First Trust Advisors LP Has $17.68 Million Position in Helmerich & Payne, Inc. (HP)
First Trust Advisors LP lifted its position in Helmerich & Payne, Inc. (NYSE:HP) by 169.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 277,250 shares of the oil and gas company’s stock after acquiring an additional 174,246 shares during the period. First Trust Advisors LP’s holdings in Helmerich & Payne were worth $17,677,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Summit Trail Advisors LLC boosted its position in Helmerich & Payne by 8,098.5% during the first quarter. Summit Trail Advisors LLC now owns 109,368 shares of the oil and gas company’s stock worth $109,000 after purchasing an additional 108,034 shares during the period. AdvisorNet Financial Inc bought a new position in Helmerich & Payne during the first quarter worth $157,000. Viking Fund Management LLC bought a new position in Helmerich & Payne during the second quarter worth $159,000. Rampart Investment Management Company LLC boosted its position in Helmerich & Payne by 84.3% during the first quarter. Rampart Investment Management Company LLC now owns 2,453 shares of the oil and gas company’s stock worth $163,000 after purchasing an additional 1,122 shares during the period. Finally, Lee Financial Co bought a new position in Helmerich & Payne during the first quarter worth $186,000. 96.25% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on HP. B. Riley boosted their target price on shares of Helmerich & Payne from $60.00 to $68.00 and gave the company a “hold” rating in a research report on Monday, April 30th. Susquehanna Bancshares set a $84.00 target price on shares of Helmerich & Payne and gave the company a “buy” rating in a research report on Friday, April 27th. ValuEngine cut shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. Credit Suisse Group boosted their target price on shares of Helmerich & Payne from $51.00 to $63.00 and gave the company a “market perform” rating in a research report on Friday, April 27th. Finally, TheStreet cut shares of Helmerich & Payne from a “b-” rating to a “c” rating in a research report on Thursday, April 26th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. Helmerich & Payne presently has an average rating of “Hold” and an average target price of $64.71.
Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, July 25th. The oil and gas company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.04). The company had revenue of $648.87 million during the quarter, compared to analyst estimates of $617.06 million. Helmerich & Payne had a net margin of 19.70% and a negative return on equity of 0.37%. The firm’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.25) EPS. analysts anticipate that Helmerich & Payne, Inc. will post 0.02 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 31st. Investors of record on Friday, August 17th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date of this dividend is Thursday, August 16th. This is an increase from Helmerich & Payne’s previous quarterly dividend of $0.70. Helmerich & Payne’s payout ratio is -220.47%.
About Helmerich & Payne
Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.
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