2% in the third quarter. Barclays PLC now owns 198,415 shares of the oil and gas company's stock worth $6,035,000 after acquiring an additional 151,196 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake 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 during the period. Institutional investors own 96.05% of the company's stock.
Wall Street Analyst Weigh In
HP has been the topic of a number of research reports. Barclays dropped their price target on Helmerich & Payne from $36.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 19th. Morgan Stanley reiterated an "underweight" rating and issued a $27.00 target price on shares of Helmerich & Payne in a research note on Thursday, March 27th. Evercore ISI reissued an "in-line" rating and set a $39.00 price target (down previously from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. Argus raised shares of Helmerich & Payne to a "hold" rating in a report on Tuesday, February 11th. Finally, Citigroup raised shares of Helmerich & Payne from a "neutral" rating to a "buy" rating and boosted their target price for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $36.11.
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Insider Buying and Selling at Helmerich & Payne
In other news, CEO John W. Lindsay acquired 20,000 shares of the stock in a transaction on Monday, February 10th. The shares were purchased at an average cost of $27.55 per share, for a total transaction of $551,000.00. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Belgacem Chariag bought 37,356 shares of Helmerich & Payne stock in a transaction dated Monday, February 10th. The stock was acquired at an average price of $27.08 per share, with a total value of $1,011,600.48. Following the acquisition, the director now directly owns 54,606 shares of the company's stock, valued at approximately $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. Insiders own 4.51% of the company's stock.
Helmerich & Payne Price Performance
Shares of Helmerich & Payne stock traded up $0.24 on Wednesday, hitting $26.74. The company had a trading volume of 998,835 shares, compared to its average volume of 1,455,983. Helmerich & Payne, Inc. has a 52 week low of $23.80 and a 52 week high of $44.11. The business has a 50-day simple moving average of $27.44 and a 200-day simple moving average of $31.54. The company has a market cap of $2.66 billion, a PE ratio of 8.80, a PEG ratio of 3.52 and a beta of 1.43. 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 announced its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. Research analysts expect that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.
Helmerich & Payne Announces Dividend
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 issued a dividend of $0.25 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.00 annualized dividend and a yield of 3.74%. Helmerich & Payne's payout ratio is presently 32.89%.
About Helmerich & Payne
(
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.
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