Nordea Investment Management AB Purchases 1,796 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Nordea Investment Management AB boosted its position in Helmerich & Payne, Inc. (NYSE:HP) by 1.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 143,636 shares of the oil and gas company’s stock after buying an additional 1,796 shares during the period. Nordea Investment Management AB’s holdings in Helmerich & Payne were worth $4,602,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd raised its position in shares of Helmerich & Payne by 76.9% in the 3rd quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 643 shares in the last quarter. Blue Trust Inc. raised its position 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 valued at $46,000 after purchasing an additional 854 shares in the last quarter. Quarry LP bought a new stake in Helmerich & Payne during the third quarter worth $48,000. Headlands Technologies LLC boosted its holdings in shares of Helmerich & Payne by 96.9% in the 2nd quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company’s stock valued at $56,000 after purchasing an additional 757 shares in the last quarter. Finally, Eastern Bank bought a new position in shares of Helmerich & Payne in the 3rd quarter valued at $61,000. 96.05% of the stock is owned by institutional investors and hedge funds.

Helmerich & Payne Price Performance

Helmerich & Payne stock opened at $34.29 on Friday. 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, Inc. has a one year low of $29.46 and a one year high of $44.11. The firm has a market capitalization of $3.39 billion, a P/E ratio of 9.97, a PEG ratio of 4.10 and a beta of 1.39. The business has a fifty day moving average price of $33.61 and a 200-day moving average price of $34.20.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share for the quarter, hitting the consensus estimate of $0.76. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The firm had revenue of $693.79 million for the quarter, compared to analysts’ expectations of $695.99 million. During the same quarter in the prior year, the firm posted $0.69 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis. 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 company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.00 dividend on an annualized basis and a yield of 2.92%. Helmerich & Payne’s payout ratio is 29.07%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Barclays decreased their price target on shares of Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 20th. Royal Bank of Canada decreased their target price on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Friday, November 15th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Finally, Citigroup upgraded Helmerich & Payne from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $33.00 to $40.00 in a research report on Friday. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Helmerich & Payne currently has an average rating of “Hold” and an average target price of $39.57.

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.