State Board of Administration of Florida Retirement System raised its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 0.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 139,703 shares of the oil and gas company’s stock after purchasing an additional 321 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Helmerich & Payne were worth $7,762,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Wedge Capital Management L L P NC acquired a new stake in Helmerich & Payne in the 1st quarter worth approximately $17,491,000. Crossmark Global Holdings Inc. boosted its stake in Helmerich & Payne by 2.9% in the 1st quarter. Crossmark Global Holdings Inc. now owns 11,548 shares of the oil and gas company’s stock worth $642,000 after purchasing an additional 320 shares in the last quarter. Comerica Bank boosted its stake in Helmerich & Payne by 51.0% in the 1st quarter. Comerica Bank now owns 61,580 shares of the oil and gas company’s stock worth $3,663,000 after purchasing an additional 20,803 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Helmerich & Payne by 29.4% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 143,388 shares of the oil and gas company’s stock worth $7,968,000 after purchasing an additional 32,617 shares in the last quarter. Finally, Park Avenue Securities LLC acquired a new stake in Helmerich & Payne in the 1st quarter worth approximately $280,000. 93.88% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently commented on HP shares. Wells Fargo & Co reiterated a “buy” rating and issued a $68.00 target price (up from $61.00) on shares of Helmerich & Payne in a research note on Wednesday, January 30th. Zacks Investment Research upgraded shares of Helmerich & Payne from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Tuesday, March 19th. BMO Capital Markets set a $60.00 price objective on shares of Helmerich & Payne and gave the company a “hold” rating in a research note on Tuesday, February 5th. Piper Jaffray Companies set a $61.00 target price on shares of Helmerich & Payne and gave the company a “hold” rating in a research note on Thursday, April 4th. Finally, Susquehanna Bancshares set a $70.00 target price on shares of Helmerich & Payne and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $66.47.
Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.38 by $0.18. The company had revenue of $720.87 million during the quarter, compared to analyst estimates of $712.29 million. Helmerich & Payne had a net margin of 2.65% and a return on equity of 2.95%. The firm’s revenue was up 24.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.05) EPS. On average, equities analysts predict that Helmerich & Payne, Inc. will post 1.69 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 13th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 5.09%. The ex-dividend date is Friday, May 10th. Helmerich & Payne’s payout ratio is presently 2,028.57%.
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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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