Helmerich & Payne, Inc. (NYSE:HP) Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC grew its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,384 shares of the oil and gas company’s stock after purchasing an additional 5,376 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Helmerich & Payne were worth $5,936,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Covestor Ltd lifted its stake in Helmerich & Payne by 76.9% in the 3rd quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 643 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Helmerich & Payne by 127.8% in the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock worth $46,000 after acquiring an additional 854 shares during the last quarter. Quarry LP purchased a new stake in shares of Helmerich & Payne in the third quarter valued at $48,000. Eastern Bank acquired a new stake in shares of Helmerich & Payne during the third quarter valued at $61,000. Finally, Steph & Co. purchased a new stake in Helmerich & Payne during the 4th quarter worth about $87,000. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Helmerich & Payne Price Performance

Shares of Helmerich & Payne stock opened at $36.38 on Friday. The business’s fifty day moving average price is $33.70 and its 200 day moving average price is $34.20. Helmerich & Payne, Inc. has a twelve month low of $29.46 and a twelve month high of $44.11. The company has a current ratio of 2.67, a quick ratio of 2.40 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $3.59 billion, a P/E ratio of 10.57, a PEG ratio of 4.22 and a beta of 1.39.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share for the quarter, meeting the consensus estimate of $0.76. The business had revenue of $693.79 million for the quarter, compared to analyst estimates of $695.99 million. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 EPS. As a group, research analysts anticipate that Helmerich & Payne, Inc. will post 3.11 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Friday, February 14th. Helmerich & Payne’s dividend payout ratio is presently 29.07%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HP. Citigroup raised shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and raised their price target for the stock from $33.00 to $40.00 in a research note on Friday, January 10th. Evercore ISI restated an “in-line” rating and set a $39.00 target price (down previously from $48.00) on shares of Helmerich & Payne in a research report on Wednesday. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a report on Thursday, November 21st. Barclays reduced their price target on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 20th. Finally, Royal Bank of Canada dropped their target price on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating for the company in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $39.50.

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.