Assenagon Asset Management S.A. Acquires New Position in Helmerich & Payne, Inc. (NYSE:HP)

Assenagon Asset Management S.A. acquired a new stake in shares of Helmerich & Payne, Inc. (NYSE:HP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 70,951 shares of the oil and gas company’s stock, valued at approximately $2,158,000. Assenagon Asset Management S.A. owned 0.07% of Helmerich & Payne as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Norden Group LLC acquired a new position in Helmerich & Payne during the first quarter worth approximately $291,000. Janney Montgomery Scott LLC increased its position in Helmerich & Payne by 48.0% during the first quarter. Janney Montgomery Scott LLC now owns 10,533 shares of the oil and gas company’s stock worth $443,000 after purchasing an additional 3,416 shares during the last quarter. Nordea Investment Management AB increased its position in Helmerich & Payne by 0.6% during the first quarter. Nordea Investment Management AB now owns 175,447 shares of the oil and gas company’s stock worth $7,453,000 after purchasing an additional 1,082 shares during the last quarter. Whittier Trust Co. increased its position in Helmerich & Payne by 94.9% during the first quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 595 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Helmerich & Payne during the first quarter worth approximately $106,000. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on HP shares. Piper Sandler dropped their price target on shares of Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. The Goldman Sachs Group dropped their price objective on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a research report on Thursday, August 29th. Royal Bank of Canada increased their price objective on shares of Helmerich & Payne from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Bank of America dropped their price objective on shares of Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Finally, Barclays dropped their price objective on shares of Helmerich & Payne from $42.00 to $39.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $40.29.

Helmerich & Payne Price Performance

HP opened at $33.60 on Friday. The company has a fifty day simple moving average of $32.82 and a 200 day simple moving average of $35.65. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 3.67 and a beta of 1.42. Helmerich & Payne, Inc. has a twelve month low of $29.46 and a twelve month high of $44.11. The company has a current ratio of 2.12, a quick ratio of 1.87 and a debt-to-equity ratio of 0.19.

Helmerich & Payne Announces Dividend

The company 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. This represents a $1.00 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Monday, November 18th. Helmerich & Payne’s payout ratio is 28.99%.

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.