Arizona State Retirement System Has $1.01 Million Holdings in Helmerich & Payne, Inc. (NYSE:HP)

Arizona State Retirement System cut its position in Helmerich & Payne, Inc. (NYSE:HP) by 4.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,794 shares of the oil and gas company’s stock after selling 1,416 shares during the quarter. Arizona State Retirement System’s holdings in Helmerich & Payne were worth $1,007,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Pinnacle Associates Ltd. boosted its position in Helmerich & Payne by 0.9% during the fourth quarter. Pinnacle Associates Ltd. now owns 233,520 shares of the oil and gas company’s stock worth $8,458,000 after purchasing an additional 2,078 shares during the period. AlphaMark Advisors LLC boosted its position in Helmerich & Payne by 5.8% during the fourth quarter. AlphaMark Advisors LLC now owns 6,339 shares of the oil and gas company’s stock worth $230,000 after purchasing an additional 346 shares during the period. Pacer Advisors Inc. boosted its position in Helmerich & Payne by 130.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,720,464 shares of the oil and gas company’s stock worth $98,535,000 after purchasing an additional 1,541,987 shares during the period. Raymond James & Associates boosted its position in Helmerich & Payne by 32.8% during the fourth quarter. Raymond James & Associates now owns 68,980 shares of the oil and gas company’s stock worth $2,498,000 after purchasing an additional 17,034 shares during the period. Finally, Profit Investment Management LLC bought a new position in Helmerich & Payne during the fourth quarter worth $1,908,000. 96.05% of the stock is owned by institutional investors.

Helmerich & Payne Stock Down 0.4 %

HP stock opened at $41.62 on Tuesday. The stock has a market capitalization of $4.11 billion, a P/E ratio of 9.93, a price-to-earnings-growth ratio of 8.76 and a beta of 1.51. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.20. Helmerich & Payne, Inc. has a 12 month low of $30.41 and a 12 month high of $46.55. The firm has a 50-day moving average price of $40.18 and a 200-day moving average price of $38.61.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Tuesday, January 30th. The oil and gas company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.24. The firm had revenue of $677.00 million during the quarter, compared to analysts’ expectations of $661.81 million. Helmerich & Payne had a net margin of 15.27% and a return on equity of 15.06%. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.11 earnings per share. As a group, equities research analysts anticipate that Helmerich & Payne, Inc. will post 3.59 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.04%. Helmerich & Payne’s dividend payout ratio (DPR) is currently 23.87%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays downgraded Helmerich & Payne from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $44.00 to $40.00 in a report on Wednesday, January 10th. Susquehanna lifted their target price on Helmerich & Payne from $50.00 to $52.00 and gave the stock a “positive” rating in a report on Monday, April 8th. Piper Sandler lifted their target price on Helmerich & Payne from $41.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday, February 20th. Benchmark downgraded Helmerich & Payne from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Finally, Royal Bank of Canada boosted their price target on Helmerich & Payne from $46.00 to $48.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 31st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $42.88.

Helmerich & Payne Company 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.