Park Avenue Securities LLC Makes New Investment in Helmerich & Payne, Inc. (NYSE:HP)

Park Avenue Securities LLC bought a new position in shares of Helmerich & Payne, Inc. (NYSE:HPFree Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,525 shares of the oil and gas company’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. KBC Group NV lifted its holdings in Helmerich & Payne by 20.3% during the third quarter. KBC Group NV now owns 3,130 shares of the oil and gas company’s stock worth $95,000 after acquiring an additional 529 shares during the period. Covestor Ltd raised its stake in shares of Helmerich & Payne by 76.9% during the 3rd quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock worth $45,000 after purchasing an additional 643 shares during the period. Franklin Resources Inc. raised its stake in shares of Helmerich & Payne by 0.4% during the 3rd quarter. Franklin Resources Inc. now owns 157,568 shares of the oil and gas company’s stock worth $4,793,000 after purchasing an additional 666 shares during the period. Fruth Investment Management grew its position in Helmerich & Payne by 6.3% during the third quarter. Fruth Investment Management now owns 13,425 shares of the oil and gas company’s stock valued at $408,000 after buying an additional 800 shares during the period. Finally, Fulton Bank N.A. increased its holdings in Helmerich & Payne by 8.9% during the third quarter. Fulton Bank N.A. now owns 10,141 shares of the oil and gas company’s stock worth $308,000 after buying an additional 825 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Performance

Shares of HP opened at $34.73 on Monday. Helmerich & Payne, Inc. has a 52-week low of $29.46 and a 52-week high of $44.11. The stock’s 50-day simple moving average is $33.73 and its 200 day simple moving average is $34.19. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.40 and a current ratio of 2.67. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 10.09, a price-to-earnings-growth ratio of 4.45 and a beta of 1.39.

Helmerich & Payne (NYSE:HPGet Free Report) last announced its quarterly earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.76. The firm had revenue of $693.79 million for the quarter, compared to the consensus estimate of $695.99 million. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 earnings per share. Research analysts forecast that Helmerich & Payne, Inc. will post 3.06 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders 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 2.88%. Helmerich & Payne’s payout ratio is currently 29.07%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on HP shares. Evercore ISI reissued an “in-line” rating and set a $39.00 target price (down from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Royal Bank of Canada dropped their price objective on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Friday, November 15th. Barclays decreased their target price on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 20th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. Finally, Citigroup raised Helmerich & Payne from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $33.00 to $40.00 in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have 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 a consensus target price of $39.50.

Read Our Latest Stock Report on Helmerich & Payne

About Helmerich & Payne

(Free Report)

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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