Helmerich & Payne, Inc. (HP) Stake Boosted by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board grew its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 27.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 273,710 shares of the oil and gas company’s stock after acquiring an additional 59,300 shares during the period. Canada Pension Plan Investment Board’s holdings in Helmerich & Payne were worth $18,823,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of HP. American Century Companies Inc. raised its stake in shares of Helmerich & Payne by 406.4% during the third quarter. American Century Companies Inc. now owns 983,927 shares of the oil and gas company’s stock valued at $67,665,000 after acquiring an additional 789,623 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Helmerich & Payne by 692.2% during the second quarter. Janus Henderson Group PLC now owns 687,928 shares of the oil and gas company’s stock valued at $43,862,000 after acquiring an additional 601,088 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Helmerich & Payne during the second quarter valued at about $21,926,000. Pinnacle Associates Ltd. raised its stake in Helmerich & Payne by 163.1% in the second quarter. Pinnacle Associates Ltd. now owns 505,777 shares of the oil and gas company’s stock worth $32,248,000 after buying an additional 313,569 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its stake in Helmerich & Payne by 193.9% in the second quarter. Point72 Asset Management L.P. now owns 264,552 shares of the oil and gas company’s stock worth $16,868,000 after buying an additional 174,552 shares in the last quarter. 90.07% of the stock is owned by hedge funds and other institutional investors.

In other Helmerich & Payne news, VP John R. Bell sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, November 26th. The shares were sold at an average price of $60.17, for a total transaction of $782,210.00. Following the completion of the transaction, the vice president now owns 63,375 shares of the company’s stock, valued at $3,813,273.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John W. Lindsay sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $70.00, for a total transaction of $2,100,000.00. The disclosure for this sale can be found here. Insiders have sold 54,309 shares of company stock valued at $3,618,765 in the last ninety days. Insiders own 4.10% of the company’s stock.

A number of equities analysts recently issued reports on the stock. Wells Fargo & Co set a $72.00 price target on shares of Helmerich & Payne and gave the stock a “hold” rating in a research note on Monday, October 15th. They noted that the move was a valuation call. B. Riley raised shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and increased their price target for the stock from $68.00 to $83.00 in a research note on Monday, September 24th. Credit Suisse Group raised shares of Helmerich & Payne from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $63.00 to $65.00 in a research note on Monday, November 19th. BMO Capital Markets raised shares of Helmerich & Payne from an “underperform” rating to a “market perform” rating and set a $68.00 price target for the company in a research note on Monday, October 29th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $76.00 price target on shares of Helmerich & Payne in a research note on Monday, November 19th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $73.35.

Shares of NYSE HP opened at $60.60 on Friday. Helmerich & Payne, Inc. has a fifty-two week low of $54.00 and a fifty-two week high of $75.02. The company has a market cap of $6.67 billion, a price-to-earnings ratio of 432.86 and a beta of 1.30. The company has a quick ratio of 2.54, a current ratio of 2.96 and a debt-to-equity ratio of 0.11.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Thursday, November 15th. The oil and gas company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. Helmerich & Payne had a net margin of 19.41% and a return on equity of 0.41%. The business had revenue of $696.83 million during the quarter, compared to the consensus estimate of $683.89 million. On average, sell-side analysts anticipate that Helmerich & Payne, Inc. will post 1.78 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 12th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date is Thursday, November 8th. Helmerich & Payne’s dividend payout ratio is 2,028.57%.

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Helmerich & Payne Profile

Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.

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

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