Raymond James & Associates Has $2.50 Million Holdings in Helmerich & Payne, Inc. (NYSE:HP)

Raymond James & Associates grew its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 32.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 68,980 shares of the oil and gas company’s stock after purchasing an additional 17,034 shares during the period. Raymond James & Associates owned about 0.07% of Helmerich & Payne worth $2,498,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Global Alpha Capital Management Ltd. grew its position in shares of Helmerich & Payne by 51.6% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 559,491 shares of the oil and gas company’s stock worth $23,588,000 after purchasing an additional 190,400 shares in the last quarter. Gotham Asset Management LLC increased its stake in Helmerich & Payne by 92.7% in the third quarter. Gotham Asset Management LLC now owns 59,596 shares of the oil and gas company’s stock valued at $2,513,000 after acquiring an additional 28,675 shares during the last quarter. Dark Forest Capital Management LP bought a new position in Helmerich & Payne in the third quarter valued at approximately $1,053,000. Deutsche Bank AG increased its stake in Helmerich & Payne by 37.4% in the third quarter. Deutsche Bank AG now owns 61,596 shares of the oil and gas company’s stock valued at $2,597,000 after acquiring an additional 16,774 shares during the last quarter. Finally, Essex Investment Management Co. LLC increased its stake in Helmerich & Payne by 4,189.1% in the third quarter. Essex Investment Management Co. LLC now owns 31,439 shares of the oil and gas company’s stock valued at $1,325,000 after acquiring an additional 30,706 shares during the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Analyst Upgrades and Downgrades

HP has been the topic of a number of recent analyst reports. Benchmark cut shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Royal Bank of Canada lifted their price objective on shares of Helmerich & Payne from $46.00 to $48.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 31st. Susquehanna boosted their target price on shares of Helmerich & Payne from $50.00 to $52.00 and gave the stock a “positive” rating in a research note on Monday, April 8th. Barclays cut shares of Helmerich & Payne from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $44.00 to $40.00 in a research note on Wednesday, January 10th. Finally, Piper Sandler boosted their target price on shares of Helmerich & Payne from $41.00 to $44.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $42.88.

Helmerich & Payne Price Performance

Shares of NYSE:HP opened at $41.62 on Tuesday. The firm has a market cap of $4.11 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 8.76 and a beta of 1.51. The firm’s fifty day moving average is $40.18 and its 200-day moving average is $38.61. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.89 and a current ratio of 2.11. Helmerich & Payne, Inc. has a 52 week low of $30.41 and a 52 week high of $46.55.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Tuesday, January 30th. The oil and gas company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.24. The company had revenue of $677.00 million for the quarter, compared to analyst estimates of $661.81 million. Helmerich & Payne had a net margin of 15.27% and a return on equity of 15.06%. Helmerich & Payne’s revenue was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.11 earnings per share. Sell-side analysts predict that Helmerich & Payne, Inc. will post 3.59 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.04%. Helmerich & Payne’s dividend payout ratio (DPR) is presently 23.87%.

About Helmerich & Payne

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.