Raymond James Financial Inc. Acquires Shares of 87,080 Helmerich & Payne, Inc. (NYSE:HP)

Raymond James Financial Inc. purchased a new position in Helmerich & Payne, Inc. (NYSE:HP - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 87,080 shares of the oil and gas company's stock, valued at approximately $2,788,000. Raymond James Financial Inc. owned about 0.09% of Helmerich & Payne as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Kestra Investment Management LLC bought a new stake in shares of Helmerich & Payne during the 4th quarter worth approximately $27,000. Steph & Co. purchased a new stake in Helmerich & Payne in the fourth quarter worth $87,000. Smartleaf Asset Management LLC lifted its position in shares of Helmerich & Payne by 82.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,805 shares of the oil and gas company's stock worth $88,000 after purchasing an additional 1,268 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Helmerich & Payne by 143.3% during the fourth quarter. Blue Trust Inc. now owns 3,703 shares of the oil and gas company's stock valued at $113,000 after purchasing an additional 2,181 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Helmerich & Payne in the 4th quarter worth about $121,000. 96.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HP has been the topic of a number of research analyst reports. Susquehanna dropped their target price on shares of Helmerich & Payne from $43.00 to $28.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Citigroup decreased their target price on Helmerich & Payne from $33.00 to $32.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group dropped their price target on Helmerich & Payne from $32.00 to $25.00 and set a "sell" rating on the stock in a research report on Thursday, April 10th. Morgan Stanley restated an "underweight" rating and issued a $27.00 price objective on shares of Helmerich & Payne in a report on Thursday, March 27th. Finally, Argus upgraded shares of Helmerich & Payne to a "hold" rating in a report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $31.78.

Helmerich & Payne Stock Down 4.9 %

Helmerich & Payne stock traded down $0.97 during midday trading on Wednesday, reaching $18.88. The company's stock had a trading volume of 1,784,956 shares, compared to its average volume of 1,518,833. Helmerich & Payne, Inc. has a 52-week low of $17.82 and a 52-week high of $42.60. The stock has a market capitalization of $1.88 billion, a P/E ratio of 6.21, a PEG ratio of 3.52 and a beta of 1.00. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.52. The stock's 50-day simple moving average is $23.18 and its 200-day simple moving average is $29.62.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.02. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. On average, sell-side analysts expect that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.00 annualized dividend and a yield of 5.30%. Helmerich & Payne's payout ratio is presently 32.89%.

Insider Activity

In other news, Director Belgacem Chariag acquired 37,356 shares of the firm's stock in a transaction on Monday, February 10th. The stock was acquired at an average price of $27.08 per share, for a total transaction of $1,011,600.48. Following the completion of the transaction, the director now owns 54,606 shares in the company, valued at approximately $1,478,730.48. The trade was a 216.56 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John W. Lindsay purchased 20,000 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average price of $27.55 per share, with a total value of $551,000.00. Following the purchase, the chief executive officer now owns 691,214 shares in the company, valued at $19,042,945.70. This represents a 2.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 4.51% of the company's stock.

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.