Helmerich & Payne, Inc. (NYSE:HP) Position Increased by OLD Republic International Corp
OLD Republic International Corp raised its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 7.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 567,500 shares of the oil and gas company’s stock after buying an additional 37,400 shares during the period. OLD Republic International Corp’s holdings in Helmerich & Payne were worth $30,838,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. purchased a new stake in shares of Helmerich & Payne during the first quarter worth approximately $172,000. Mn Services Vermogensbeheer B.V. raised its stake 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 raised its stake 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. purchased a new stake in shares of Helmerich & Payne during the first quarter worth approximately $209,000. Finally, Murphy Capital Management Inc. raised its stake 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.
Helmerich & Payne, Inc. (NYSE:HP) opened at 46.18 on Friday. The firm has a 50-day moving average price of $52.55 and a 200 day moving average price of $60.88. The firm’s market capitalization is $5.01 billion. Helmerich & Payne, Inc. has a 52 week low of $46.00 and a 52 week high of $85.78.
Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.05. Helmerich & Payne had a negative return on equity of 3.37% and a negative net margin of 11.19%. The business had revenue of $498.60 million during the quarter, compared to analysts’ expectations of $452.42 million. During the same quarter last year, the business posted ($0.20) EPS. The business’s revenue was up 36.0% on a year-over-year basis. 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 disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 6.06%. The ex-dividend date of this dividend is Wednesday, August 16th. Helmerich & Payne’s dividend payout ratio (DPR) is currently -167.66%.
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A number of analysts have recently commented on HP shares. UBS AG reissued a “buy” rating and set a $86.00 price target (down from $91.00) on shares of Helmerich & Payne in a research note on Tuesday, May 2nd. Credit Suisse Group reissued a “buy” rating and set a $19.00 price target on shares of Helmerich & Payne in a research note on Wednesday, May 24th. Vetr raised Helmerich & Payne from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Monday, July 10th. Jefferies Group LLC set a $54.00 price target on Helmerich & Payne and gave the company a “hold” rating in a research note on Tuesday, June 6th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $14.00 price target on shares of Helmerich & Payne in a research note on Monday, May 29th. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. Helmerich & Payne presently has a consensus rating of “Hold” and a consensus price target of $56.77.
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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