Suntrust Banks Inc. boosted its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 10.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 163,684 shares of the oil and gas company’s stock after buying an additional 15,035 shares during the period. Suntrust Banks Inc. owned approximately 0.15% of Helmerich & Payne worth $10,894,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Capital World Investors boosted its position in shares of Helmerich & Payne by 6.5% in the third quarter. Capital World Investors now owns 7,919,050 shares of the oil and gas company’s stock valued at $532,952,000 after buying an additional 486,400 shares during the last quarter. State Street Corp boosted its position in shares of Helmerich & Payne by 5.3% in the fourth quarter. State Street Corp now owns 5,927,018 shares of the oil and gas company’s stock valued at $458,755,000 after buying an additional 295,670 shares during the last quarter. Capital International Investors boosted its position in shares of Helmerich & Payne by 17.8% in the third quarter. Capital International Investors now owns 4,390,215 shares of the oil and gas company’s stock valued at $295,461,000 after buying an additional 664,100 shares during the last quarter. Bank of New York Mellon Corp boosted its position 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 valued at $224,623,000 after buying an additional 405,024 shares during the last quarter. Finally, American Century Companies Inc. boosted its position 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 valued at $128,525,000 after buying an additional 1,528,604 shares during the last quarter.
Helmerich & Payne, Inc. (NYSE:HP) traded up 5.24% during trading on Friday, reaching $60.04. 2,352,212 shares of the company were exchanged. The firm has a 50-day moving average of $63.07 and a 200-day moving average of $69.68. Helmerich & Payne, Inc. has a 52-week low of $55.98 and a 52-week high of $85.78. The firm’s market cap is $6.52 billion.
Helmerich & Payne (NYSE:HP) last issued its earnings results on Thursday, April 27th. The oil and gas company reported ($0.47) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by $0.07. Helmerich & Payne had a negative net margin of 7.17% and a negative return on equity of 3.34%. The firm had revenue of $405.30 million during the quarter, compared to the consensus estimate of $386.83 million. During the same period in the previous year, the company posted $0.19 EPS. The firm’s revenue for the quarter was down 7.5% on a year-over-year basis. On average, equities analysts forecast that Helmerich & Payne, Inc. will post ($1.34) EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Friday, May 19th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 4.91%. The ex-dividend date is Wednesday, May 17th. Helmerich & Payne’s payout ratio is presently -274.51%.
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Several research firms recently weighed in on HP. Bank of America Corp upgraded shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $82.00 to $79.00 in a research note on Friday, February 24th. Guggenheim upgraded shares of Helmerich & Payne from a “neutral” rating to a “buy” rating in a research note on Monday, April 3rd. Zacks Investment Research lowered shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a research note on Monday, April 10th. Tudor Pickering started coverage on shares of Helmerich & Payne in a research note on Thursday, March 23rd. They set a “hold” rating on the stock. Finally, Jefferies Group LLC restated a “sell” rating and issued a $55.00 price target on shares of Helmerich & Payne in a research note on Wednesday, March 22nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Helmerich & Payne has an average rating of “Hold” and a consensus target price of $70.10.
In other news, Director Thomas A. Petrie bought 1,990 shares of the stock in a transaction on Friday, March 10th. The stock was purchased at an average price of $67.17 per share, with a total value of $133,668.30. Following the completion of the purchase, the director now owns 8,583 shares of the company’s stock, valued at $576,520.11. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.23% of the stock is currently owned by corporate insiders.
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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