Fiera Capital Corp acquired a new stake in shares of Helmerich & Payne, Inc. (NYSE:HP) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 73,088 shares of the oil and gas company’s stock, valued at approximately $4,061,000.
A number of other hedge funds have also added to or reduced their stakes in HP. Millennium Management LLC lifted its position in Helmerich & Payne by 3,372.6% during the fourth quarter. Millennium Management LLC now owns 2,322,923 shares of the oil and gas company’s stock valued at $111,361,000 after purchasing an additional 2,256,030 shares during the last quarter. Norges Bank purchased a new stake in shares of Helmerich & Payne in the fourth quarter valued at $45,764,000. Thornburg Investment Management Inc. purchased a new stake in shares of Helmerich & Payne in the fourth quarter valued at $23,586,000. Wedge Capital Management L L P NC purchased a new stake in shares of Helmerich & Payne in the first quarter valued at $17,491,000. Finally, Two Sigma Advisers LP raised its stake in shares of Helmerich & Payne by 151.1% in the fourth quarter. Two Sigma Advisers LP now owns 493,593 shares of the oil and gas company’s stock valued at $23,663,000 after acquiring an additional 297,036 shares during the period. Institutional investors and hedge funds own 90.63% of the company’s stock.
Several equities research analysts have recently weighed in on the stock. Piper Jaffray Companies raised shares of Helmerich & Payne from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $64.00 to $60.00 in a research note on Friday, June 7th. Evercore ISI assumed coverage on shares of Helmerich & Payne in a research note on Thursday, June 6th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. set a $69.00 target price on shares of Helmerich & Payne and gave the company a “buy” rating in a research note on Wednesday, June 5th. TheStreet downgraded shares of Helmerich & Payne from a “b-” rating to a “c+” rating in a research note on Tuesday, May 28th. Finally, Zacks Investment Research downgraded shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $66.74.
HP stock opened at $49.44 on Thursday. The stock has a market capitalization of $5.62 billion, a P/E ratio of 353.14 and a beta of 1.56. Helmerich & Payne, Inc. has a 12 month low of $44.56 and a 12 month high of $73.74. The company has a current ratio of 2.80, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11.
Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.18. The company had revenue of $720.87 million for the quarter, compared to the consensus estimate of $712.29 million. Helmerich & Payne had a net margin of 2.65% and a return on equity of 2.95%. The firm’s revenue was up 24.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.05) EPS. On average, equities research analysts expect that Helmerich & Payne, Inc. will post 1.67 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 5.74%. The ex-dividend date of this dividend is Friday, August 9th. Helmerich & Payne’s dividend payout ratio is presently 2,028.57%.
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Helmerich & Payne Company Profile
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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