Cozad Asset Management Inc. Makes New Investment in Helmerich & Payne, Inc. (NYSE:HP)

Cozad Asset Management Inc. purchased a new position in Helmerich & Payne, Inc. (NYSE:HP - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 45,739 shares of the oil and gas company's stock, valued at approximately $1,195,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Sei Investments Co. grew its stake in shares of Helmerich & Payne by 4.3% in the 4th quarter. Sei Investments Co. now owns 33,116 shares of the oil and gas company's stock worth $1,060,000 after acquiring an additional 1,357 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Helmerich & Payne during the fourth quarter valued at about $644,000. LPL Financial LLC grew its position in Helmerich & Payne by 1.9% during the fourth quarter. LPL Financial LLC now owns 21,763 shares of the oil and gas company's stock valued at $697,000 after buying an additional 408 shares during the period. JPMorgan Chase & Co. grew its position in Helmerich & Payne by 21.7% during the fourth quarter. JPMorgan Chase & Co. now owns 721,831 shares of the oil and gas company's stock valued at $23,113,000 after buying an additional 128,501 shares during the period. Finally, Norges Bank bought a new position in Helmerich & Payne during the fourth quarter valued at about $21,572,000. Institutional investors and hedge funds own 96.05% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on HP shares. Susquehanna dropped their price objective on shares of Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating on the stock in a report on Tuesday, July 1st. Morgan Stanley lowered their price target on shares of Helmerich & Payne from $27.00 to $20.00 and set an "underweight" rating on the stock in a report on Friday, May 16th. Piper Sandler began coverage on shares of Helmerich & Payne in a report on Monday, July 14th. They issued a "neutral" rating and a $20.00 price target on the stock. JPMorgan Chase & Co. lowered their target price on shares of Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Finally, TD Cowen lowered their target price on shares of Helmerich & Payne from $28.00 to $26.00 and set a "hold" rating on the stock in a research note on Friday, May 9th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $23.10.

Helmerich & Payne Stock Down 4.1%

Shares of HP traded down $0.70 during trading hours on Wednesday, hitting $16.53. The company had a trading volume of 2,170,865 shares, compared to its average volume of 1,723,307. The firm has a fifty day moving average price of $16.50 and a 200-day moving average price of $22.07. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.68. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 7.55 and a beta of 0.82. Helmerich & Payne, Inc. has a 52-week low of $14.65 and a 52-week high of $40.84.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued its 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 8.25% and a net margin of 7.15%. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $961.03 million. During the same period last year, the firm posted $0.84 EPS. Helmerich & Payne's quarterly revenue was up 47.7% compared to the same quarter last year. On average, equities research analysts forecast that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company 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 dividend of $0.25 per share. The ex-dividend date is Friday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.05%. Helmerich & Payne's dividend payout ratio is currently 45.66%.

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.