Cetera Investment Advisers Buys 3,814 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Cetera Investment Advisers boosted its position in Helmerich & Payne, Inc. (NYSE:HP) by 20.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,928 shares of the oil and gas company’s stock after purchasing an additional 3,814 shares during the period. Cetera Investment Advisers’ holdings in Helmerich & Payne were worth $599,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in HP. Raymond James Financial Inc. bought a new stake in Helmerich & Payne during the fourth quarter worth $2,788,000. Principal Financial Group Inc. lifted its holdings in Helmerich & Payne by 3.3% during the first quarter. Principal Financial Group Inc. now owns 494,813 shares of the oil and gas company’s stock worth $12,925,000 after acquiring an additional 15,990 shares during the period. Grace & White Inc. NY lifted its holdings in Helmerich & Payne by 40.8% during the first quarter. Grace & White Inc. NY now owns 113,342 shares of the oil and gas company’s stock worth $2,960,000 after acquiring an additional 32,856 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Helmerich & Payne by 26.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 468,757 shares of the oil and gas company’s stock worth $12,422,000 after acquiring an additional 97,388 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Helmerich & Payne by 85.4% during the first quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company’s stock worth $83,000 after acquiring an additional 1,459 shares during the period. Institutional investors and hedge funds own 96.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HP. Susquehanna dropped their price target on Helmerich & Payne from $24.00 to $23.00 and set a “positive” rating on the stock in a report on Tuesday, July 1st. Royal Bank Of Canada lifted their price target on Helmerich & Payne from $23.00 to $24.00 and gave the stock a “sector perform” rating in a report on Friday, August 8th. Barclays lowered their target price on Helmerich & Payne from $20.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Friday, June 20th. Piper Sandler restated a “neutral” rating and issued a $21.00 target price (up from $20.00) on shares of Helmerich & Payne in a research note on Thursday. Finally, Wall Street Zen lowered Helmerich & Payne from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Helmerich & Payne has an average rating of “Hold” and an average price target of $22.10.

Helmerich & Payne Stock Down 3.7%

HP opened at $17.67 on Friday. Helmerich & Payne, Inc. has a twelve month low of $14.65 and a twelve month high of $37.46. The company has a market cap of $1.76 billion, a PE ratio of -53.55 and a beta of 0.87. The company has a quick ratio of 1.43, a current ratio of 1.84 and a debt-to-equity ratio of 0.76. The company has a 50-day moving average price of $16.72 and a 200 day moving average price of $20.52.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. Helmerich & Payne had a negative net margin of 0.90% and a positive return on equity of 5.81%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the firm posted $0.92 EPS. Helmerich & Payne’s revenue for the quarter was up 49.2% on a year-over-year basis. Sell-side analysts expect that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 5.7%. The ex-dividend date is Friday, August 15th. Helmerich & Payne’s payout ratio is currently -303.03%.

Helmerich & Payne 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.