Bank of America Corp DE Acquires 441,688 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Bank of America Corp DE increased its position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 542.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 523,047 shares of the oil and gas company's stock after purchasing an additional 441,688 shares during the period. Bank of America Corp DE owned 0.53% of Helmerich & Payne worth $16,748,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new position in shares of Helmerich & Payne in the fourth quarter valued at $27,000. Covestor Ltd increased its holdings in shares of Helmerich & Payne by 61.3% in the fourth quarter. Covestor Ltd now owns 2,386 shares of the oil and gas company's stock valued at $76,000 after buying an additional 907 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Helmerich & Payne by 82.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,805 shares of the oil and gas company's stock valued at $88,000 after buying an additional 1,268 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of Helmerich & Payne by 817.5% in the fourth quarter. Sterling Capital Management LLC now owns 3,046 shares of the oil and gas company's stock valued at $98,000 after buying an additional 2,714 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Helmerich & Payne by 143.3% in the fourth quarter. Blue Trust Inc. now owns 3,703 shares of the oil and gas company's stock valued at $113,000 after buying an additional 2,181 shares in the last quarter. Institutional investors own 96.05% of the company's stock.

Helmerich & Payne Stock Down 0.8%

NYSE:HP traded down $0.13 during trading hours on Monday, hitting $15.49. 2,405,201 shares of the stock traded hands, compared to its average volume of 1,613,785. The firm has a 50 day moving average price of $20.38 and a 200 day moving average price of $27.46. The company has a current ratio of 2.81, a quick ratio of 2.52 and a debt-to-equity ratio of 0.60. Helmerich & Payne, Inc. has a fifty-two week low of $14.65 and a fifty-two week high of $42.60. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 5.10, a PEG ratio of 3.52 and a beta of 0.93.

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

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.46%. The ex-dividend date is Thursday, May 15th. Helmerich & Payne's dividend payout ratio (DPR) is presently 45.66%.

Analyst Upgrades and Downgrades

HP has been the topic of several research reports. Citigroup reaffirmed a "neutral" rating and issued a $19.00 price target (down previously from $25.00) on shares of Helmerich & Payne in a report on Monday, May 19th. Royal Bank of Canada dropped their price target on Helmerich & Payne from $41.00 to $35.00 and set a "sector perform" rating on the stock in a report on Friday, February 7th. Susquehanna dropped their price target on Helmerich & Payne from $43.00 to $28.00 and set a "positive" rating on the stock in a report on Monday, April 14th. The Goldman Sachs Group dropped their price target on Helmerich & Payne from $32.00 to $25.00 and set a "sell" rating on the stock in a report on Thursday, April 10th. Finally, Barclays cut their target price on shares of Helmerich & Payne from $24.00 to $20.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 14th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $28.80.

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.