Grace & White Inc. NY Raises Stock Position in Helmerich & Payne, Inc. (NYSE:HP)

Grace & White Inc. NY raised its stake in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 40.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 113,342 shares of the oil and gas company's stock after purchasing an additional 32,856 shares during the quarter. Grace & White Inc. NY owned approximately 0.11% of Helmerich & Payne worth $2,960,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in HP. Balyasny Asset Management L.P. purchased a new position in Helmerich & Payne during the 4th quarter valued at $28,708,000. Norges Bank bought a new stake in shares of Helmerich & Payne during the 4th quarter valued at $21,572,000. Bank of America Corp DE boosted its holdings in shares of Helmerich & Payne by 542.9% during the 4th quarter. Bank of America Corp DE now owns 523,047 shares of the oil and gas company's stock valued at $16,748,000 after buying an additional 441,688 shares in the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of Helmerich & Payne during the 4th quarter valued at $10,931,000. Finally, American Century Companies Inc. boosted its holdings in shares of Helmerich & Payne by 14.0% during the 4th 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 buying an additional 327,374 shares in the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.

Helmerich & Payne Price Performance

HP opened at $17.08 on Monday. 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 $1.70 billion, a P/E ratio of 7.80 and a beta of 0.84. The company's 50-day simple moving average is $18.05 and its two-hundred day simple moving average is $25.08. Helmerich & Payne, Inc. has a 52-week low of $14.65 and a 52-week high of $42.60.

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 (EPS) 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 the consensus estimate 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 quarter in the prior year, the company posted $0.84 EPS. As a group, analysts predict that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Dividend Announcement

The business also recently announced 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. This represents a $1.00 annualized dividend and a yield of 5.85%. The ex-dividend date is Friday, August 15th. Helmerich & Payne's dividend payout ratio is currently 45.66%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. The Goldman Sachs Group dropped their target price on shares of Helmerich & Payne from $32.00 to $25.00 and set a "sell" rating on the stock in a report on Thursday, April 10th. Barclays dropped their target price on shares of Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating on the stock in a report on Friday. Wall Street Zen cut shares of Helmerich & Payne from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Citigroup restated a "neutral" rating and set a $19.00 target price (down previously from $25.00) on shares of Helmerich & Payne in a report on Monday, May 19th. Finally, TD Cowen dropped their price target 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 research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $27.45.

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.

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