Allegis Investment Advisors LLC lowered its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 54.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 14,897 shares of the oil and gas company’s stock after selling 17,905 shares during the quarter. Allegis Investment Advisors LLC’s holdings in Helmerich & Payne were worth $963,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HP. Capital International Investors raised its position in Helmerich & Payne by 37.2% in the third quarter. Capital International Investors now owns 8,026,854 shares of the oil and gas company’s stock valued at $418,279,000 after purchasing an additional 2,177,139 shares during the period. Alps Advisors Inc. purchased a new stake in Helmerich & Payne in the fourth quarter valued at $53,727,000. Thornburg Investment Management Inc. raised its position in Helmerich & Payne by 43.3% in the third quarter. Thornburg Investment Management Inc. now owns 2,287,330 shares of the oil and gas company’s stock valued at $119,193,000 after purchasing an additional 691,110 shares during the period. Neuberger Berman Group LLC raised its position in Helmerich & Payne by 664.5% in the third quarter. Neuberger Berman Group LLC now owns 716,399 shares of the oil and gas company’s stock valued at $37,332,000 after purchasing an additional 622,696 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Helmerich & Payne by 8.2% in the third quarter. Bank of New York Mellon Corp now owns 3,515,807 shares of the oil and gas company’s stock valued at $183,208,000 after purchasing an additional 265,249 shares during the period.
HP has been the topic of several research analyst reports. Zacks Investment Research upgraded Helmerich & Payne from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a report on Wednesday, November 29th. Tudor Pickering upgraded Helmerich & Payne from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Societe Generale upgraded Helmerich & Payne from a “hold” rating to a “buy” rating in a report on Monday, January 29th. Argus boosted their price objective on Helmerich & Payne from $65.00 to $87.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Finally, Stephens initiated coverage on Helmerich & Payne in a report on Tuesday, January 9th. They issued an “equal weight” rating and a $67.00 price objective on the stock. Seven analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $57.68.
Shares of Helmerich & Payne, Inc. (HP) opened at $67.47 on Thursday. The company has a current ratio of 3.28, a quick ratio of 3.19 and a debt-to-equity ratio of 0.11. Helmerich & Payne, Inc. has a 1-year low of $42.16 and a 1-year high of $75.02. The firm has a market capitalization of $7,330.00, a PE ratio of 18.33 and a beta of 1.27.
Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Thursday, January 25th. The oil and gas company reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.14. Helmerich & Payne had a negative return on equity of 1.90% and a net margin of 20.30%. The company had revenue of $564.10 million for the quarter, compared to the consensus estimate of $547.64 million. During the same quarter in the prior year, the business earned ($0.33) EPS. Helmerich & Payne’s revenue was up 53.0% on a year-over-year basis. equities analysts expect that Helmerich & Payne, Inc. will post -0.08 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Monday, February 12th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, February 9th. This represents a $2.80 annualized dividend and a yield of 4.15%. Helmerich & Payne’s dividend payout ratio (DPR) is 76.09%.
Helmerich & Payne Company 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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