State of Alaska Department of Revenue Increases Stake in Helmerich & Payne, Inc. (NYSE:HP)

State of Alaska Department of Revenue grew its position in Helmerich & Payne, Inc. (NYSE:HPGet Rating) by 8.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,553 shares of the oil and gas company’s stock after acquiring an additional 5,955 shares during the quarter. State of Alaska Department of Revenue owned about 0.08% of Helmerich & Payne worth $3,425,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. AdvisorNet Financial Inc increased its stake in Helmerich & Payne by 90.2% in the 1st quarter. AdvisorNet Financial Inc now owns 677 shares of the oil and gas company’s stock worth $29,000 after buying an additional 321 shares during the period. Harding Loevner LP increased its stake in Helmerich & Payne by 316.7% in the 1st quarter. Harding Loevner LP now owns 946 shares of the oil and gas company’s stock worth $42,000 after buying an additional 719 shares during the period. Lindbrook Capital LLC increased its stake in Helmerich & Payne by 29.2% in the 1st quarter. Lindbrook Capital LLC now owns 1,044 shares of the oil and gas company’s stock worth $45,000 after buying an additional 236 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Helmerich & Payne in the 1st quarter worth about $69,000. Finally, Quadrant Capital Group LLC increased its stake in Helmerich & Payne by 23.3% in the 1st quarter. Quadrant Capital Group LLC now owns 2,183 shares of the oil and gas company’s stock worth $94,000 after buying an additional 412 shares during the period. Hedge funds and other institutional investors own 94.61% of the company’s stock.

Helmerich & Payne Stock Down 2.3 %

NYSE:HP opened at $40.85 on Thursday. Helmerich & Payne, Inc. has a fifty-two week low of $20.93 and a fifty-two week high of $54.59. The stock has a market capitalization of $4.30 billion, a P/E ratio of -36.80 and a beta of 1.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.14 and a current ratio of 2.36. The company’s 50-day simple moving average is $42.96 and its 200-day simple moving average is $44.25.

Helmerich & Payne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Monday, November 14th. Helmerich & Payne’s dividend payout ratio is currently -90.09%.

Insider Buying and Selling

In other news, SVP Raymond John Adams III sold 1,500 shares of the business’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $47.50, for a total transaction of $71,250.00. Following the sale, the senior vice president now directly owns 52,935 shares of the company’s stock, valued at $2,514,412.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.35% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on HP. Morgan Stanley raised their price target on shares of Helmerich & Payne from $45.00 to $48.00 and gave the stock an “underweight” rating in a research note on Monday, August 1st. Citigroup increased their target price on shares of Helmerich & Payne from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, July 6th. Susquehanna Bancshares increased their target price on shares of Helmerich & Payne from $55.00 to $62.00 and gave the stock a “positive” rating in a report on Wednesday, June 8th. Barclays increased their target price on shares of Helmerich & Payne to $58.00 in a report on Tuesday, August 9th. Finally, Susquehanna increased their target price on shares of Helmerich & Payne from $55.00 to $62.00 in a report on Wednesday, June 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Helmerich & Payne has a consensus rating of “Hold” and an average price target of $51.22.

About Helmerich & Payne

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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.

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Institutional Ownership by Quarter for Helmerich & Payne (NYSE:HP)

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