Arizona State Retirement System Raises Position in Helmerich & Payne, Inc. (NYSE:HP)

Arizona State Retirement System boosted its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,667 shares of the oil and gas company’s stock after purchasing an additional 342 shares during the period. Arizona State Retirement System’s holdings in Helmerich & Payne were worth $1,000,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. The Manufacturers Life Insurance Company lifted its stake in shares of Helmerich & Payne by 937.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 841,724 shares of the oil and gas company’s stock valued at $30,487,000 after acquiring an additional 760,554 shares during the last quarter. ARGA Investment Management LP increased its stake in Helmerich & Payne by 55.4% in the 1st quarter. ARGA Investment Management LP now owns 1,378,705 shares of the oil and gas company’s stock worth $57,988,000 after purchasing an additional 491,589 shares during the period. Great Lakes Advisors LLC bought a new stake in Helmerich & Payne in the fourth quarter valued at approximately $15,367,000. LSV Asset Management boosted its stake in shares of Helmerich & Payne by 37.9% during the first quarter. LSV Asset Management now owns 784,139 shares of the oil and gas company’s stock valued at $32,981,000 after purchasing an additional 215,339 shares during the period. Finally, Global Alpha Capital Management Ltd. grew its holdings in shares of Helmerich & Payne by 28.1% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 716,591 shares of the oil and gas company’s stock worth $25,955,000 after purchasing an additional 157,100 shares during the last quarter. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on HP. Royal Bank of Canada upped their price target on shares of Helmerich & Payne from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research note on Monday, August 5th. Evercore ISI raised Helmerich & Payne to a “strong-buy” rating in a research note on Friday, July 26th. Piper Sandler reduced their price target on Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Finally, Citigroup dropped their price objective on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a report on Friday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $40.88.

Helmerich & Payne Stock Down 2.5 %

HP stock opened at $29.86 on Friday. Helmerich & Payne, Inc. has a fifty-two week low of $29.46 and a fifty-two week high of $46.55. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 8.53, a price-to-earnings-growth ratio of 3.29 and a beta of 1.42. The business’s 50 day moving average price is $35.09 and its two-hundred day moving average price is $37.43. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.87 and a current ratio of 2.12.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.15. The business had revenue of $697.70 million during the quarter, compared to the consensus estimate of $670.78 million. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.09 earnings per share. As a group, analysts forecast that Helmerich & Payne, Inc. will post 3.57 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.00 dividend on an annualized basis and a yield of 3.35%. Helmerich & Payne’s dividend payout ratio (DPR) is currently 28.57%.

Helmerich & Payne Company Profile

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.