Exchange Traded Concepts LLC Buys 8,907 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Exchange Traded Concepts LLC raised its stake in Helmerich & Payne, Inc. (NYSE:HP) by 38.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,803 shares of the oil and gas company’s stock after buying an additional 8,907 shares during the period. Exchange Traded Concepts LLC’s holdings in Helmerich & Payne were worth $967,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. American Century Companies Inc. increased its position in Helmerich & Payne by 38.1% during the 2nd quarter. American Century Companies Inc. now owns 1,862,362 shares of the oil and gas company’s stock valued at $67,306,000 after purchasing an additional 513,647 shares during the period. ARGA Investment Management LP increased its position in shares of Helmerich & Payne by 55.4% during the first quarter. ARGA Investment Management LP now owns 1,378,705 shares of the oil and gas company’s stock worth $57,988,000 after buying an additional 491,589 shares during the period. Earnest Partners LLC raised its stake in Helmerich & Payne by 15.7% during the second quarter. Earnest Partners LLC now owns 3,469,609 shares of the oil and gas company’s stock worth $125,392,000 after buying an additional 471,420 shares during the last quarter. LSV Asset Management lifted its holdings in Helmerich & Payne by 51.7% in the second quarter. LSV Asset Management now owns 1,189,318 shares of the oil and gas company’s stock valued at $42,982,000 after buying an additional 405,179 shares during the period. Finally, Pacer Advisors Inc. boosted its position in Helmerich & Payne by 9.4% during the second quarter. Pacer Advisors Inc. now owns 3,826,851 shares of the oil and gas company’s stock valued at $138,302,000 after acquiring an additional 327,802 shares during the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Stock Up 1.8 %

Shares of NYSE HP opened at $34.67 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.12 and a quick ratio of 1.87. The company has a 50-day moving average price of $32.81 and a 200-day moving average price of $36.25. The stock has a market capitalization of $3.42 billion, a P/E ratio of 9.91, a P/E/G ratio of 3.80 and a beta of 1.42. Helmerich & Payne, Inc. has a 1 year low of $29.46 and a 1 year high of $44.80.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating 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 company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 EPS. On average, equities research analysts forecast that Helmerich & Payne, Inc. will post 3.48 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, November 18th. This represents a $1.00 annualized dividend and a yield of 2.88%. Helmerich & Payne’s dividend payout ratio (DPR) is currently 28.57%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. The Goldman Sachs Group lowered their price objective on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a research report on Thursday, August 29th. Citigroup dropped their price target on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research report on Monday, August 5th. Evercore ISI upgraded shares of Helmerich & Payne to a “strong-buy” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada increased their target price on shares of Helmerich & Payne from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $40.75.

About Helmerich & Payne

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.