Vanguard Group Inc. Acquires 3,044 Shares of Helmerich & Payne, Inc. $HP

Vanguard Group Inc. boosted its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 0.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,959,013 shares of the oil and gas company’s stock after acquiring an additional 3,044 shares during the period. Vanguard Group Inc. owned approximately 11.03% of Helmerich & Payne worth $286,249,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Barclays cut their price target on Helmerich & Payne from $20.00 to $17.00 and set an “equal weight” rating on the stock in a report on Friday, June 20th. Morgan Stanley cut their price target on Helmerich & Payne from $27.00 to $20.00 and set an “underweight” rating on the stock in a report on Friday, May 16th. The Goldman Sachs Group lowered their target price on Helmerich & Payne from $25.00 to $17.00 and set a “sell” rating on the stock in a research report on Tuesday, June 24th. Zacks Research raised Helmerich & Payne to a “hold” rating in a research report on Monday, August 11th. Finally, JPMorgan Chase & Co. lowered their target price on Helmerich & Payne from $25.00 to $17.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 28th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Helmerich & Payne has an average rating of “Hold” and a consensus target price of $22.10.

Helmerich & Payne Price Performance

Shares of NYSE HP opened at $17.67 on Monday. The business’s 50 day moving average price is $16.72 and its two-hundred day moving average price is $20.36. 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. Helmerich & Payne, Inc. has a twelve month low of $14.65 and a twelve month high of $37.46.

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

Helmerich & Payne Dividend Announcement

The firm also recently declared 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 5.7%. The ex-dividend date of this dividend is Friday, August 15th. Helmerich & Payne’s payout ratio is -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.