State of New Jersey Common Pension Fund D raised its stake in Helmerich & Payne, Inc. (NYSE:HP – Get Rating) by 40.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 86,765 shares of the oil and gas company’s stock after purchasing an additional 24,939 shares during the period. State of New Jersey Common Pension Fund D owned 0.08% of Helmerich & Payne worth $3,208,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Private Trust Co. NA increased its position in shares of Helmerich & Payne by 164.1% in the 3rd quarter. Private Trust Co. NA now owns 663 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 412 shares during the last quarter. Quent Capital LLC grew its position in shares of Helmerich & Payne by 248.0% during the 2nd quarter. Quent Capital LLC now owns 682 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 486 shares during the last quarter. Sugarloaf Wealth Management LLC bought a new stake in shares of Helmerich & Payne during the 2nd quarter valued at about $30,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Helmerich & Payne by 60.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,034 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 390 shares during the last quarter. Finally, Chilton Capital Management LLC bought a new stake in shares of Helmerich & Payne during the 2nd quarter valued at about $47,000. Institutional investors own 92.42% of the company’s stock.
Insider Activity at Helmerich & Payne
In related news, SVP John R. Bell sold 4,314 shares of the stock in a transaction that occurred on Wednesday, October 26th. The shares were sold at an average price of $50.00, for a total transaction of $215,700.00. Following the completion of the sale, the senior vice president now directly owns 117,395 shares of the company’s stock, valued at $5,869,750. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 4.35% of the company’s stock.
Helmerich & Payne Trading Up 1.1 %
Helmerich & Payne (NYSE:HP – Get Rating) last released its earnings results on Wednesday, November 16th. The oil and gas company reported $0.45 EPS for the quarter, meeting the consensus estimate of $0.45. Helmerich & Payne had a net margin of 0.34% and a return on equity of 0.45%. The business had revenue of $631.33 million during the quarter, compared to analyst estimates of $597.29 million. During the same period in the prior year, the business earned ($0.62) earnings per share. The business’s quarterly revenue was up 83.6% on a year-over-year basis. As a group, analysts anticipate that Helmerich & Payne, Inc. will post 4.47 earnings per share for the current fiscal year.
Helmerich & Payne Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 28th. Investors of record on Tuesday, February 14th will be paid a dividend of $0.485 per share. The ex-dividend date of this dividend is Monday, February 13th. This is a positive change from Helmerich & Payne’s previous quarterly dividend of $0.25. This represents a $1.94 annualized dividend and a yield of 3.83%. Helmerich & Payne’s dividend payout ratio is currently 2,000.40%.
Wall Street Analysts Forecast Growth
HP has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Helmerich & Payne to $65.00 in a research report on Monday, November 21st. StockNews.com initiated coverage on shares of Helmerich & Payne in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Bank of America upgraded shares of Helmerich & Payne from a “neutral” rating to a “buy” rating in a research report on Monday, January 9th. Morgan Stanley upped their target price on shares of Helmerich & Payne from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Monday, November 21st. Finally, Susquehanna Bancshares upped their target price on shares of Helmerich & Payne from $62.00 to $65.00 and gave the stock a “positive” rating in a research report on Friday, November 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Helmerich & Payne has an average rating of “Moderate Buy” and a consensus price target of $60.55.
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.
- Get a free copy of the StockNews.com research report on Helmerich & Payne (HP)
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