Grace & White Inc. NY Purchases 32,856 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Grace & White Inc. NY increased its holdings 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 disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 0.11% of Helmerich & Payne worth $2,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Summit Investment Advisors Inc. increased its position in Helmerich & Payne by 4.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,113 shares of the oil and gas company's stock valued at $324,000 after acquiring an additional 395 shares during the last quarter. LPL Financial LLC increased 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 acquiring an additional 408 shares during the last quarter. Napatree Capital LLC increased its position in Helmerich & Payne by 2.5% during the fourth quarter. Napatree Capital LLC now owns 20,847 shares of the oil and gas company's stock valued at $668,000 after acquiring an additional 511 shares during the last quarter. Ellis Investment Partners LLC increased its position in Helmerich & Payne by 4.5% during the first quarter. Ellis Investment Partners LLC now owns 12,999 shares of the oil and gas company's stock valued at $340,000 after acquiring an additional 558 shares during the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in Helmerich & Payne during the fourth quarter valued at $27,000. 96.05% of the stock is owned by institutional investors.

Helmerich & Payne Price Performance

Shares of NYSE:HP traded up $0.06 during trading on Thursday, hitting $15.54. 2,348,460 shares of the company's stock were exchanged, compared to its average volume of 1,728,075. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.68 and a quick ratio of 1.32. Helmerich & Payne, Inc. has a 52-week low of $14.65 and a 52-week high of $42.60. The business's 50-day simple moving average is $17.73 and its 200 day simple moving average is $24.70. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 7.10 and a beta of 0.83.

Helmerich & Payne (NYSE:HP - Get Free Report) last released 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). 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 for the quarter, compared to analysts' expectations of $961.03 million. During the same quarter in the prior year, the business posted $0.84 EPS. The business's revenue for the quarter was up 47.7% compared to the same quarter last year. As a group, equities analysts predict that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 6.44%. The ex-dividend date is Friday, August 15th. Helmerich & Payne's dividend payout ratio is currently 45.66%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on HP shares. Wall Street Zen cut Helmerich & Payne from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. TD Cowen reduced their price target on Helmerich & Payne from $28.00 to $26.00 and set a "hold" rating for the company in a research report on Friday, May 9th. Susquehanna reduced their price target on Helmerich & Payne from $43.00 to $28.00 and set a "positive" rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group reduced their price target on Helmerich & Payne from $25.00 to $17.00 and set a "sell" rating for the company in a research report on Tuesday. Finally, Barclays reduced their price target on Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating for the company in a research report on Friday, June 20th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $26.55.

Helmerich & Payne 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.