The Manufacturers Life Insurance Company Boosts Stock Position in Helmerich & Payne, Inc. (NYSE:HP)

The Manufacturers Life Insurance Company raised its position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 18.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,161,286 shares of the oil and gas company's stock after buying an additional 177,023 shares during the quarter. The Manufacturers Life Insurance Company owned about 1.18% of Helmerich & Payne worth $35,326,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new stake in shares of Helmerich & Payne in the 1st quarter worth about $102,000. Janus Henderson Group PLC raised its position in Helmerich & Payne by 18.9% during the first quarter. Janus Henderson Group PLC now owns 57,870 shares of the oil and gas company's stock valued at $2,432,000 after purchasing an additional 9,190 shares during the period. Tidal Investments LLC lifted its stake in shares of Helmerich & Payne by 29.7% in the 1st quarter. Tidal Investments LLC now owns 34,958 shares of the oil and gas company's stock valued at $1,470,000 after purchasing an additional 8,002 shares during the last quarter. Moody National Bank Trust Division boosted its holdings in shares of Helmerich & Payne by 11.4% in the 2nd quarter. Moody National Bank Trust Division now owns 17,496 shares of the oil and gas company's stock worth $632,000 after purchasing an additional 1,788 shares during the period. Finally, Mather Group LLC. increased its position in shares of Helmerich & Payne by 13.5% during the 2nd quarter. Mather Group LLC. now owns 13,143 shares of the oil and gas company's stock valued at $475,000 after purchasing an additional 1,568 shares during the last quarter. Institutional investors own 96.05% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on HP. The Goldman Sachs Group lowered 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. Benchmark reiterated a "hold" rating on shares of Helmerich & Payne in a report on Thursday, November 21st. Royal Bank of Canada reduced their price objective on shares of Helmerich & Payne from $44.00 to $41.00 and set a "sector perform" rating on the stock in a research report on Friday, November 15th. Barclays dropped their target price on Helmerich & Payne from $39.00 to $36.00 and set an "equal weight" rating for the company in a research report on Wednesday, November 20th. Finally, Citigroup reduced their price target on Helmerich & Payne from $41.00 to $33.00 and set a "neutral" rating on the stock in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $38.57.

Helmerich & Payne Trading Down 0.7 %

NYSE:HP traded down $0.23 during midday trading on Friday, hitting $34.63. The stock had a trading volume of 627,862 shares, compared to its average volume of 1,381,916. The stock has a 50-day moving average of $34.16 and a 200 day moving average of $34.89. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 4.15 and a beta of 1.40. Helmerich & Payne, Inc. has a one year low of $29.46 and a one year high of $44.11. The company has a quick ratio of 2.40, a current ratio of 2.67 and a debt-to-equity ratio of 0.61.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its quarterly earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.76. The business had revenue of $693.79 million for the quarter, compared to the consensus estimate of $695.99 million. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. The business's revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 EPS. As a group, sell-side analysts forecast that Helmerich & Payne, Inc. will post 3.21 EPS for the current year.

Helmerich & Payne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Monday, November 18th. Helmerich & Payne's dividend payout ratio (DPR) is 29.07%.

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.