State of Alaska Department of Revenue held its stake in Helmerich & Payne, Inc. (NYSE:HP) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,430 shares of the oil and gas company’s stock at the end of the second quarter. State of Alaska Department of Revenue’s holdings in Helmerich & Payne were worth $512,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Ibex Wealth Advisors acquired a new stake in shares of Helmerich & Payne during the fourth quarter worth approximately $148,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Helmerich & Payne during the first quarter worth approximately $172,000. Mn Services Vermogensbeheer B.V. increased its position in Helmerich & Payne by 4.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,885 shares of the oil and gas company’s stock worth $180,000 after buying an additional 116 shares in the last quarter. Tompkins Financial Corp increased its position in Helmerich & Payne by 244.4% in the first quarter. Tompkins Financial Corp now owns 3,375 shares of the oil and gas company’s stock worth $198,000 after buying an additional 2,395 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in Helmerich & Payne during the first quarter worth about $209,000.
Helmerich & Payne, Inc. (NYSE HP) opened at 46.48 on Thursday. The firm has a 50-day moving average price of $52.88 and a 200-day moving average price of $61.20. Helmerich & Payne, Inc. has a 12-month low of $46.06 and a 12-month high of $85.78. The company’s market cap is $5.05 billion.
Helmerich & Payne (NYSE:HP) last issued its earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.05. The firm had revenue of $498.60 million during the quarter, compared to analysts’ expectations of $452.42 million. Helmerich & Payne had a negative net margin of 11.19% and a negative return on equity of 3.37%. The firm’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.20) earnings per share. On average, equities research analysts forecast that Helmerich & Payne, Inc. will post ($1.32) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 6.02%. The ex-dividend date is Wednesday, August 16th. Helmerich & Payne’s payout ratio is -167.66%.
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A number of brokerages recently weighed in on HP. BMO Capital Markets set a $54.00 price objective on Helmerich & Payne and gave the company a “sell” rating in a research note on Wednesday, April 12th. Jefferies Group LLC set a $55.00 price target on Helmerich & Payne and gave the company a “sell” rating in a research report on Monday, April 24th. Goldman Sachs Group, Inc. (The) cut Helmerich & Payne from a “neutral” rating to a “sell” rating and decreased their price target for the company from $63.00 to $45.00 in a research report on Monday, May 22nd. Iberia Capital upgraded Helmerich & Payne from a “sector perform” rating to an “outperform” rating and set a $74.00 price target on the stock in a research report on Thursday, May 4th. Finally, UBS AG reiterated a “buy” rating and set a $86.00 price target (down from $91.00) on shares of Helmerich & Payne in a research report on Tuesday, May 2nd. Seven equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $57.10.
About Helmerich & Payne
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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