Meeder Asset Management Inc. decreased its stake in Helmerich & Payne, Inc. (NYSE:HP) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,270 shares of the oil and gas company’s stock after selling 486 shares during the quarter. Meeder Asset Management Inc.’s holdings in Helmerich & Payne were worth $773,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Commonwealth Bank of Australia boosted its holdings in shares of Helmerich & Payne by 150.0% in the 1st quarter. Commonwealth Bank of Australia now owns 500 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 300 shares during the period. Cullen Frost Bankers Inc. purchased a new position in shares of Helmerich & Payne in the 1st quarter worth approximately $28,000. Synovus Financial Corp boosted its holdings in shares of Helmerich & Payne by 45.0% in the 1st quarter. Synovus Financial Corp now owns 580 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 180 shares during the period. Edge Wealth Management LLC boosted its holdings in shares of Helmerich & Payne by 233.3% in the 2nd quarter. Edge Wealth Management LLC now owns 1,000 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 700 shares during the period. Finally, CSat Investment Advisory L.P. boosted its holdings in shares of Helmerich & Payne by 38.6% in the 1st quarter. CSat Investment Advisory L.P. now owns 941 shares of the oil and gas company’s stock worth $52,000 after purchasing an additional 262 shares during the period. Hedge funds and other institutional investors own 90.41% of the company’s stock.
A number of equities analysts have recently commented on HP shares. Zacks Investment Research cut Helmerich & Payne from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Royal Bank of Canada set a $65.00 price objective on Helmerich & Payne and gave the company a “buy” rating in a report on Friday, July 26th. B. Riley restated a “buy” rating and set a $63.00 price objective (down previously from $83.00) on shares of Helmerich & Payne in a report on Friday, August 2nd. AltaCorp Capital restated an “outperform” rating on shares of Helmerich & Payne in a report on Thursday, June 20th. Finally, TheStreet cut Helmerich & Payne from a “b-” rating to a “c+” rating in a report on Tuesday, May 28th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. Helmerich & Payne has a consensus rating of “Hold” and a consensus target price of $63.08.
Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, July 24th. The oil and gas company reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.05. Helmerich & Payne had a positive return on equity of 4.06% and a negative net margin of 2.54%. The business had revenue of $687.97 million during the quarter, compared to analysts’ expectations of $689.41 million. During the same period in the prior year, the business earned ($0.01) EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Research analysts predict that Helmerich & Payne, Inc. will post 1.58 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 7.15%. The ex-dividend date of this dividend is Friday, August 9th. Helmerich & Payne’s dividend payout ratio is 2,028.57%.
Helmerich & Payne Profile
Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.
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