Helmerich & Payne, Inc. (NYSE:HP) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its stake in Helmerich & Payne, Inc. (NYSE:HP) by 16.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 863,149 shares of the oil and gas company’s stock after acquiring an additional 124,103 shares during the quarter. New York State Common Retirement Fund’s holdings in Helmerich & Payne were worth $27,638,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in HP. Creative Planning boosted its stake in Helmerich & Payne by 13.3% during the 3rd quarter. Creative Planning now owns 23,656 shares of the oil and gas company’s stock worth $720,000 after purchasing an additional 2,774 shares during the last quarter. Blue Trust Inc. raised its holdings in Helmerich & Payne by 127.8% in the 3rd quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock valued at $46,000 after buying an additional 854 shares during the period. Raymond James & Associates raised its holdings in Helmerich & Payne by 33.6% in the 3rd quarter. Raymond James & Associates now owns 93,310 shares of the oil and gas company’s stock valued at $2,838,000 after buying an additional 23,459 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Helmerich & Payne by 5.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 340,943 shares of the oil and gas company’s stock valued at $10,371,000 after buying an additional 18,147 shares during the period. Finally, Eastern Bank purchased a new stake in Helmerich & Payne in the 3rd quarter valued at about $61,000. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Stock Down 3.2 %

HP stock opened at $26.23 on Friday. The company’s 50 day moving average price is $31.60 and its 200 day moving average price is $32.92. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81. Helmerich & Payne, Inc. has a fifty-two week low of $25.69 and a fifty-two week high of $44.11. The firm has a market capitalization of $2.61 billion, a price-to-earnings ratio of 8.63, a PEG ratio of 3.32 and a beta of 1.37.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share 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, equities research analysts anticipate that Helmerich & Payne, Inc. will post 2.95 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The firm 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. This represents a $1.00 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Friday, February 14th. Helmerich & Payne’s dividend payout ratio (DPR) is 32.89%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HP. Barclays reduced their price objective 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. Argus upgraded shares of Helmerich & Payne to a “hold” rating in a research note on Tuesday, February 11th. Citigroup upgraded shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $33.00 to $40.00 in a research note on Friday, January 10th. 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 research note on Wednesday, January 15th. Finally, Royal Bank of Canada cut their price target on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $37.25.

Insider Activity at Helmerich & Payne

In other Helmerich & Payne news, Director Belgacem Chariag purchased 37,356 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average cost of $27.08 per share, with a total value of $1,011,600.48. Following the completion of the acquisition, the director now directly owns 54,606 shares of the company’s stock, valued at $1,478,730.48. This trade represents a 216.56 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John W. Lindsay purchased 20,000 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average cost of $27.55 per share, with a total value of $551,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 691,214 shares of the company’s stock, 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. 4.51% of the stock is currently owned by corporate insiders.

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.