Rockland Trust Co. Raises Stake in Helmerich & Payne, Inc. (NYSE:HP)
Rockland Trust Co. boosted its position in Helmerich & Payne, Inc. (NYSE:HP) by 2.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,855 shares of the oil and gas company’s stock after buying an additional 441 shares during the period. Rockland Trust Co.’s holdings in Helmerich & Payne were worth $916,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. purchased a new stake in Helmerich & Payne during the first quarter worth approximately $172,000. Mn Services Vermogensbeheer B.V. increased its position in shares of 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 during the last quarter. Tompkins Financial Corp increased its position in shares of 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 during the last quarter. Marshall Wace North America L.P. bought a new position in shares of Helmerich & Payne during the first quarter worth about $209,000. Finally, Murphy Capital Management Inc. increased its position in shares of Helmerich & Payne by 2.6% in the second quarter. Murphy Capital Management Inc. now owns 4,000 shares of the oil and gas company’s stock worth $217,000 after buying an additional 100 shares during the last quarter.
Shares of Helmerich & Payne, Inc. (HP) opened at 46.40 on Wednesday. Helmerich & Payne, Inc. has a one year low of $46.38 and a one year high of $85.78. The stock’s market capitalization is $5.04 billion. The firm has a 50-day moving average price of $53.51 and a 200 day moving average price of $62.01.
Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.25) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.05. The business had revenue of $498.60 million during the quarter, compared to the consensus estimate of $452.42 million. Helmerich & Payne had a negative return on equity of 3.37% and a negative net margin of 11.19%. The business’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.20) earnings per share. On average, equities analysts expect that Helmerich & Payne, Inc. will post ($1.32) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 6.03%. The ex-dividend date of this dividend is Wednesday, August 16th. Helmerich & Payne’s dividend payout ratio is currently -167.66%.
A number of brokerages have issued reports on HP. Evercore ISI reissued an “in-line” rating and issued a $48.00 price target (down from $65.00) on shares of Helmerich & Payne in a report on Tuesday, August 1st. Iberia Capital downgraded Helmerich & Payne from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $74.00 to $55.00 in a report on Monday, July 31st. UBS AG reissued a “buy” rating and issued a $60.00 price target (down from $84.00) on shares of Helmerich & Payne in a report on Monday, July 31st. BidaskClub downgraded Helmerich & Payne from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Finally, Citigroup Inc. downgraded Helmerich & Payne from a “neutral” rating to a “sell” rating and decreased their price target for the company from $58.00 to $43.00 in a report on Friday, July 28th. Seven equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $57.10.
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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