US Bancorp DE Raises Position in Helmerich & Payne Inc. (HP)
US Bancorp DE raised its position in shares of Helmerich & Payne Inc. (NYSE:HP) by 89.7% during the third quarter, Holdings Channel reports. The fund owned 196,163 shares of the company’s stock after buying an additional 92,756 shares during the period. US Bancorp DE’s holdings in Helmerich & Payne were worth $13,201,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in HP. Mizuho Asset Management Co. Ltd. increased its position in shares of Helmerich & Payne by 74.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,604 shares of the company’s stock worth $108,000 after buying an additional 687 shares during the last quarter. Independent Portfolio Consultants Inc. increased its position in shares of Helmerich & Payne by 7.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,775 shares of the company’s stock worth $119,000 after buying an additional 125 shares during the last quarter. NEXT Financial Group Inc increased its position in shares of Helmerich & Payne by 19.5% in the third quarter. NEXT Financial Group Inc now owns 1,820 shares of the company’s stock worth $122,000 after buying an additional 297 shares during the last quarter. Checchi Capital Advisers LLC increased its position in shares of Helmerich & Payne by 1.8% in the second quarter. Checchi Capital Advisers LLC now owns 1,849 shares of the company’s stock worth $124,000 after buying an additional 33 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. acquired a new position in shares of Helmerich & Payne during the second quarter worth about $146,000.
Shares of Helmerich & Payne Inc. (NYSE:HP) traded down 2.2493% during midday trading on Tuesday, hitting $66.8908. The company had a trading volume of 1,179,911 shares. Helmerich & Payne Inc. has a 12 month low of $40.02 and a 12 month high of $70.39. The company’s market capitalization is $7.24 billion. The company has a 50-day moving average of $66.09 and a 200-day moving average of $63.85.
Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Thursday, November 17th. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.09. The company earned $332 million during the quarter, compared to analysts’ expectations of $304.26 million. Helmerich & Payne had a negative return on equity of 2.25% and a negative net margin of 3.50%. Helmerich & Payne’s quarterly revenue was down 40.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.04 EPS. Analysts predict that Helmerich & Payne Inc. will post ($1.11) earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 11th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.09%. Helmerich & Payne’s payout ratio is currently -518.52%.
A number of research analysts have recently issued reports on the company. DA Davidson assumed coverage on Helmerich & Payne in a report on Thursday, September 15th. They set a “buy” rating and a $72.00 price target on the stock. Citigroup Inc. lowered their target price on Helmerich & Payne from $70.00 to $66.00 and set a “neutral” rating on the stock in a report on Tuesday, August 9th. Argus downgraded Helmerich & Payne from a “buy” rating to a “hold” rating in a report on Thursday, September 15th. Nomura set a $71.00 target price on Helmerich & Payne and gave the company a “buy” rating in a report on Tuesday, August 16th. Finally, Credit Suisse Group AG reissued a “sell” rating and issued a $53.00 target price on shares of Helmerich & Payne in a report on Friday, November 18th. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $62.95.
In other news, CEO John W. Lindsay sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $67.45, for a total value of $1,011,750.00. Following the completion of the sale, the chief executive officer now directly owns 141,512 shares in the company, valued at $9,544,984.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John R. Bell sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $66.35, for a total value of $597,150.00. Following the completion of the sale, the insider now owns 45,666 shares of the company’s stock, valued at $3,029,939.10. The disclosure for this sale can be found here. Company insiders own 4.23% of the company’s stock.
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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