Helmerich & Payne, Inc. (NYSE:HP) Shares Acquired by Legato Capital Management LLC

Legato Capital Management LLC increased its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 93.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 76,064 shares of the oil and gas company’s stock after acquiring an additional 36,828 shares during the period. Legato Capital Management LLC owned approximately 0.08% of Helmerich & Payne worth $2,436,000 as of its most recent SEC filing.

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

Helmerich & Payne Trading Down 0.5 %

Shares of HP opened at $27.30 on Wednesday. Helmerich & Payne, Inc. has a 12-month low of $26.61 and a 12-month high of $44.11. The firm has a market capitalization of $2.71 billion, a P/E ratio of 8.98, a P/E/G ratio of 3.41 and a beta of 1.37. The firm has a 50-day moving average price of $32.80 and a 200 day moving average price of $33.49. The company has a current ratio of 2.81, a quick ratio of 2.40 and a debt-to-equity ratio of 0.60.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. Sell-side analysts forecast that Helmerich & Payne, Inc. will post 3.11 EPS for the current year.

Helmerich & Payne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.25 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.00 dividend on an annualized basis and a yield of 3.66%. Helmerich & Payne’s dividend payout ratio is currently 32.89%.

Insider Activity

In related news, Director Belgacem Chariag acquired 37,356 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average price of $27.08 per share, with a total value of $1,011,600.48. Following the transaction, the director now owns 54,606 shares of the company’s stock, valued at approximately $1,478,730.48. This trade represents a 216.56 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John W. Lindsay bought 20,000 shares of the business’s stock in a transaction on Monday, February 10th. The stock was purchased at an average cost of $27.55 per share, for a total transaction of $551,000.00. Following the transaction, the chief executive officer now owns 691,214 shares of the company’s stock, valued at $19,042,945.70. This trade 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.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Citigroup upgraded Helmerich & Payne from a “neutral” rating to a “buy” rating and raised their target price for the company from $33.00 to $40.00 in a research report on Friday, January 10th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Evercore ISI reaffirmed an “in-line” rating and set a $39.00 target price (down previously from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Royal Bank of Canada dropped their target price on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Finally, Barclays decreased their price target on shares of 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Helmerich & Payne presently has an average rating of “Hold” and an average price target of $38.75.

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.