Shell Asset Management Co. Raises Position in Helmerich & Payne, Inc. (HP)

Shell Asset Management Co. increased its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 145.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,926 shares of the oil and gas company’s stock after acquiring an additional 10,610 shares during the quarter. Shell Asset Management Co.’s holdings in Helmerich & Payne were worth $1,754,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of HP. Teachers Advisors LLC boosted its position in shares of Helmerich & Payne by 5.3% during the first quarter. Teachers Advisors LLC now owns 162,850 shares of the oil and gas company’s stock worth $10,841,000 after acquiring an additional 8,227 shares during the last quarter. Thrivent Financial For Lutherans boosted its position in shares of Helmerich & Payne by 6.6% during the first quarter. Thrivent Financial For Lutherans now owns 4,010 shares of the oil and gas company’s stock worth $267,000 after acquiring an additional 250 shares during the last quarter. Marshall Wace North America L.P. bought a new position in shares of Helmerich & Payne during the first quarter worth $209,000. Amalgamated Bank boosted its position in shares of Helmerich & Payne by 5.8% during the first quarter. Amalgamated Bank now owns 6,990 shares of the oil and gas company’s stock worth $465,000 after acquiring an additional 386 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Helmerich & Payne during the first quarter worth $376,000.

In related news, CEO John W. Lindsay bought 5,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were bought at an average price of $47.73 per share, with a total value of $238,650.00. Following the completion of the transaction, the chief executive officer now directly owns 147,727 shares of the company’s stock, valued at approximately $7,051,009.71. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.90% of the company’s stock.

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Helmerich & Payne, Inc. (NYSE:HP) opened at 52.61 on Friday. The company has a 50-day moving average of $51.12 and a 200 day moving average of $53.15. The stock’s market cap is $5.71 billion. Helmerich & Payne, Inc. has a 1-year low of $42.16 and a 1-year high of $85.78.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.05. Helmerich & Payne had a negative net margin of 11.19% and a negative return on equity of 3.37%. The company had revenue of $498.60 million for the quarter, compared to analysts’ expectations of $452.42 million. During the same quarter in the prior year, the company posted ($0.20) earnings per share. Helmerich & Payne’s revenue for the quarter was up 36.0% compared to the same quarter last year. Analysts predict that Helmerich & Payne, Inc. will post ($1.33) EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 13th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, November 10th. This represents a $2.80 dividend on an annualized basis and a yield of 5.32%. Helmerich & Payne’s payout ratio is currently -167.66%.

A number of equities analysts recently weighed in on the stock. Seaport Global Securities restated a “sell” rating on shares of Helmerich & Payne in a research report on Thursday, July 20th. Royal Bank Of Canada set a $80.00 price objective on shares of Helmerich & Payne and gave the company a “hold” rating in a research report on Saturday, July 1st. Zacks Investment Research upgraded shares of Helmerich & Payne from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Vetr upgraded shares of Helmerich & Payne from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Monday, July 10th. Finally, Cowen and Company reiterated a “hold” rating and set a $50.00 price objective on shares of Helmerich & Payne in a research report on Friday, August 11th. Nine equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $54.27.

Helmerich & Payne Profile

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

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