Vestcor Inc Increases Holdings in Helmerich & Payne, Inc. (NYSE:HP)

Vestcor Inc boosted its position in Helmerich & Payne, Inc. (NYSE:HP) by 41.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,761 shares of the oil and gas company’s stock after purchasing an additional 2,867 shares during the period. Vestcor Inc’s holdings in Helmerich & Payne were worth $313,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D lifted its holdings in shares of Helmerich & Payne by 18.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 58,634 shares of the oil and gas company’s stock valued at $1,784,000 after purchasing an additional 9,004 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of 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 worth $13,242,000 after purchasing an additional 64,971 shares during the last quarter. Private Capital Management LLC purchased a new stake in Helmerich & Payne in the 3rd quarter valued at approximately $1,095,000. Fisher Asset Management LLC grew its holdings in Helmerich & Payne by 4.6% during the 4th 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 buying an additional 62,377 shares during the last quarter. Finally, Legato Capital Management LLC increased its position in Helmerich & Payne by 93.9% during the fourth quarter. Legato Capital Management LLC now owns 76,064 shares of the oil and gas company’s stock worth $2,436,000 after buying an additional 36,828 shares in the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.

Helmerich & Payne Stock Down 2.1 %

Shares of NYSE HP opened at $25.31 on Tuesday. The stock has a market capitalization of $2.51 billion, a PE ratio of 8.32, a P/E/G ratio of 3.52 and a beta of 1.42. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60. The firm has a fifty day moving average of $29.72 and a 200-day moving average of $31.99. Helmerich & Payne, Inc. has a 52-week low of $23.80 and a 52-week high of $44.11.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. On average, analysts anticipate that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date is Thursday, May 15th. Helmerich & Payne’s dividend payout ratio (DPR) is presently 32.89%.

Insider Activity at Helmerich & Payne

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

Analysts Set New Price Targets

Several analysts have recently issued reports on HP shares. Argus upgraded Helmerich & Payne to a “hold” rating in a research report on Tuesday, February 11th. Barclays reduced their target price on shares of Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Evercore ISI reiterated an “in-line” rating and set a $39.00 price target (down from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Finally, Citigroup raised shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $33.00 to $40.00 in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Helmerich & Payne currently has a consensus rating of “Hold” and a consensus price target of $37.25.

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.