State of Alaska Department of Revenue Raises Holdings in Helmerich & Payne, Inc. $HP

State of Alaska Department of Revenue grew its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 7.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 59,223 shares of the oil and gas company’s stock after acquiring an additional 4,158 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Helmerich & Payne worth $897,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. increased its holdings in shares of Helmerich & Payne by 3.3% in the 1st quarter. Principal Financial Group Inc. now owns 494,813 shares of the oil and gas company’s stock valued at $12,925,000 after acquiring an additional 15,990 shares during the last quarter. Grace & White Inc. NY increased its holdings in shares of Helmerich & Payne by 40.8% in the 1st quarter. Grace & White Inc. NY now owns 113,342 shares of the oil and gas company’s stock valued at $2,960,000 after acquiring an additional 32,856 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Helmerich & Payne by 26.2% in the 1st 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 acquiring an additional 97,388 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Helmerich & Payne by 85.4% in the 1st quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company’s stock valued at $83,000 after acquiring an additional 1,459 shares during the last quarter. Finally, Hara Capital LLC increased its holdings in shares of Helmerich & Payne by 51.1% in the 1st quarter. Hara Capital LLC now owns 90,440 shares of the oil and gas company’s stock valued at $2,362,000 after acquiring an additional 30,576 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Up 2.8%

Helmerich & Payne stock opened at $23.69 on Tuesday. Helmerich & Payne, Inc. has a twelve month low of $14.65 and a twelve month high of $37.46. The stock has a 50 day moving average of $19.64 and a two-hundred day moving average of $18.85. 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 capitalization of $2.36 billion, a price-to-earnings ratio of -71.79 and a beta of 0.91.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data 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. Helmerich & Payne had a positive return on equity of 5.81% and a negative net margin of 0.90%.The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same period last year, the firm earned $0.92 EPS. The firm’s revenue for the quarter was up 49.2% on a year-over-year basis. As a group, research analysts expect that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Tuesday, November 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Tuesday, November 18th. Helmerich & Payne’s dividend payout ratio (DPR) is presently -303.03%.

Insiders Place Their Bets

In other Helmerich & Payne news, CAO Sara Marie Momper sold 6,700 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $17.83, for a total transaction of $119,461.00. Following the completion of the sale, the chief accounting officer directly owned 21,908 shares of the company’s stock, valued at approximately $390,619.64. This trade represents a 23.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.51% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Helmerich & Payne in a report on Saturday, September 27th. Piper Sandler increased their price objective on Helmerich & Payne from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, August 14th. TD Cowen raised their price target on Helmerich & Payne from $26.00 to $27.00 and gave the stock a “hold” rating in a research note on Tuesday, August 19th. Citigroup restated a “neutral” rating and set a $17.00 price target (down previously from $19.00) on shares of Helmerich & Payne in a research note on Thursday, June 26th. Finally, Barclays set a $25.00 price target on Helmerich & Payne and gave the stock an “overweight” rating in a research note on Monday, September 22nd. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $23.30.

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.