Envestnet Asset Management Inc. Raises Stock Holdings in Helmerich & Payne, Inc. (NYSE:HP)

Envestnet Asset Management Inc. increased its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 4.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 374,163 shares of the oil and gas company's stock after purchasing an additional 16,880 shares during the quarter. Envestnet Asset Management Inc. owned 0.38% of Helmerich & Payne worth $9,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc raised its stake in Helmerich & Payne by 104.2% during the 1st quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company's stock valued at $44,000 after buying an additional 867 shares during the last quarter. Covestor Ltd grew 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 worth $76,000 after acquiring an additional 907 shares during the period. GAMMA Investing LLC increased its position in Helmerich & Payne by 85.4% during the first quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company's stock valued at $83,000 after acquiring an additional 1,459 shares during the last quarter. Sterling Capital Management LLC boosted its position in 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 worth $98,000 after purchasing an additional 2,714 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Helmerich & Payne by 120.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,533 shares of the oil and gas company's stock worth $113,000 after buying an additional 1,932 shares during the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.

Helmerich & Payne Price Performance

Shares of Helmerich & Payne stock traded down $0.22 on Thursday, hitting $16.84. 2,462,786 shares of the company traded hands, compared to its average volume of 1,886,585. Helmerich & Payne, Inc. has a 52 week low of $14.65 and a 52 week high of $42.60. The business has a 50-day simple moving average of $16.46 and a 200 day simple moving average of $22.53. 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 $1.67 billion, a P/E ratio of 7.69 and a beta of 0.82.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.63). The company 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%. The business's revenue was up 47.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.84 earnings per share. Research analysts expect that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given 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 5.94%. Helmerich & Payne's payout ratio is 45.66%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on HP shares. TD Cowen reduced their target price on shares of Helmerich & Payne from $28.00 to $26.00 and set a "hold" rating for the company in a report on Friday, May 9th. Piper Sandler started coverage on Helmerich & Payne in a research report on Monday, July 14th. They set a "neutral" rating and a $20.00 target price on the stock. Citigroup reissued a "neutral" rating and set a $17.00 price target (down previously from $19.00) on shares of Helmerich & Payne in a report on Thursday, June 26th. JPMorgan Chase & Co. lowered their price objective on Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Finally, Barclays reduced their target price on shares of Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating for the company in a report on Friday, June 20th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, Helmerich & Payne currently has a consensus rating of "Hold" and a consensus target price of $23.10.

About Helmerich & Payne

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.