Eastern Bank Buys New Holdings in Helmerich & Payne, Inc. (NYSE:HP)

Eastern Bank bought a new stake in Helmerich & Payne, Inc. (NYSE:HP) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,017 shares of the oil and gas company’s stock, valued at approximately $61,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HP. American Century Companies Inc. boosted its holdings in Helmerich & Payne by 38.1% in the second 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 acquiring an additional 513,647 shares during the last quarter. Earnest Partners LLC boosted its holdings in Helmerich & Payne by 15.7% in the second quarter. Earnest Partners LLC now owns 3,469,609 shares of the oil and gas company’s stock valued at $125,392,000 after acquiring an additional 471,420 shares during the last quarter. LSV Asset Management boosted 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 acquiring an additional 405,179 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Helmerich & Payne by 9.4% in 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. Finally, Canada Pension Plan Investment Board boosted its holdings in Helmerich & Payne by 120.6% in the second quarter. Canada Pension Plan Investment Board now owns 367,100 shares of the oil and gas company’s stock valued at $13,267,000 after acquiring an additional 200,700 shares during the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Stock Up 1.5 %

Shares of NYSE HP opened at $34.49 on Friday. Helmerich & Payne, Inc. has a 1 year low of $29.46 and a 1 year high of $44.11. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 9.85, a PEG ratio of 3.80 and a beta of 1.42. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.87 and a current ratio of 2.12. The stock’s 50-day simple moving average is $32.80 and its 200-day simple moving average is $35.88.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.15. The business had revenue of $697.70 million for the quarter, compared to analyst estimates of $670.78 million. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 earnings per share. As a group, equities analysts anticipate that Helmerich & Payne, Inc. will post 3.48 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.90%. The ex-dividend date is Monday, November 18th. Helmerich & Payne’s dividend payout ratio is currently 28.57%.

Analysts Set New Price Targets

A number of brokerages have commented on HP. Royal Bank of Canada boosted their price objective on Helmerich & Payne from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research note on Monday, August 5th. Evercore ISI upgraded Helmerich & Payne to a “strong-buy” rating in a research note on Friday, July 26th. Citigroup reduced their price objective 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. Finally, Bank of America reduced their price objective on Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $40.29.

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.