PVG Asset Management Corp Buys Shares of 14,860 Helmerich & Payne, Inc. (HP)

PVG Asset Management Corp bought a new position in Helmerich & Payne, Inc. (NYSE:HP) during the second quarter, HoldingsChannel.com reports. The fund bought 14,860 shares of the oil and gas company’s stock, valued at approximately $947,000.

Other hedge funds have also added to or reduced their stakes in the company. Front Barnett Associates LLC increased its stake in shares of Helmerich & Payne by 0.8% during the second quarter. Front Barnett Associates LLC now owns 123,087 shares of the oil and gas company’s stock valued at $7,848,000 after buying an additional 990 shares during the period. Gabelli Funds LLC increased its stake in shares of Helmerich & Payne by 2.9% during the second quarter. Gabelli Funds LLC now owns 35,000 shares of the oil and gas company’s stock valued at $2,232,000 after buying an additional 1,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Helmerich & Payne by 3.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,204 shares of the oil and gas company’s stock valued at $1,735,000 after buying an additional 1,001 shares during the period. US Bancorp DE increased its stake in shares of Helmerich & Payne by 0.5% during the second quarter. US Bancorp DE now owns 191,620 shares of the oil and gas company’s stock valued at $12,218,000 after buying an additional 1,011 shares during the period. Finally, Rampart Investment Management Company LLC increased its stake in shares of Helmerich & Payne by 84.3% during the first quarter. Rampart Investment Management Company LLC now owns 2,453 shares of the oil and gas company’s stock valued at $163,000 after buying an additional 1,122 shares during the period. Institutional investors and hedge funds own 92.01% of the company’s stock.

Shares of HP stock opened at $65.31 on Monday. Helmerich & Payne, Inc. has a 1-year low of $48.88 and a 1-year high of $75.02. The stock has a market cap of $7.17 billion, a P/E ratio of -51.43 and a beta of 1.39. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.57 and a current ratio of 2.97.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Wednesday, July 25th. The oil and gas company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). Helmerich & Payne had a net margin of 19.70% and a negative return on equity of 0.37%. The company had revenue of $648.87 million for the quarter, compared to the consensus estimate of $617.06 million. During the same period in the previous year, the business earned ($0.25) EPS. Helmerich & Payne’s revenue for the quarter was up 30.1% compared to the same quarter last year. equities analysts anticipate that Helmerich & Payne, Inc. will post 0.02 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 12th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date is Thursday, November 8th. Helmerich & Payne’s payout ratio is currently -223.62%.

HP has been the topic of several research reports. Jefferies Financial Group upgraded Helmerich & Payne from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Tuesday, June 19th. ValuEngine lowered Helmerich & Payne from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. JPMorgan Chase & Co. raised their price target on Helmerich & Payne from $47.00 to $49.00 and gave the company an “underweight” rating in a research note on Friday, July 27th. Stephens upgraded Helmerich & Payne from an “equal weight” rating to an “overweight” rating and set a $67.00 price target on the stock in a research note on Monday, July 30th. Finally, Piper Jaffray Companies set a $67.00 price target on Helmerich & Payne and gave the company a “hold” rating in a research note on Sunday, July 29th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $66.47.

About Helmerich & Payne

Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.

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Institutional Ownership by Quarter for Helmerich & Payne (NYSE:HP)

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