Helmerich & Payne, Inc. (NYSE:HP) Position Increased by SFE Investment Counsel

SFE Investment Counsel raised its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 5.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,975 shares of the oil and gas company’s stock after purchasing an additional 675 shares during the period. SFE Investment Counsel’s holdings in Helmerich & Payne were worth $657,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in HP. Commonwealth Bank of Australia boosted its holdings in shares of Helmerich & Payne by 150.0% during the first quarter. Commonwealth Bank of Australia now owns 500 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 300 shares during the period. Cullen Frost Bankers Inc. acquired a new position in shares of Helmerich & Payne during the first quarter valued at $28,000. Synovus Financial Corp boosted its holdings in shares of Helmerich & Payne by 45.0% during the first quarter. Synovus Financial Corp now owns 580 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 180 shares during the period. CSat Investment Advisory L.P. boosted its holdings in shares of Helmerich & Payne by 38.6% during the first quarter. CSat Investment Advisory L.P. now owns 941 shares of the oil and gas company’s stock valued at $52,000 after acquiring an additional 262 shares during the period. Finally, NuWave Investment Management LLC boosted its holdings in shares of Helmerich & Payne by 9,520.0% during the first quarter. NuWave Investment Management LLC now owns 962 shares of the oil and gas company’s stock valued at $54,000 after acquiring an additional 952 shares during the period. Hedge funds and other institutional investors own 90.58% of the company’s stock.

Several equities research analysts recently weighed in on the stock. AltaCorp Capital reaffirmed an “outperform” rating on shares of Helmerich & Payne in a report on Thursday, June 20th. Royal Bank of Canada set a $65.00 price objective on shares of Helmerich & Payne and gave the stock a “buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. reduced their price objective on shares of Helmerich & Payne from $64.00 to $54.00 and set an “overweight” rating for the company in a report on Tuesday. TheStreet downgraded shares of Helmerich & Payne from a “b-” rating to a “c+” rating in a report on Tuesday, May 28th. Finally, Piper Jaffray Companies cut their price target on shares of Helmerich & Payne from $57.00 to $52.50 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $63.08.

Shares of HP traded down $0.82 during trading hours on Wednesday, reaching $43.02. The company’s stock had a trading volume of 82,396 shares, compared to its average volume of 1,483,107. The firm has a 50 day moving average of $49.75. Helmerich & Payne, Inc. has a 1-year low of $41.67 and a 1-year high of $73.74. The company has a market cap of $5.05 billion, a price-to-earnings ratio of 307.36 and a beta of 1.49. The company has a current ratio of 2.86, a quick ratio of 2.47 and a debt-to-equity ratio of 0.12.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. Helmerich & Payne had a positive return on equity of 4.06% and a negative net margin of 2.54%. The firm had revenue of $687.97 million for the quarter, compared to the consensus estimate of $689.41 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. Equities research analysts anticipate that Helmerich & Payne, Inc. will post 1.57 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.84 dividend on an annualized basis and a yield of 6.60%. Helmerich & Payne’s dividend payout ratio is currently 2,028.57%.

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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Institutional Ownership by Quarter for Helmerich & Payne (NYSE:HP)

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