Comerica Bank lifted its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 51.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,580 shares of the oil and gas company’s stock after acquiring an additional 20,803 shares during the period. Comerica Bank’s holdings in Helmerich & Payne were worth $3,663,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Cullen Frost Bankers Inc. acquired a new stake in shares of Helmerich & Payne during the first quarter valued at $28,000. Liberty Wealth Management LLC acquired a new stake in shares of Helmerich & Payne during the fourth quarter valued at $26,000. Arbor Wealth Management LLC acquired a new stake in shares of Helmerich & Payne during the fourth quarter valued at $30,000. Capital Investment Advisory Services LLC acquired a new stake in shares of Helmerich & Payne during the fourth quarter valued at $31,000. Finally, CSat Investment Advisory L.P. boosted its stake in shares of Helmerich & Payne by 41.5% during the fourth quarter. CSat Investment Advisory L.P. now owns 679 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 199 shares during the last quarter. 93.88% of the stock is currently owned by institutional investors and hedge funds.
HP has been the topic of a number of analyst reports. TheStreet raised Helmerich & Payne from a “c” rating to a “b-” rating in a research note on Wednesday, April 24th. Jefferies Financial Group reaffirmed a “buy” rating and set a $64.00 price objective on shares of Helmerich & Payne in a research note on Tuesday, February 5th. Wells Fargo & Co reaffirmed a “buy” rating and set a $68.00 price objective (up previously from $61.00) on shares of Helmerich & Payne in a research note on Wednesday, January 30th. Bank of America raised Helmerich & Payne from a “neutral” rating to a “buy” rating and increased their price objective for the company from $55.00 to $68.00 in a research note on Thursday, January 31st. Finally, Zacks Investment Research raised Helmerich & Payne from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Tuesday, March 19th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. Helmerich & Payne currently has an average rating of “Hold” and an average price target of $66.47.
NYSE HP opened at $55.48 on Friday. Helmerich & Payne, Inc. has a twelve month low of $44.56 and a twelve month high of $73.74. The stock has a market cap of $6.07 billion, a P/E ratio of 396.29 and a beta of 1.52. The company has a current ratio of 2.80, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11.
Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, April 24th. The oil and gas company reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.18. Helmerich & Payne had a return on equity of 2.95% and a net margin of 2.65%. The firm had revenue of $720.87 million for the quarter, compared to the consensus estimate of $712.29 million. During the same period in the prior year, the business posted ($0.05) earnings per share. The firm’s revenue for the quarter was up 24.8% compared to the same quarter last year. On average, equities analysts anticipate that Helmerich & Payne, Inc. will post 1.69 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $2.84 annualized dividend and a yield of 5.12%. Helmerich & Payne’s dividend payout ratio (DPR) is presently 2,028.57%.
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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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