State Street Corp Buys 34,395 Shares of Helmerich & Payne, Inc. (NYSE:HP)

State Street Corp increased its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 0.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,182,972 shares of the oil and gas company’s stock after buying an additional 34,395 shares during the quarter. State Street Corp’s holdings in Helmerich & Payne were worth $127,246,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Covestor Ltd lifted its position in shares of Helmerich & Payne by 76.9% during the 3rd quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock worth $45,000 after buying an additional 643 shares in the last quarter. Blue Trust Inc. lifted its holdings in Helmerich & Payne by 127.8% during the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock worth $46,000 after acquiring an additional 854 shares during the period. Quarry LP bought a new stake in Helmerich & Payne during the third quarter worth $48,000. Headlands Technologies LLC boosted its position in Helmerich & Payne by 96.9% in the second quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company’s stock worth $56,000 after purchasing an additional 757 shares during the last quarter. Finally, Eastern Bank bought a new position in Helmerich & Payne in the 3rd quarter valued at $61,000. 96.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HP has been the topic of a number of recent analyst reports. Citigroup lowered their target price 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. The Goldman Sachs Group dropped their target price on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th. Royal Bank of Canada lowered their price target on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a report on Friday, November 15th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a report on Thursday, November 21st. Finally, Barclays lowered their target price on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Helmerich & Payne presently has an average rating of “Hold” and an average target price of $38.57.

Helmerich & Payne Price Performance

Helmerich & Payne stock opened at $33.59 on Friday. The firm has a market capitalization of $3.32 billion, a P/E ratio of 9.76, a PEG ratio of 4.21 and a beta of 1.39. Helmerich & Payne, Inc. has a one year low of $29.46 and a one year high of $44.11. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.67 and a quick ratio of 2.40. The business has a fifty day moving average price of $34.65 and a 200-day moving average price of $34.61.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.76. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. The business had revenue of $693.79 million during the quarter, compared to analyst estimates of $695.99 million. During the same quarter in the previous year, the firm earned $0.69 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts forecast that Helmerich & Payne, Inc. will post 3.12 EPS for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.25 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.00 dividend on an annualized basis and a yield of 2.98%. Helmerich & Payne’s dividend payout ratio is currently 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.