Kentucky Retirement Systems Insurance Trust Fund Invests $121,000 in Helmerich & Payne, Inc. (NYSE:HP)

Kentucky Retirement Systems Insurance Trust Fund bought a new position in Helmerich & Payne, Inc. (NYSE:HP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,794 shares of the oil and gas company’s stock, valued at approximately $121,000.

Other hedge funds have also recently modified their holdings of the company. Kestra Investment Management LLC purchased a new stake in shares of Helmerich & Payne in the fourth quarter worth about $27,000. Covestor Ltd boosted its stake in shares of Helmerich & Payne by 76.9% in the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock worth $45,000 after buying an additional 643 shares during the last quarter. Blue Trust Inc. boosted its stake 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 buying an additional 854 shares during the last quarter. Quarry LP purchased a new stake in shares of Helmerich & Payne in the third quarter worth about $48,000. Finally, Eastern Bank purchased a new stake in shares of Helmerich & Payne in the third quarter worth about $61,000. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Price Performance

Shares of Helmerich & Payne stock opened at $25.76 on Thursday. The business has a 50 day simple moving average of $31.88 and a two-hundred day simple moving average of $33.01. Helmerich & Payne, Inc. has a 12 month low of $25.69 and a 12 month high of $44.11. The stock has a market capitalization of $2.56 billion, a P/E ratio of 8.47, a PEG ratio of 3.43 and a beta of 1.37. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.52.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 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%. As a group, analysts predict that Helmerich & Payne, Inc. will post 2.95 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.88%. Helmerich & Payne’s dividend payout ratio is presently 32.89%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HP. Royal Bank of Canada lowered their price target on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Barclays lowered their price target on Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. Argus upgraded Helmerich & Payne to a “hold” rating in a research report on Tuesday, February 11th. Finally, Evercore ISI reiterated an “in-line” rating and set a $39.00 price target (down previously from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $37.25.

Insider Activity at Helmerich & Payne

In related news, Director Belgacem Chariag purchased 37,356 shares of the business’s 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 completion of the acquisition, the director now owns 54,606 shares in the company, valued at $1,478,730.48. This trade represents a 216.56 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 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 bought at an average cost of $27.55 per share, with a total value of $551,000.00. Following the acquisition, the chief executive officer now owns 691,214 shares of the company’s stock, valued at approximately $19,042,945.70. The trade was a 2.98 % increase in their position. The disclosure for this purchase can be found here. Insiders own 4.51% of the company’s stock.

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.