Front Barnett Associates LLC boosted its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 2.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 125,649 shares of the oil and gas company’s stock after purchasing an additional 2,562 shares during the period. Front Barnett Associates LLC owned about 0.12% of Helmerich & Payne worth $8,641,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in HP. Flagship Harbor Advisors LLC purchased a new position in shares of Helmerich & Payne during the 2nd quarter worth approximately $134,000. Viking Fund Management LLC purchased a new position in shares of Helmerich & Payne during the 2nd quarter worth approximately $159,000. Signition LP purchased a new position in shares of Helmerich & Payne during the 3rd quarter worth approximately $201,000. Eads & Heald Wealth Management purchased a new position in shares of Helmerich & Payne during the 3rd quarter worth approximately $202,000. Finally, Abner Herrman & Brock LLC purchased a new position in shares of Helmerich & Payne during the 3rd quarter worth approximately $206,000. Institutional investors own 92.17% of the company’s stock.
A number of research analysts have weighed in on HP shares. ValuEngine downgraded Helmerich & Payne from a “buy” rating to a “hold” rating in a report on Monday, July 16th. JPMorgan Chase & Co. upped their target price on Helmerich & Payne from $47.00 to $49.00 and gave the stock an “underweight” rating in a report on Friday, July 27th. Stephens upgraded Helmerich & Payne from an “equal weight” rating to an “overweight” rating and set a $67.00 target price on the stock in a report on Monday, July 30th. Piper Jaffray Companies set a $67.00 target price on Helmerich & Payne and gave the stock a “hold” rating in a report on Sunday, July 29th. Finally, Cowen set a $57.00 price target on Helmerich & Payne and gave the stock a “hold” rating in a research note on Monday, July 30th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $72.00.
In related news, CEO John W. Lindsay sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $70.00, for a total value of $2,100,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Chapman Paula Marshall sold 11,309 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $65.13, for a total value of $736,555.17. Following the completion of the transaction, the director now directly owns 14,874 shares in the company, valued at $968,743.62. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.
Helmerich & Payne stock opened at $62.59 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.57 and a current ratio of 2.97. Helmerich & Payne, Inc. has a twelve month low of $52.53 and a twelve month high of $75.02.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 12th will be paid a $0.71 dividend. The ex-dividend date is Thursday, November 8th. This represents a $2.84 annualized dividend and a dividend yield of 4.54%. Helmerich & Payne’s payout ratio is currently -223.62%.
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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