TIAA CREF Investment Management LLC Has $22.26 Million Position in Helmerich & Payne, Inc. (HP)

TIAA CREF Investment Management LLC decreased its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 1.0% during the first quarter, Holdings Channel reports. The fund owned 334,387 shares of the oil and gas company’s stock after selling 3,361 shares during the period. TIAA CREF Investment Management LLC’s holdings in Helmerich & Payne were worth $22,260,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. A.R.T. Advisors LLC bought a new position in shares of Helmerich & Payne during the fourth quarter worth about $1,927,000. Zurich Insurance Group Ltd FI bought a new position in shares of Helmerich & Payne during the fourth quarter worth about $424,000. Davy Asset Management Ltd bought a new position in shares of Helmerich & Payne during the fourth quarter worth about $1,269,000. Capstone Investment Advisors LLC bought a new position in shares of Helmerich & Payne during the fourth quarter worth about $2,112,000. Finally, Renaissance Technologies LLC boosted its position in shares of Helmerich & Payne by 434.8% in the fourth quarter. Renaissance Technologies LLC now owns 412,300 shares of the oil and gas company’s stock worth $31,912,000 after buying an additional 335,200 shares during the last quarter.

Institutional Ownership by Quarter for Helmerich & Payne (NYSE:HP)

Helmerich & Payne, Inc. (HP) traded down 1.50% during midday trading on Tuesday, hitting $53.26. The company had a trading volume of 801,171 shares. The company has a 50 day moving average price of $55.97 and a 200 day moving average price of $67.86. Helmerich & Payne, Inc. has a 1-year low of $49.46 and a 1-year high of $85.78. The firm’s market capitalization is $5.78 billion.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Thursday, April 27th. The oil and gas company reported ($0.47) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by $0.07. Helmerich & Payne had a negative return on equity of 3.96% and a negative net margin of 12.09%. The firm had revenue of $405.30 million during the quarter, compared to analyst estimates of $386.83 million. During the same quarter in the previous year, the firm posted $0.19 earnings per share. The company’s quarterly revenue was down 7.5% on a year-over-year basis. Equities research analysts forecast that Helmerich & Payne, Inc. will post ($1.34) earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 5.18%. The ex-dividend date is Wednesday, August 16th. Helmerich & Payne’s payout ratio is -168.67%.

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HP has been the subject of a number of research analyst reports. Zacks Investment Research raised Helmerich & Payne from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a report on Monday, April 3rd. Guggenheim raised Helmerich & Payne from a “neutral” rating to a “buy” rating in a report on Monday, April 3rd. Bank of America Corporation raised Helmerich & Payne from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $82.00 to $79.00 in a report on Friday, February 24th. Credit Suisse Group reissued a “buy” rating and issued a $19.00 target price on shares of Helmerich & Payne in a report on Wednesday, May 24th. Finally, Tudor Pickering initiated coverage on Helmerich & Payne in a report on Thursday, March 23rd. They issued a “hold” rating for the company. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $64.64.

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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