Helmerich & Payne, Inc. (NYSE:HP) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its stake in Helmerich & Payne, Inc. (NYSE:HP) by 11.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,807 shares of the oil and gas company’s stock after purchasing an additional 7,012 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.07% of Helmerich & Payne worth $2,492,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Raymond James & Associates increased its stake in shares of Helmerich & Payne by 189.6% during the third quarter. Raymond James & Associates now owns 51,946 shares of the oil and gas company’s stock worth $2,190,000 after acquiring an additional 34,007 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Helmerich & Payne by 5.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,178 shares of the oil and gas company’s stock worth $935,000 after purchasing an additional 1,118 shares during the period. Strs Ohio raised its stake in shares of Helmerich & Payne by 134.3% during the 3rd quarter. Strs Ohio now owns 31,400 shares of the oil and gas company’s stock worth $1,323,000 after buying an additional 18,000 shares in the last quarter. Advisor Partners II LLC acquired a new stake in shares of Helmerich & Payne in the 3rd quarter valued at approximately $251,000. Finally, TD Asset Management Inc boosted its stake in shares of Helmerich & Payne by 71.7% in the third quarter. TD Asset Management Inc now owns 29,700 shares of the oil and gas company’s stock valued at $1,252,000 after buying an additional 12,400 shares in the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on HP. The Goldman Sachs Group reduced their target price on Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating for the company in a report on Friday, January 12th. Citigroup boosted their price objective on shares of Helmerich & Payne from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a report on Thursday, April 25th. Royal Bank of Canada boosted their price target on Helmerich & Payne from $46.00 to $48.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 31st. Finally, Susquehanna dropped their price objective on Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating for the company in a research note on Friday, April 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $42.63.

Insider Activity

In other Helmerich & Payne news, SVP Cara M. Hair sold 9,910 shares of the firm’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $40.22, for a total value of $398,580.20. Following the sale, the senior vice president now directly owns 137,764 shares of the company’s stock, valued at approximately $5,540,868.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Mark W. Smith sold 16,000 shares of Helmerich & Payne stock in a transaction on Monday, April 29th. The stock was sold at an average price of $40.49, for a total value of $647,840.00. Following the transaction, the chief financial officer now owns 144,870 shares in the company, valued at $5,865,786.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Cara M. Hair sold 9,910 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $40.22, for a total value of $398,580.20. Following the sale, the senior vice president now owns 137,764 shares of the company’s stock, valued at $5,540,868.08. The disclosure for this sale can be found here. Company insiders own 4.38% of the company’s stock.

Helmerich & Payne Trading Down 2.8 %

Helmerich & Payne stock opened at $38.22 on Thursday. The stock has a market cap of $3.77 billion, a PE ratio of 10.92, a P/E/G ratio of 1.95 and a beta of 1.51. The company has a current ratio of 2.16, a quick ratio of 1.92 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average price of $40.79 and a 200 day moving average price of $38.63. 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 Thursday, April 25th. The oil and gas company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01). Helmerich & Payne had a return on equity of 13.21% and a net margin of 12.84%. The firm had revenue of $687.94 million for the quarter, compared to analysts’ expectations of $682.51 million. During the same quarter last year, the firm earned $1.26 earnings per share. The business’s quarterly revenue was down 10.6% compared to the same quarter last year. Equities research analysts predict that Helmerich & Payne, Inc. will post 3.59 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently disclosed 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. This represents a $1.68 annualized dividend and a dividend yield of 4.40%. The ex-dividend date is Thursday, May 16th. Helmerich & Payne’s dividend payout ratio (DPR) is 28.57%.

Helmerich & Payne Profile

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.