Helmerich & Payne, Inc. (HP) Stake Boosted by Pictet Asset Management Ltd.
Pictet Asset Management Ltd. boosted its position in Helmerich & Payne, Inc. (NYSE:HP) by 12.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 269,323 shares of the oil and gas company’s stock after buying an additional 29,338 shares during the period. Pictet Asset Management Ltd.’s holdings in Helmerich & Payne were worth $14,183,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. BlackRock Inc. increased 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 during the last quarter. Artisan Partners Limited Partnership purchased a new stake in shares of Helmerich & Payne during the first quarter worth about $153,996,000. American Century Companies Inc. increased 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 during the last quarter. Investec Asset Management LTD increased 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 during the last quarter. Finally, Bank of New York Mellon Corp increased 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 during the last quarter.
Helmerich & Payne, Inc. (NYSE HP) opened at 46.18 on Friday. Helmerich & Payne, Inc. has a 1-year low of $46.00 and a 1-year high of $85.78. The stock’s market capitalization is $5.01 billion. The firm’s 50 day moving average is $52.55 and its 200 day moving average is $60.88.
Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.05. The business had revenue of $498.60 million for the quarter, compared to analysts’ expectations of $452.42 million. Helmerich & Payne had a negative return on equity of 3.37% and a negative net margin of 11.19%. The company’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.20) EPS. On average, equities research analysts anticipate that Helmerich & Payne, Inc. will post ($1.32) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.80 annualized dividend and a dividend yield of 6.06%. Helmerich & Payne’s dividend payout ratio (DPR) is -167.66%.
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A number of equities research analysts have recently issued reports on HP shares. Iberia Capital downgraded shares of Helmerich & Payne from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $74.00 to $55.00 in a report on Monday, July 31st. BidaskClub raised shares of Helmerich & Payne from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Credit Suisse Group reissued a “hold” rating and issued a $63.00 price target on shares of Helmerich & Payne in a report on Tuesday, May 2nd. BMO Capital Markets lowered their price target on shares of Helmerich & Payne from $54.00 to $40.00 and set an “underperform” rating on the stock in a report on Friday, July 14th. Finally, Goldman Sachs Group, Inc. (The) downgraded 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. Seven research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. Helmerich & Payne 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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