Harbor Capital Advisors Inc. Increases Stock Holdings in Helmerich & Payne, Inc. (NYSE:HP)

Harbor Capital Advisors Inc. grew its stake in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 10,355.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,381 shares of the oil and gas company's stock after purchasing an additional 29,100 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Helmerich & Payne were worth $767,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Helmerich & Payne by 18.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 413,542 shares of the oil and gas company's stock valued at $13,242,000 after buying an additional 64,971 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Helmerich & Payne during the fourth quarter worth approximately $2,788,000. Private Capital Management LLC bought a new stake in shares of Helmerich & Payne during the third quarter valued at approximately $1,095,000. Fisher Asset Management LLC raised its stake in shares of Helmerich & Payne by 4.6% during the fourth quarter. Fisher Asset Management LLC now owns 1,413,749 shares of the oil and gas company's stock valued at $45,268,000 after acquiring an additional 62,377 shares in the last quarter. Finally, Magnetar Financial LLC boosted its holdings in shares of Helmerich & Payne by 389.3% in the fourth quarter. Magnetar Financial LLC now owns 38,754 shares of the oil and gas company's stock valued at $1,241,000 after purchasing an additional 30,833 shares during the period. 96.05% of the stock is currently owned by institutional investors.

Helmerich & Payne Stock Up 0.7%

HP stock traded up $0.12 during trading on Tuesday, reaching $18.15. 2,242,205 shares of the company traded hands, compared to its average volume of 1,709,487. The business has a 50 day simple moving average of $18.19 and a 200 day simple moving average of $25.52. Helmerich & Payne, Inc. has a 12 month low of $14.65 and a 12 month high of $42.60. 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 company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 8.29 and a beta of 0.83.

Helmerich & Payne (NYSE:HP - Get Free Report) last released 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 net margin of 7.15% and a return on equity of 8.25%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $961.03 million. During the same quarter in the prior year, the business posted $0.84 earnings per share. The firm's quarterly revenue was up 47.7% on a year-over-year basis. On average, equities research analysts anticipate that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company 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 $0.25 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.00 annualized dividend and a yield of 5.51%. Helmerich & Payne's dividend payout ratio (DPR) is 45.66%.

Wall Street Analysts Forecast Growth

HP has been the topic of several research reports. Wall Street Zen downgraded Helmerich & Payne from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Citigroup reissued a "neutral" rating and set a $19.00 price target (down previously from $25.00) on shares of Helmerich & Payne in a research report on Monday, May 19th. Susquehanna cut their price target on Helmerich & Payne from $43.00 to $28.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. TD Cowen decreased their price objective on Helmerich & Payne from $28.00 to $26.00 and set a "hold" rating for the company in a report on Friday, May 9th. Finally, 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. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Helmerich & Payne has an average rating of "Hold" and a consensus target price of $27.73.

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.