California Public Employees Retirement System lifted its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 49.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 366,038 shares of the oil and gas company’s stock after purchasing an additional 121,138 shares during the quarter. California Public Employees Retirement System owned about 0.34% of Helmerich & Payne worth $19,074,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Helmerich & Payne by 4.5% during the second quarter. BlackRock Inc. now owns 11,459,741 shares of the oil and gas company’s stock valued at $622,721,000 after acquiring an additional 492,673 shares during the last quarter. Vanguard Group Inc. increased its position in Helmerich & Payne by 2.0% during the second quarter. Vanguard Group Inc. now owns 10,714,896 shares of the oil and gas company’s stock valued at $582,248,000 after acquiring an additional 205,883 shares during the last quarter. Capital International Investors increased its position in Helmerich & Payne by 37.2% during the third quarter. Capital International Investors now owns 8,026,854 shares of the oil and gas company’s stock valued at $418,279,000 after acquiring an additional 2,177,139 shares during the last quarter. State Street Corp increased its position in Helmerich & Payne by 2.7% during the second quarter. State Street Corp now owns 6,457,523 shares of the oil and gas company’s stock valued at $350,901,000 after acquiring an additional 172,819 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its position in Helmerich & Payne by 68.8% in the second quarter. Artisan Partners Limited Partnership now owns 3,904,089 shares of the oil and gas company’s stock worth $212,148,000 after buying an additional 1,590,793 shares in the last quarter.
In other news, Director Chapman Paula Marshall sold 2,555 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $57.80, for a total value of $147,679.00. Following the completion of the sale, the director now owns 12,525 shares of the company’s stock, valued at approximately $723,945. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.90% of the stock is owned by company insiders.
Helmerich & Payne, Inc. (HP) traded up $0.22 on Friday, reaching $70.26. The company’s stock had a trading volume of 1,962,501 shares, compared to its average volume of 1,650,000. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.59 and a quick ratio of 3.19. The stock has a market cap of $7,630.00, a P/E ratio of -59.04 and a beta of 1.30. Helmerich & Payne, Inc. has a one year low of $42.16 and a one year high of $81.20.
Helmerich & Payne (NYSE:HP) last announced its earnings results on Thursday, November 16th. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.05. The business had revenue of $532.30 million for the quarter, compared to analysts’ expectations of $493.78 million. Helmerich & Payne had a negative return on equity of 2.96% and a negative net margin of 7.16%. The business’s revenue for the quarter was up 60.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.33) EPS. equities analysts anticipate that Helmerich & Payne, Inc. will post -0.43 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Monday, February 12th will be given a $0.70 dividend. The ex-dividend date is Friday, February 9th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.99%. Helmerich & Payne’s payout ratio is -235.29%.
A number of analysts have commented on HP shares. Deutsche Bank started coverage on Helmerich & Payne in a research report on Tuesday, October 10th. They issued a “hold” rating and a $45.00 price target for the company. Royal Bank of Canada set a $57.00 price objective on Helmerich & Payne and gave the stock a “sector perform” rating in a research note on Friday, November 17th. Cowen set a $50.00 price objective on Helmerich & Payne and gave the stock a “hold” rating in a research note on Wednesday, October 18th. Jefferies Group set a $58.00 price objective on Helmerich & Payne and gave the stock a “hold” rating in a research note on Saturday, November 18th. Finally, Zacks Investment Research lowered Helmerich & Payne from a “buy” rating to a “hold” rating in a research note on Monday, December 4th. Seven investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and four have issued a buy rating to the company. Helmerich & Payne presently has a consensus rating of “Hold” and an average price target of $55.04.
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Helmerich & Payne Profile
Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.
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