PNC Financial Services Group Inc. Raises Stake in Helmerich & Payne, Inc. (NYSE:HP)

PNC Financial Services Group Inc. boosted its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 69.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 32,240 shares of the oil and gas company’s stock after purchasing an additional 13,198 shares during the period. PNC Financial Services Group Inc.’s holdings in Helmerich & Payne were worth $842,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. LPL Financial LLC boosted its holdings in shares of Helmerich & Payne by 1.9% in the fourth quarter. LPL Financial LLC now owns 21,763 shares of the oil and gas company’s stock valued at $697,000 after acquiring an additional 408 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Helmerich & Payne by 3.3% in the fourth quarter. Wells Fargo & Company MN now owns 163,845 shares of the oil and gas company’s stock valued at $5,246,000 after acquiring an additional 5,207 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Helmerich & Payne by 21.1% in the fourth quarter. Russell Investments Group Ltd. now owns 216,867 shares of the oil and gas company’s stock valued at $6,944,000 after acquiring an additional 37,842 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Helmerich & Payne in the fourth quarter valued at about $2,788,000. Finally, Covestor Ltd boosted its holdings in shares of Helmerich & Payne by 61.3% in the fourth quarter. Covestor Ltd now owns 2,386 shares of the oil and gas company’s stock valued at $76,000 after acquiring an additional 907 shares in the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.

Helmerich & Payne Stock Performance

Shares of HP opened at $17.58 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.43 and a debt-to-equity ratio of 0.76. The stock has a market cap of $1.75 billion, a P/E ratio of -53.28 and a beta of 0.87. The company has a 50-day moving average of $16.62 and a two-hundred day moving average of $20.78. Helmerich & Payne, Inc. has a 12-month low of $14.65 and a 12-month high of $37.46.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1 billion. Helmerich & Payne had a negative net margin of 0.90% and a positive return on equity of 5.81%. The firm’s quarterly revenue was up 49.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.92 earnings per share. As a group, research analysts predict that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 5.7%. Helmerich & Payne’s payout ratio is presently -303.03%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on HP shares. Piper Sandler started coverage on shares of Helmerich & Payne in a report on Monday, July 14th. They issued a “neutral” rating and a $20.00 target price on the stock. Citigroup reaffirmed a “neutral” rating and issued a $17.00 target price (down previously from $19.00) on shares of Helmerich & Payne in a report on Thursday, June 26th. Wall Street Zen downgraded shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. reduced their price objective on shares of 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, The Goldman Sachs Group reduced their price objective on shares of Helmerich & Payne from $25.00 to $17.00 and set a “sell” rating for the company in a research note on Tuesday, June 24th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $22.00.

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.