Helmerich & Payne, Inc. (HP) Holdings Increased by Pinnacle Associates Ltd.
Pinnacle Associates Ltd. raised its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 163.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 505,777 shares of the oil and gas company’s stock after buying an additional 313,569 shares during the quarter. Pinnacle Associates Ltd. owned approximately 0.46% of Helmerich & Payne worth $32,248,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Summit Trail Advisors LLC grew its holdings in Helmerich & Payne by 8,098.5% in the 1st quarter. Summit Trail Advisors LLC now owns 109,368 shares of the oil and gas company’s stock valued at $109,000 after buying an additional 108,034 shares during the period. AdvisorNet Financial Inc purchased a new stake in shares of Helmerich & Payne during the 1st quarter worth about $157,000. Viking Fund Management LLC purchased a new stake in shares of Helmerich & Payne during the 2nd quarter worth about $159,000. Rampart Investment Management Company LLC grew its holdings in shares of Helmerich & Payne by 84.3% during the 1st 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 purchased a new stake in shares of Helmerich & Payne during the 1st quarter worth about $186,000. Institutional investors own 96.25% of the company’s stock.
HP has been the subject of a number of research reports. Stephens upgraded Helmerich & Payne from an “equal weight” rating to an “overweight” rating and set a $67.00 target price for the company in a report on Monday, July 30th. Jefferies Financial Group upgraded Helmerich & Payne from a “hold” rating to a “buy” rating in a report on Wednesday, June 27th. TheStreet cut Helmerich & Payne from a “b-” rating to a “c” rating in a report on Thursday, April 26th. JPMorgan Chase & Co. boosted their target price on Helmerich & Payne from $47.00 to $49.00 and gave the stock an “underweight” rating in a report on Friday, July 27th. Finally, B. Riley boosted their target price on Helmerich & Payne from $60.00 to $68.00 and gave the stock a “hold” rating in a report on Monday, April 30th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $64.71.
Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, July 25th. The oil and gas company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.04). The company had revenue of $648.87 million for the quarter, compared to analyst estimates of $617.06 million. Helmerich & Payne had a negative return on equity of 0.37% and a net margin of 19.70%. The business’s revenue was up 30.1% on a year-over-year basis. During the same period last year, the firm posted ($0.25) earnings per share. sell-side analysts expect that Helmerich & Payne, Inc. will post 0.02 EPS 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 given a dividend of $0.71 per share. The ex-dividend date is Thursday, August 16th. This is a positive change from Helmerich & Payne’s previous quarterly dividend of $0.70. This represents a $2.84 annualized dividend and a yield of 4.54%. Helmerich & Payne’s payout ratio is -220.47%.
Helmerich & Payne Profile
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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