Wakefield Asset Management LLLP lifted its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 9.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,696 shares of the oil and gas company’s stock after acquiring an additional 3,669 shares during the quarter. Wakefield Asset Management LLLP’s holdings in Helmerich & Payne were worth $2,372,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Liberty Wealth Management LLC bought a new stake in shares of Helmerich & Payne during the 4th quarter valued at $26,000. Cullen Frost Bankers Inc. bought a new stake in shares of Helmerich & Payne during the 1st quarter valued at $28,000. Arbor Wealth Management LLC bought a new stake in shares of Helmerich & Payne during the 4th quarter valued at $30,000. Capital Investment Advisory Services LLC bought a new stake in shares of Helmerich & Payne during the 4th quarter valued at $31,000. Finally, CSat Investment Advisory L.P. lifted its position in shares of Helmerich & Payne by 41.5% during the 4th 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 period. Institutional investors own 94.10% of the company’s stock.
HP traded down $1.14 on Monday, reaching $56.33. The stock had a trading volume of 8,901 shares, compared to its average volume of 1,062,468. Helmerich & Payne, Inc. has a fifty-two week low of $44.56 and a fifty-two week high of $73.87. The company has a quick ratio of 2.37, a current ratio of 2.80 and a debt-to-equity ratio of 0.11. The stock has a market cap of $6.29 billion, a PE ratio of 403.14 and a beta of 1.52.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 13th will be issued a $0.71 dividend. The ex-dividend date is Friday, May 10th. This represents a $2.84 dividend on an annualized basis and a yield of 5.04%. Helmerich & Payne’s payout ratio is presently 2,028.57%.
A number of analysts have recently weighed in on HP shares. JPMorgan Chase & Co. upgraded Helmerich & Payne from a “neutral” rating to an “overweight” rating and cut their target price for the company from $66.00 to $63.00 in a research report on Tuesday, January 15th. Zacks Investment Research downgraded Helmerich & Payne from a “hold” rating to a “sell” rating in a research report on Monday, January 21st. Seaport Global Securities reissued a “hold” rating on shares of Helmerich & Payne in a report on Wednesday, January 30th. Wells Fargo & Co reissued a “buy” rating and set a $68.00 price target (up previously from $61.00) on shares of Helmerich & Payne in a report on Wednesday, January 30th. Finally, Bank of America raised Helmerich & Payne from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $55.00 to $68.00 in a report on Thursday, January 31st. Three 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. The stock has a consensus rating of “Hold” and a consensus price target of $66.47.
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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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