Bank of Montreal Can lowered its position in Helmerich & Payne, Inc. (NYSE:HP) by 3.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 339,149 shares of the oil and gas company’s stock after selling 13,348 shares during the period. Bank of Montreal Can owned approximately 0.31% of Helmerich & Payne worth $22,577,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the company. Investec Asset Management LTD boosted its stake in shares of Helmerich & Payne by 95.6% in the fourth quarter. Investec Asset Management LTD now owns 1,740,007 shares of the oil and gas company’s stock worth $134,677,000 after buying an additional 850,576 shares during the last quarter. Iberiabank Corp acquired a new stake in Helmerich & Payne during the fourth quarter valued at $1,389,000. BlackRock Group LTD boosted its stake in Helmerich & Payne by 1.8% in the third quarter. BlackRock Group LTD now owns 1,134,346 shares of the oil and gas company’s stock valued at $76,343,000 after buying an additional 20,063 shares in the last quarter. Monarch Partners Asset Management LLC acquired a new stake in Helmerich & Payne during the third quarter valued at $9,518,000. Finally, HAP Trading LLC boosted its stake in Helmerich & Payne by 50.3% in the third quarter. HAP Trading LLC now owns 23,882 shares of the oil and gas company’s stock valued at $1,607,000 after buying an additional 7,989 shares in the last quarter.
Helmerich & Payne, Inc. (NYSE:HP) opened at 64.83 on Friday. Helmerich & Payne, Inc. has a 1-year low of $56.19 and a 1-year high of $85.78. The firm’s market capitalization is $7.04 billion. The firm’s 50-day moving average price is $67.21 and its 200 day moving average price is $70.74.
Helmerich & Payne (NYSE:HP) last issued its earnings results on Thursday, January 26th. The oil and gas company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by $0.05. Helmerich & Payne had a negative return on equity of 3.34% and a negative net margin of 7.17%. The firm earned $369 million during the quarter, compared to analyst estimates of $332.26 million. During the same period in the previous year, the company earned $0.15 EPS. Helmerich & Payne’s revenue for the quarter was down 24.4% on a year-over-year basis. On average, analysts predict that Helmerich & Payne, Inc. will post ($1.27) EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Friday, May 19th will be issued a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, May 17th. This represents a $2.80 dividend on an annualized basis and a yield of 4.32%. Helmerich & Payne’s payout ratio is presently -274.51%.
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Several research firms have recently weighed in on HP. Sanford C. Bernstein raised Helmerich & Payne from a “market perform” rating to an “outperform” rating and set a $84.00 price objective for the company in a research report on Friday, March 3rd. They noted that the move was a valuation call. Tudor Pickering began coverage on Helmerich & Payne in a research report on Thursday, March 23rd. They issued a “hold” rating for the company. BMO Capital Markets set a $54.00 price objective on Helmerich & Payne and gave the company a “sell” rating in a research report on Wednesday, April 12th. Guggenheim raised Helmerich & Payne from a “neutral” rating to a “buy” rating in a research report on Monday, April 3rd. Finally, Zacks Investment Research cut Helmerich & Payne from a “buy” rating to a “hold” rating in a research report on Monday, April 10th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $69.38.
In other news, Director Thomas A. Petrie bought 1,990 shares of the stock in a transaction on Friday, March 10th. The stock was acquired at an average price of $67.17 per share, with a total value of $133,668.30. Following the acquisition, the director now directly owns 8,583 shares in the company, valued at $576,520.11. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.23% of the stock is owned by corporate insiders.
Helmerich & Payne Company Profile
Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.
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