Teacher Retirement System of Texas Raises Stake in Helmerich & Payne, Inc. (NYSE:HP)

Teacher Retirement System of Texas grew its stake in Helmerich & Payne, Inc. (NYSE:HP) by 39.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,437 shares of the oil and gas company’s stock after purchasing an additional 4,075 shares during the period. Teacher Retirement System of Texas’ holdings in Helmerich & Payne were worth $377,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Summit Investment Advisors Inc. raised its stake in Helmerich & Payne by 4.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,113 shares of the oil and gas company’s stock valued at $324,000 after purchasing an additional 395 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Helmerich & Payne by 1.9% during the 4th quarter. LPL Financial LLC now owns 21,763 shares of the oil and gas company’s stock worth $697,000 after buying an additional 408 shares during the last quarter. Napatree Capital LLC increased its holdings in shares of Helmerich & Payne by 2.5% during the 4th quarter. Napatree Capital LLC now owns 20,847 shares of the oil and gas company’s stock worth $668,000 after buying an additional 511 shares during the last quarter. Ellis Investment Partners LLC increased its holdings in shares of Helmerich & Payne by 4.5% during the 1st quarter. Ellis Investment Partners LLC now owns 12,999 shares of the oil and gas company’s stock worth $340,000 after buying an additional 558 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Helmerich & Payne by 104.2% during the 1st quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 867 shares during the period. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HP. The Goldman Sachs Group lowered their target price on Helmerich & Payne from $25.00 to $17.00 and set a “sell” rating for the company in a report on Tuesday, June 24th. TD Cowen decreased their price objective on Helmerich & Payne from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Friday, May 9th. Piper Sandler started coverage on Helmerich & Payne in a research note on Monday. They issued a “neutral” rating and a $20.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on Helmerich & Payne from $25.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, May 28th. Finally, Barclays cut their target price on Helmerich & Payne from $20.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Friday, June 20th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $23.10.

Helmerich & Payne Stock Performance

Shares of NYSE:HP opened at $16.00 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.68 and a quick ratio of 1.32. Helmerich & Payne, Inc. has a 12 month low of $14.65 and a 12 month high of $42.60. The firm has a market capitalization of $1.59 billion, a PE ratio of 7.30 and a beta of 0.82. The business has a 50-day moving average of $16.72 and a two-hundred day moving average of $23.10.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.63). The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $961.03 million. Helmerich & Payne had a return on equity of 8.25% and a net margin of 7.15%. The company’s quarterly revenue was up 47.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.84 EPS. As a group, research analysts forecast that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 6.25%. The ex-dividend date of this dividend is Friday, August 15th. Helmerich & Payne’s dividend payout ratio is currently 45.66%.

About Helmerich & Payne

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.