Wealth Enhancement Advisory Services LLC Makes New Investment in Helmerich & Payne, Inc. (NYSE:HP)

Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Helmerich & Payne, Inc. (NYSE:HPFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,731 shares of the oil and gas company’s stock, valued at approximately $248,000.

Other institutional investors have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Helmerich & Payne by 18.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 413,542 shares of the oil and gas company’s stock valued at $13,242,000 after purchasing an additional 64,971 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Helmerich & Payne during the fourth quarter valued at $2,788,000. Private Capital Management LLC purchased a new position in Helmerich & Payne during the third quarter valued at $1,095,000. Fisher Asset Management LLC increased its holdings in shares of Helmerich & Payne by 4.6% in the 4th quarter. Fisher Asset Management LLC now owns 1,413,749 shares of the oil and gas company’s stock worth $45,268,000 after purchasing an additional 62,377 shares in the last quarter. Finally, Magnetar Financial LLC increased its holdings in shares of Helmerich & Payne by 389.3% in the 4th quarter. Magnetar Financial LLC now owns 38,754 shares of the oil and gas company’s stock worth $1,241,000 after purchasing an additional 30,833 shares in the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Price Performance

Shares of Helmerich & Payne stock opened at $18.30 on Monday. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 6.02, a PEG ratio of 3.52 and a beta of 0.83. Helmerich & Payne, Inc. has a 52 week low of $14.65 and a 52 week high of $42.60. The stock’s 50-day simple moving average is $18.28 and its 200-day simple moving average is $25.69.

Helmerich & Payne (NYSE:HPGet Free Report) last posted its earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.63). The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $961.03 million. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. Helmerich & Payne’s quarterly revenue was up 47.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.84 earnings per share. As a group, analysts expect that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.47%. Helmerich & Payne’s dividend payout ratio is currently 45.66%.

Wall Street Analyst Weigh In

A number of analysts have commented on HP shares. JPMorgan Chase & Co. reduced their target price on Helmerich & Payne from $25.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, May 28th. TD Cowen reduced their target price on Helmerich & Payne from $28.00 to $26.00 and set a “hold” rating for the company in a report on Friday, May 9th. The Goldman Sachs Group cut their price objective on Helmerich & Payne from $32.00 to $25.00 and set a “sell” rating for the company in a report on Thursday, April 10th. Barclays cut their price target on Helmerich & Payne from $24.00 to $20.00 and set an “equal weight” rating for the company in a report on Wednesday, May 14th. Finally, Citigroup restated a “neutral” rating and issued a $19.00 price objective (down from $25.00) on shares of Helmerich & Payne in a research report on Monday, May 19th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Helmerich & Payne currently has an average rating of “Hold” and a consensus price target of $27.73.

Check Out Our Latest Analysis on HP

Helmerich & Payne Profile

(Free Report)

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.

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

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