Access Financial Services Inc. Acquires Shares of 4,100 Helmerich & Payne, Inc. (HP)

Access Financial Services Inc. acquired a new stake in Helmerich & Payne, Inc. (NYSE:HP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,100 shares of the oil and gas company’s stock, valued at approximately $223,000.

Other hedge funds also recently modified their holdings of the company. Mn Services Vermogensbeheer B.V. increased its stake in shares of Helmerich & Payne by 510.6% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 17,615 shares of the oil and gas company’s stock valued at $957,000 after buying an additional 14,730 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Helmerich & Payne by 0.6% in the second quarter. Meeder Asset Management Inc. now owns 10,058 shares of the oil and gas company’s stock worth $547,000 after buying an additional 57 shares during the last quarter. Creative Planning boosted its position in shares of Helmerich & Payne by 53.0% in the second quarter. Creative Planning now owns 34,676 shares of the oil and gas company’s stock worth $1,884,000 after buying an additional 12,008 shares during the last quarter. Sprott Inc. boosted its position in shares of Helmerich & Payne by 33.3% in the second quarter. Sprott Inc. now owns 127,500 shares of the oil and gas company’s stock worth $6,928,000 after buying an additional 31,850 shares during the last quarter. Finally, Arvest Bank Trust Division boosted its position in shares of Helmerich & Payne by 1.1% in the second quarter. Arvest Bank Trust Division now owns 187,311 shares of the oil and gas company’s stock worth $10,178,000 after buying an additional 1,964 shares during the last quarter.

Helmerich & Payne, Inc. (HP) traded down 0.50% during midday trading on Friday, hitting $46.18. 1,659,801 shares of the company traded hands. Helmerich & Payne, Inc. has a 12-month low of $46.00 and a 12-month high of $85.78. The stock’s market cap is $5.01 billion. The stock has a 50 day moving average of $52.72 and a 200 day moving average of $61.10.

Helmerich & Payne (NYSE:HP) last released its earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.05. The firm had revenue of $498.60 million for the quarter, compared to analyst estimates of $452.42 million. Helmerich & Payne had a negative return on equity of 3.37% and a negative net margin of 11.19%. Helmerich & Payne’s revenue was up 36.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.20) earnings per share. Equities research analysts predict that Helmerich & Payne, Inc. will post ($1.32) EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date of this dividend is Wednesday, August 16th. Helmerich & Payne’s payout ratio is currently -167.66%.

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A number of brokerages have recently commented on HP. UBS AG reaffirmed a “buy” rating and issued a $86.00 target price (down from $91.00) on shares of Helmerich & Payne in a report on Tuesday, May 2nd. Royal Bank Of Canada set a $80.00 target price on shares of Helmerich & Payne and gave the company a “hold” rating in a report on Saturday, July 1st. BidaskClub cut shares of Helmerich & Payne from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Citigroup Inc. cut shares of Helmerich & Payne from a “neutral” rating to a “sell” rating and cut their target price for the company from $58.00 to $43.00 in a report on Friday, July 28th. Finally, Jefferies Group LLC set a $54.00 target price on shares of Helmerich & Payne and gave the company a “hold” rating in a report on Tuesday, June 6th. Seven analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. Helmerich & Payne currently has an average rating of “Hold” and a consensus price target of $57.10.

About Helmerich & Payne

Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.

Institutional Ownership by Quarter for Helmerich & Payne (NYSE:HP)

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