Murphy Capital Management Inc. raised its stake in Helmerich & Payne, Inc. (NYSE:HP) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,000 shares of the oil and gas company’s stock after buying an additional 100 shares during the period. Murphy Capital Management Inc.’s holdings in Helmerich & Payne were worth $217,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in HP. BlackRock Inc. raised its stake in shares of Helmerich & Payne by 3,318.2% in the first quarter. BlackRock Inc. now owns 10,967,068 shares of the oil and gas company’s stock valued at $730,077,000 after buying an additional 10,646,223 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Helmerich & Payne by 0.7% in the first quarter. Vanguard Group Inc. now owns 10,509,013 shares of the oil and gas company’s stock valued at $699,585,000 after buying an additional 68,948 shares during the last quarter. State Street Corp raised its stake in shares of Helmerich & Payne by 6.0% in the first quarter. State Street Corp now owns 6,284,704 shares of the oil and gas company’s stock valued at $418,376,000 after buying an additional 357,686 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Helmerich & Payne by 13.6% in the first quarter. Bank of New York Mellon Corp now owns 3,374,223 shares of the oil and gas company’s stock valued at $224,623,000 after buying an additional 405,024 shares during the last quarter. Finally, Artisan Partners Limited Partnership purchased a new stake in shares of Helmerich & Payne during the first quarter valued at approximately $153,996,000.
Helmerich & Payne, Inc. (NYSE HP) opened at 46.18 on Friday. Helmerich & Payne, Inc. has a 1-year low of $46.00 and a 1-year high of $85.78. The company has a 50-day moving average of $52.55 and a 200-day moving average of $60.88. The firm’s market cap is $5.01 billion.
Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.05. The firm had revenue of $498.60 million during the quarter, compared to analysts’ expectations of $452.42 million. Helmerich & Payne had a negative net margin of 11.19% and a negative return on equity of 3.37%. The business’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.20) earnings per share. Analysts predict that Helmerich & Payne, Inc. will post ($1.32) earnings per share for the current year.
The company also recently disclosed 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 is Wednesday, August 16th. Helmerich & Payne’s dividend payout ratio is currently -167.66%.
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Several equities research analysts have commented on the stock. UBS AG restated a “buy” rating and issued a $86.00 price target (down previously from $91.00) on shares of Helmerich & Payne in a research note on Tuesday, May 2nd. Royal Bank Of Canada set a $80.00 price objective 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 decreased their price objective for the company from $58.00 to $43.00 in a report on Friday, July 28th. Finally, Jefferies Group LLC set a $54.00 price objective on shares of Helmerich & Payne and gave the company a “hold” rating in a report on Tuesday, June 6th. Seven research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. Helmerich & Payne has a consensus rating of “Hold” and an average 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.
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