Ellington Management Group LLC grew its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 234.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,400 shares of the oil and gas company’s stock after purchasing an additional 12,900 shares during the quarter. Ellington Management Group LLC’s holdings in Helmerich & Payne were worth $1,189,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of HP. Private Advisor Group LLC acquired a new position in shares of Helmerich & Payne during the third quarter worth about $206,000. McCollum Christoferson Group LLC acquired a new position in shares of Helmerich & Payne during the fourth quarter worth about $209,000. IFM Investors Pty Ltd acquired a new position in shares of Helmerich & Payne during the fourth quarter worth about $215,000. Eads & Heald Investment Counsel acquired a new position in shares of Helmerich & Payne during the fourth quarter worth about $216,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of Helmerich & Payne in the third quarter worth about $222,000.
Several research analysts recently commented on the company. Susquehanna Bancshares upgraded Helmerich & Payne from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $42.16 to $75.00 in a research note on Friday. UBS Group upgraded Helmerich & Payne from a “neutral” rating to a “positive” rating in a research note on Friday. Zacks Investment Research cut Helmerich & Payne from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Argus boosted their price target on Helmerich & Payne from $65.00 to $87.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Finally, Societe Generale upgraded Helmerich & Payne from a “hold” rating to a “buy” rating in a research note on Monday, January 29th. Seven analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $58.08.
Shares of Helmerich & Payne, Inc. (HP) opened at $66.89 on Monday. The company has a quick ratio of 2.89, a current ratio of 3.28 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $7,282.10, a PE ratio of 18.18 and a beta of 1.31. Helmerich & Payne, Inc. has a fifty-two week low of $42.16 and a fifty-two week high of $75.02.
Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Thursday, January 25th. The oil and gas company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.14. The firm had revenue of $564.10 million during the quarter, compared to analyst estimates of $547.64 million. Helmerich & Payne had a negative return on equity of 1.90% and a net margin of 20.30%. Helmerich & Payne’s quarterly revenue was up 53.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.33) earnings per share.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Friday, May 18th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 4.19%. The ex-dividend date is Thursday, May 17th. Helmerich & Payne’s dividend payout ratio (DPR) is presently 76.09%.
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About Helmerich & Payne
Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.
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