Highland Capital Management LLC Acquires Shares of 87,850 Helmerich & Payne, Inc. (HP)

Highland Capital Management LLC acquired a new position in shares of Helmerich & Payne, Inc. (NYSE:HP) in the fourth quarter, Holdings Channel reports. The fund acquired 87,850 shares of the oil and gas company’s stock, valued at approximately $4,212,000.

A number of other large investors have also bought and sold shares of HP. BlackRock Inc. boosted its position in shares of Helmerich & Payne by 0.6% during the third quarter. BlackRock Inc. now owns 10,149,341 shares of the oil and gas company’s stock worth $697,971,000 after buying an additional 56,769 shares during the period. Capital World Investors boosted its position in shares of Helmerich & Payne by 5.6% during the third quarter. Capital World Investors now owns 5,591,400 shares of the oil and gas company’s stock worth $384,521,000 after buying an additional 295,400 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Helmerich & Payne by 2.0% during the second quarter. Bank of New York Mellon Corp now owns 2,939,321 shares of the oil and gas company’s stock worth $187,411,000 after buying an additional 58,078 shares during the period. Janus Henderson Group PLC boosted its position in shares of Helmerich & Payne by 71.4% during the third quarter. Janus Henderson Group PLC now owns 1,179,228 shares of the oil and gas company’s stock worth $81,095,000 after buying an additional 491,300 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Helmerich & Payne by 406.4% during the third quarter. American Century Companies Inc. now owns 983,927 shares of the oil and gas company’s stock worth $67,665,000 after buying an additional 789,623 shares during the period. 90.67% of the stock is owned by hedge funds and other institutional investors.

In other news, VP Michael Lennox sold 6,912 shares of the company’s stock in a transaction that occurred on Tuesday, December 11th. The stock was sold at an average price of $60.08, for a total value of $415,272.96. Following the transaction, the vice president now owns 10,360 shares of the company’s stock, valued at $622,428.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John R. Bell sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, November 26th. The shares were sold at an average price of $60.17, for a total value of $782,210.00. Following the completion of the transaction, the vice president now directly owns 63,375 shares in the company, valued at approximately $3,813,273.75. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by corporate insiders.

NYSE:HP traded down $0.49 on Wednesday, hitting $52.90. The company’s stock had a trading volume of 863,522 shares, compared to its average volume of 1,593,055. Helmerich & Payne, Inc. has a one year low of $44.56 and a one year high of $75.02. The company has a quick ratio of 2.54, a current ratio of 2.96 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 377.86 and a beta of 1.42.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Thursday, November 15th. The oil and gas company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. Helmerich & Payne had a return on equity of 0.41% and a net margin of 19.41%. The company had revenue of $696.83 million for the quarter, compared to the consensus estimate of $683.89 million. Equities research analysts expect that Helmerich & Payne, Inc. will post 1.59 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 8th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 5.37%. The ex-dividend date of this dividend is Thursday, February 7th. Helmerich & Payne’s payout ratio is 2,028.57%.

Several research analysts have recently weighed in on the company. Wells Fargo & Co set a $72.00 price objective on Helmerich & Payne and gave the stock a “hold” rating in a research report on Monday, October 15th. They noted that the move was a valuation call. Zacks Investment Research raised Helmerich & Payne from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Friday, January 4th. B. Riley raised Helmerich & Payne from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $68.00 to $83.00 in a research report on Monday, September 24th. Credit Suisse Group upgraded Helmerich & Payne from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $63.00 to $65.00 in a report on Monday, November 19th. Finally, Seaport Global Securities upgraded Helmerich & Payne from a “sell” rating to a “neutral” rating and upped their target price for the stock from $61.00 to $64.00 in a report on Friday, December 7th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $70.72.

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Helmerich & Payne Profile

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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