Raymond James Financial Inc. Invests $2.79 Million in Helmerich & Payne, Inc. (NYSE:HP)

Raymond James Financial Inc. acquired a new position in shares of Helmerich & Payne, Inc. (NYSE:HP) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 87,080 shares of the oil and gas company’s stock, valued at approximately $2,788,000.

Other large investors have also bought and sold shares of the company. ARGA Investment Management LP increased its holdings in Helmerich & Payne by 42.5% in the 4th quarter. ARGA Investment Management LP now owns 2,686,215 shares of the oil and gas company’s stock worth $86,013,000 after purchasing an additional 801,000 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Helmerich & Payne by 27.7% in the fourth quarter. Van ECK Associates Corp now owns 1,522,144 shares of the oil and gas company’s stock valued at $48,739,000 after buying an additional 329,734 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Helmerich & Payne by 18.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,161,286 shares of the oil and gas company’s stock valued at $35,326,000 after buying an additional 177,023 shares during the last quarter. Barclays PLC boosted its position in Helmerich & Payne by 320.2% during the 3rd quarter. Barclays PLC now owns 198,415 shares of the oil and gas company’s stock worth $6,035,000 after buying an additional 151,196 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Helmerich & Payne by 116.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 242,515 shares of the oil and gas company’s stock worth $7,377,000 after acquiring an additional 130,455 shares during the last quarter. 96.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HP has been the topic of a number of recent research reports. Morgan Stanley reiterated an “underweight” rating and set a $27.00 price target on shares of Helmerich & Payne in a report on Thursday. Royal Bank of Canada cut their target price on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Evercore ISI restated an “in-line” rating and set a $39.00 price objective (down from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Citigroup upgraded Helmerich & Payne from a “neutral” rating to a “buy” rating and upped their target price for the company from $33.00 to $40.00 in a report on Friday, January 10th. Finally, Barclays lowered their price target on shares of Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $36.11.

Helmerich & Payne Price Performance

Helmerich & Payne stock opened at $25.27 on Friday. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 8.31, a PEG ratio of 3.52 and a beta of 1.42. Helmerich & Payne, Inc. has a 52-week low of $23.80 and a 52-week high of $44.11. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81. The stock’s 50 day moving average price is $28.02 and its two-hundred day moving average price is $31.61.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. On average, equities analysts predict that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Thursday, May 15th. Helmerich & Payne’s payout ratio is 32.89%.

Insider Activity at Helmerich & Payne

In other Helmerich & Payne news, CEO John W. Lindsay purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were acquired at an average price of $27.55 per share, with a total value of $551,000.00. Following the transaction, the chief executive officer now owns 691,214 shares in the company, valued at $19,042,945.70. The trade was a 2.98 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Belgacem Chariag acquired 37,356 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were bought at an average cost of $27.08 per share, with a total value of $1,011,600.48. Following the completion of the acquisition, the director now directly owns 54,606 shares in the company, valued at approximately $1,478,730.48. This represents a 216.56 % increase in their position. The disclosure for this purchase can be found here. 4.51% of the stock is currently owned by corporate insiders.

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.