Allspring Global Investments Holdings LLC grew its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 26.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 468,757 shares of the oil and gas company's stock after buying an additional 97,388 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.47% of Helmerich & Payne worth $12,422,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in HP. Bank of New York Mellon Corp boosted its holdings in Helmerich & Payne by 7.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,121,742 shares of the oil and gas company's stock worth $35,918,000 after purchasing an additional 77,099 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Helmerich & Payne during the fourth quarter worth about $469,000. Smartleaf Asset Management LLC boosted its holdings in Helmerich & Payne by 82.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,805 shares of the oil and gas company's stock worth $88,000 after purchasing an additional 1,268 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Helmerich & Payne during the fourth quarter worth about $131,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Helmerich & Payne by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,557,931 shares of the oil and gas company's stock worth $49,885,000 after purchasing an additional 53,277 shares during the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.
Helmerich & Payne Stock Performance
Shares of NYSE HP traded down $0.31 during midday trading on Monday, hitting $16.11. The company's stock had a trading volume of 2,163,569 shares, compared to its average volume of 1,754,313. The stock has a fifty day moving average price of $17.17 and a 200 day moving average price of $23.79. Helmerich & Payne, Inc. has a one year low of $14.65 and a one year high of $42.60. The company has a current ratio of 1.68, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 7.36 and a beta of 0.82.
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 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.63). The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $961.03 million. Helmerich & Payne had a net margin of 7.15% and a return on equity of 8.25%. Helmerich & Payne's revenue was up 47.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.84 EPS. On average, research analysts forecast that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.
Helmerich & Payne Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a $0.25 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 6.21%. Helmerich & Payne's dividend payout ratio is presently 45.66%.
Analysts Set New Price Targets
Several brokerages have commented on HP. Susquehanna lowered their price objective on shares of Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating on the stock in a research report on Tuesday, July 1st. Morgan Stanley lowered their price objective on shares of Helmerich & Payne from $27.00 to $20.00 and set an "underweight" rating on the stock in a research report on Friday, May 16th. The Goldman Sachs Group lowered their price objective on shares of Helmerich & Payne from $25.00 to $17.00 and set a "sell" rating on the stock in a research report on Tuesday, June 24th. Barclays lowered their price objective on shares of Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Friday, June 20th. Finally, TD Cowen lowered their price objective on shares of Helmerich & Payne from $28.00 to $26.00 and set a "hold" rating on the stock in a research report on Friday, May 9th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $26.09.
Read Our Latest Research Report on HP
About Helmerich & Payne
(
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.
Further Reading
Before you consider Helmerich & Payne, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Helmerich & Payne wasn't on the list.
While Helmerich & Payne currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
