Bank of Montreal Can Boosts Stock Position in Helmerich & Payne, Inc. (NYSE:HP)

Bank of Montreal Can lifted its position in Helmerich & Payne, Inc. (NYSE:HP) by 15.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 98,411 shares of the oil and gas company’s stock after buying an additional 13,351 shares during the quarter. Bank of Montreal Can owned approximately 0.10% of Helmerich & Payne worth $2,952,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Helmerich & Payne by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,576,795 shares of the oil and gas company’s stock valued at $201,543,000 after buying an additional 176,179 shares during the period. Pacer Advisors Inc. increased its holdings in Helmerich & Payne by 9.4% during the 2nd quarter. Pacer Advisors Inc. now owns 3,826,851 shares of the oil and gas company’s stock worth $138,302,000 after purchasing an additional 327,802 shares during the period. Earnest Partners LLC increased its holdings in Helmerich & Payne by 15.7% during the 2nd quarter. Earnest Partners LLC now owns 3,469,609 shares of the oil and gas company’s stock worth $125,392,000 after purchasing an additional 471,420 shares during the period. Boston Trust Walden Corp increased its holdings in Helmerich & Payne by 1.3% during the 2nd quarter. Boston Trust Walden Corp now owns 2,222,477 shares of the oil and gas company’s stock worth $80,320,000 after purchasing an additional 27,660 shares during the period. Finally, American Century Companies Inc. increased its holdings 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 worth $67,306,000 after purchasing an additional 513,647 shares during the period. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on HP shares. Barclays cut their price target on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 20th. The Goldman Sachs Group dropped their price target 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 decreased their price objective on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Royal Bank of Canada cut their price objective on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Friday, November 15th. Finally, Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $38.57.

Helmerich & Payne Stock Performance

HP opened at $35.08 on Thursday. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 10.30, a price-to-earnings-growth ratio of 4.30 and a beta of 1.39. Helmerich & Payne, Inc. has a 1-year low of $29.46 and a 1-year high of $44.11. The business has a 50 day moving average price of $34.25 and a two-hundred day moving average price of $34.79. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.67 and a quick ratio of 2.40.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.76. The business had revenue of $693.79 million during the quarter, compared to analyst estimates of $695.99 million. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. Helmerich & Payne’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $0.69 earnings per share. Research analysts predict that Helmerich & Payne, Inc. will post 3.12 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend was Monday, November 18th. Helmerich & Payne’s dividend payout ratio (DPR) is presently 29.07%.

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.