Fairfax Financial Holdings Ltd. Can Acquires 219,000 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Fairfax Financial Holdings Ltd. Can lifted its stake in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 39.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 774,105 shares of the oil and gas company's stock after acquiring an additional 219,000 shares during the quarter. Helmerich & Payne comprises approximately 1.6% of Fairfax Financial Holdings Ltd. Can's holdings, making the stock its 12th largest position. Fairfax Financial Holdings Ltd. Can owned about 0.78% of Helmerich & Payne worth $24,787,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Earnest Partners LLC grew its holdings in Helmerich & Payne by 1.0% during the fourth quarter. Earnest Partners LLC now owns 3,487,019 shares of the oil and gas company's stock valued at $111,654,000 after purchasing an additional 35,013 shares during the last quarter. ARGA Investment Management LP grew its holdings in Helmerich & Payne by 42.5% during the fourth quarter. ARGA Investment Management LP now owns 2,686,215 shares of the oil and gas company's stock valued at $86,013,000 after purchasing an additional 801,000 shares during the last quarter. American Century Companies Inc. grew its holdings in Helmerich & Payne by 14.0% during the fourth quarter. American Century Companies Inc. now owns 2,658,356 shares of the oil and gas company's stock valued at $85,121,000 after purchasing an additional 327,374 shares during the last quarter. Northern Trust Corp boosted its position in shares of Helmerich & Payne by 5.1% in the fourth quarter. Northern Trust Corp now owns 1,699,388 shares of the oil and gas company's stock valued at $54,414,000 after acquiring an additional 82,254 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Helmerich & Payne by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,557,931 shares of the oil and gas company's stock valued at $49,885,000 after acquiring an additional 53,277 shares during the period. Institutional investors and hedge funds own 96.05% of the company's stock.

Helmerich & Payne Price Performance

Shares of NYSE HP traded down $0.25 during midday trading on Wednesday, reaching $18.87. 993,736 shares of the company traded hands, compared to its average volume of 1,551,068. The firm has a market cap of $1.88 billion, a PE ratio of 6.21, a PEG ratio of 3.52 and a beta of 0.93. The stock's 50-day simple moving average is $21.96 and its 200-day simple moving average is $28.63. Helmerich & Payne, Inc. has a 12 month low of $17.60 and a 12 month high of $42.60. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.65 by ($0.63). The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $961.03 million. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. The firm's revenue was up 47.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.84 earnings per share. As a group, equities analysts anticipate that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a yield of 5.30%. Helmerich & Payne's dividend payout ratio (DPR) is presently 45.66%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on HP shares. Morgan Stanley reissued an "underweight" rating and issued a $27.00 price objective on shares of Helmerich & Payne in a research report on Thursday, March 27th. Barclays reduced their price objective on Helmerich & Payne from $24.00 to $20.00 and set an "equal weight" rating for the company in a research report on Wednesday. Susquehanna reduced their price objective on Helmerich & Payne from $43.00 to $28.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Evercore ISI reaffirmed an "in-line" rating and issued a $39.00 price target (down previously from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. Finally, Royal Bank of Canada cut their price target on Helmerich & Payne from $41.00 to $35.00 and set a "sector perform" rating for the company in a report on Friday, February 7th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Helmerich & Payne currently has a consensus rating of "Hold" and an average target price of $30.10.

Helmerich & Payne Company 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.