Commonwealth Equity Services LLC Purchases 1,828 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Commonwealth Equity Services LLC lifted its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 24.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,222 shares of the oil and gas company’s stock after buying an additional 1,828 shares during the period. Commonwealth Equity Services LLC’s holdings in Helmerich & Payne were worth $333,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Principal Securities Inc. purchased a new stake in Helmerich & Payne during the fourth quarter valued at about $35,000. Teacher Retirement System of Texas boosted its holdings in Helmerich & Payne by 26.4% during the 4th quarter. Teacher Retirement System of Texas now owns 10,212 shares of the oil and gas company’s stock valued at $370,000 after acquiring an additional 2,132 shares during the period. UBS Group AG grew its position in Helmerich & Payne by 84.9% during the 4th quarter. UBS Group AG now owns 207,557 shares of the oil and gas company’s stock worth $7,518,000 after acquiring an additional 95,330 shares during the last quarter. Corient Private Wealth LLC increased its stake in Helmerich & Payne by 27.3% in the 4th quarter. Corient Private Wealth LLC now owns 19,015 shares of the oil and gas company’s stock worth $689,000 after purchasing an additional 4,075 shares during the period. Finally, Franklin Resources Inc. lifted its position in Helmerich & Payne by 0.9% in the fourth quarter. Franklin Resources Inc. now owns 157,710 shares of the oil and gas company’s stock valued at $5,712,000 after purchasing an additional 1,440 shares during the last quarter. Institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Trading Up 1.1 %

NYSE HP opened at $32.97 on Tuesday. The firm has a market capitalization of $3.25 billion, a PE ratio of 9.42, a P/E/G ratio of 3.29 and a beta of 1.42. The stock’s 50 day moving average is $34.48 and its 200 day moving average is $37.13. Helmerich & Payne, Inc. has a twelve month low of $29.46 and a twelve month high of $45.04. The company has a quick ratio of 1.87, a current ratio of 2.12 and a debt-to-equity ratio of 0.19.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.15. Helmerich & Payne had a net margin of 12.72% and a return on equity of 12.39%. The firm had revenue of $697.70 million for the quarter, compared to the consensus estimate of $670.78 million. During the same period in the prior year, the firm earned $1.09 EPS. The company’s revenue was down 3.6% compared to the same quarter last year. Research 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 announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Monday, November 18th. Helmerich & Payne’s dividend payout ratio is 28.57%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HP. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research report on Monday, August 5th. Bank of America reduced their price target on Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating on the stock in a report on Monday, July 15th. 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, September 13th. Royal Bank of Canada boosted their target price on Helmerich & Payne from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Finally, Piper Sandler decreased their target price on Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $40.88.

Helmerich & Payne 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.