Helmerich & Payne, Inc. (HP) Position Boosted by Victory Capital Management Inc.
Victory Capital Management Inc. increased its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 13.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 603,898 shares of the oil and gas company’s stock after buying an additional 71,508 shares during the period. Victory Capital Management Inc. owned 0.56% of Helmerich & Payne worth $32,816,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Helmerich & Payne by 3,318.2% in the first quarter. BlackRock Inc. now owns 10,967,068 shares of the oil and gas company’s stock worth $730,077,000 after buying an additional 10,646,223 shares in the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of Helmerich & Payne during the first quarter worth $153,996,000. American Century Companies Inc. boosted its stake in shares of Helmerich & Payne by 380.2% in the first quarter. American Century Companies Inc. now owns 1,930,681 shares of the oil and gas company’s stock worth $128,525,000 after buying an additional 1,528,604 shares in the last quarter. Investec Asset Management LTD boosted its stake in shares of Helmerich & Payne by 23.6% in the first quarter. Investec Asset Management LTD now owns 2,151,354 shares of the oil and gas company’s stock worth $143,216,000 after buying an additional 411,347 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Helmerich & Payne by 13.6% in the first quarter. Bank of New York Mellon Corp now owns 3,374,223 shares of the oil and gas company’s stock worth $224,623,000 after buying an additional 405,024 shares in the last quarter.
Shares of Helmerich & Payne, Inc. (NYSE HP) opened at 42.34 on Friday. The company has a 50-day moving average of $48.77 and a 200-day moving average of $58.08. Helmerich & Payne, Inc. has a 52 week low of $42.30 and a 52 week high of $85.78. The firm’s market capitalization is $4.60 billion.
Helmerich & Payne (NYSE:HP) last released its earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.05. The firm had revenue of $498.60 million for the quarter, compared to analyst estimates of $452.42 million. Helmerich & Payne had a negative return on equity of 3.37% and a negative net margin of 11.19%. Helmerich & Payne’s revenue was up 36.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.20) earnings per share. On average, equities analysts forecast that Helmerich & Payne, Inc. will post ($1.32) earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 6.61%. Helmerich & Payne’s dividend payout ratio is currently -167.66%.
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A number of research analysts recently weighed in on HP shares. Iberia Capital cut shares of Helmerich & Payne from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $74.00 to $55.00 in a report on Monday, July 31st. BidaskClub upgraded shares of Helmerich & Payne from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. BMO Capital Markets lowered their price target on shares of Helmerich & Payne from $54.00 to $40.00 and set an “underperform” rating for the company in a report on Friday, July 14th. Goldman Sachs Group, Inc. (The) cut shares of Helmerich & Payne from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $63.00 to $45.00 in a report on Monday, May 22nd. Finally, Credit Suisse Group reiterated a “buy” rating and set a $19.00 price target on shares of Helmerich & Payne in a report on Wednesday, May 24th. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the stock. Helmerich & Payne currently has a consensus rating of “Hold” and an average price target of $56.30.
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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