Helmerich & Payne, Inc. (HP) Shares Bought by Brookstone Capital Management
Brookstone Capital Management increased its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 22.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,419 shares of the oil and gas company’s stock after purchasing an additional 1,188 shares during the quarter. Brookstone Capital Management’s holdings in Helmerich & Payne were worth $334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in HP. Swiss National Bank lifted its holdings in Helmerich & Payne by 3.1% in the second quarter. Swiss National Bank now owns 395,052 shares of the oil and gas company’s stock valued at $21,467,000 after acquiring an additional 11,800 shares during the period. Honkamp Krueger Financial Services Inc. bought a new position in Helmerich & Payne in the third quarter valued at about $286,000. Andra AP fonden lifted its holdings in Helmerich & Payne by 65.7% in the second quarter. Andra AP fonden now owns 29,000 shares of the oil and gas company’s stock valued at $1,576,000 after acquiring an additional 11,500 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Helmerich & Payne by 21.5% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 40,799 shares of the oil and gas company’s stock valued at $2,217,000 after acquiring an additional 7,219 shares during the period. Finally, KLCM Advisors Inc. bought a new position in Helmerich & Payne in the second quarter valued at about $489,000.
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In other news, CEO John W. Lindsay purchased 5,000 shares of the business’s stock in a transaction on Tuesday, September 12th. The stock was acquired at an average price of $47.73 per share, for a total transaction of $238,650.00. Following the acquisition, the chief executive officer now directly owns 147,727 shares of the company’s stock, valued at approximately $7,051,009.71. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.23% of the company’s stock.
Helmerich & Payne, Inc. (NYSE:HP) opened at $55.68 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.74 and a quick ratio of 3.33. Helmerich & Payne, Inc. has a 1-year low of $42.16 and a 1-year high of $85.78.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 13th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 5.03%. The ex-dividend date of this dividend is Friday, November 10th. Helmerich & Payne’s dividend payout ratio is presently -167.66%.
A number of research analysts have weighed in on the company. Cowen and Company reissued a “hold” rating and issued a $50.00 target price on shares of Helmerich & Payne in a report on Friday, August 11th. UBS AG reissued a “buy” rating and issued a $60.00 target price (down previously from $84.00) on shares of Helmerich & Payne in a report on Monday, July 31st. SunTrust Banks, Inc. reissued a “sell” rating and issued a $37.00 target price (down previously from $66.00) on shares of Helmerich & Payne in a report on Tuesday, October 3rd. Citigroup Inc. downgraded Helmerich & Payne from a “neutral” rating to a “sell” rating and lowered their target price for the company from $58.00 to $43.00 in a report on Friday, July 28th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $53.00 target price on shares of Helmerich & Payne in a report on Wednesday, October 18th. Nine analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $54.27.
About Helmerich & Payne
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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