Park Avenue Securities LLC Increases Stock Position in Helmerich & Payne, Inc. (NYSE:HP)

Park Avenue Securities LLC grew its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 21.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,925 shares of the oil and gas company’s stock after acquiring an additional 1,400 shares during the quarter. Park Avenue Securities LLC’s holdings in Helmerich & Payne were worth $207,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in HP. Balyasny Asset Management L.P. bought a new stake in shares of Helmerich & Payne during the fourth quarter valued at approximately $28,708,000. Norges Bank bought a new stake in shares of Helmerich & Payne during the fourth quarter valued at approximately $21,572,000. Bank of America Corp DE raised its position in shares of Helmerich & Payne by 542.9% during the fourth quarter. Bank of America Corp DE now owns 523,047 shares of the oil and gas company’s stock valued at $16,748,000 after buying an additional 441,688 shares during the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of Helmerich & Payne during the fourth quarter valued at approximately $10,931,000. Finally, American Century Companies Inc. raised its position in shares of Helmerich & Payne by 14.0% during the fourth quarter. American Century Companies Inc. now owns 2,658,356 shares of the oil and gas company’s stock valued at $85,121,000 after buying an additional 327,374 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Trading Down 1.4%

HP stock opened at $18.04 on Tuesday. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60. Helmerich & Payne, Inc. has a twelve month low of $14.65 and a twelve month high of $42.60. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 5.93, a price-to-earnings-growth ratio of 3.52 and a beta of 0.83. The firm’s fifty day simple moving average is $18.27 and its two-hundred day simple moving average is $25.57.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.63). Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $961.03 million. During the same quarter last year, the firm earned $0.84 EPS. The company’s revenue was up 47.7% on a year-over-year basis. As a group, analysts anticipate that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date of this dividend is Friday, August 15th. Helmerich & Payne’s dividend payout ratio (DPR) is 45.66%.

Wall Street Analyst Weigh In

HP has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their price objective on shares of Helmerich & Payne from $32.00 to $25.00 and set a “sell” rating on the stock in a research report on Thursday, April 10th. Susquehanna reduced their price target on shares of Helmerich & Payne from $43.00 to $28.00 and set a “positive” rating on the stock in a research report on Monday, April 14th. Barclays reduced their price target on shares of Helmerich & Payne from $24.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 14th. Morgan Stanley reduced their price target on shares of Helmerich & Payne from $27.00 to $20.00 and set an “underweight” rating on the stock in a research report on Friday, May 16th. Finally, Citigroup restated a “neutral” rating and issued a $19.00 price target (down previously from $25.00) on shares of Helmerich & Payne in a research report on Monday, May 19th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Helmerich & Payne presently has a consensus rating of “Hold” and an average price target of $27.73.

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.