Twin Capital Management Inc. lowered its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 73.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,950 shares of the oil and gas company’s stock after selling 24,950 shares during the quarter. Twin Capital Management Inc.’s holdings in Helmerich & Payne were worth $453,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in HP. Wedge Capital Management L L P NC acquired a new stake in shares of Helmerich & Payne in the first quarter worth $17,491,000. Rothschild & Co. Asset Management US Inc. increased its stake in shares of Helmerich & Payne by 33.6% in the first quarter. Rothschild & Co. Asset Management US Inc. now owns 960,989 shares of the oil and gas company’s stock worth $53,392,000 after acquiring an additional 241,690 shares during the period. Wells Fargo & Company MN increased its stake in shares of Helmerich & Payne by 37.8% in the first quarter. Wells Fargo & Company MN now owns 639,200 shares of the oil and gas company’s stock worth $35,514,000 after acquiring an additional 175,406 shares during the period. Geode Capital Management LLC increased its stake in shares of Helmerich & Payne by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 1,504,996 shares of the oil and gas company’s stock worth $72,028,000 after acquiring an additional 117,117 shares during the period. Finally, FMR LLC increased its stake in shares of Helmerich & Payne by 62.7% in the fourth quarter. FMR LLC now owns 235,813 shares of the oil and gas company’s stock worth $11,304,000 after acquiring an additional 90,858 shares during the period. Hedge funds and other institutional investors own 89.93% of the company’s stock.
HP traded up $0.24 during midday trading on Friday, hitting $39.41. 1,368,500 shares of the company traded hands, compared to its average volume of 1,680,349. The company has a current ratio of 2.86, a quick ratio of 2.47 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $4.29 billion, a price-to-earnings ratio of 24.95 and a beta of 1.49. Helmerich & Payne, Inc. has a 52-week low of $38.78 and a 52-week high of $73.74. The business has a 50 day simple moving average of $47.98 and a two-hundred day simple moving average of $53.42.
Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.05. The business had revenue of $687.97 million for the quarter, compared to the consensus estimate of $689.41 million. Helmerich & Payne had a negative net margin of 2.54% and a positive return on equity of 4.06%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) earnings per share. Equities research analysts anticipate that Helmerich & Payne, Inc. will post 1.58 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 7.21%. The ex-dividend date of this dividend is Friday, August 9th. Helmerich & Payne’s payout ratio is 2,028.57%.
A number of analysts have recently weighed in on the stock. Wells Fargo & Co reiterated a “buy” rating on shares of Helmerich & Payne in a research note on Thursday, June 27th. TheStreet lowered shares of Helmerich & Payne from a “b-” rating to a “c+” rating in a research note on Tuesday, May 28th. Piper Jaffray Companies lowered their price target on shares of Helmerich & Payne from $57.00 to $52.50 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. AltaCorp Capital reissued an “outperform” rating on shares of Helmerich & Payne in a report on Thursday, June 20th. Finally, Evercore ISI started coverage on shares of Helmerich & Payne in a report on Thursday, June 6th. They set an “outperform” rating on the stock. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have issued a buy rating to the stock. Helmerich & Payne has an average rating of “Hold” and a consensus target price of $63.08.
Helmerich & Payne Company 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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