Pacer Advisors Inc. increased its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 13.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,323 shares of the oil and gas company’s stock after purchasing an additional 1,205 shares during the quarter. Pacer Advisors Inc.’s holdings in Helmerich & Payne were worth $523,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of HP. Commonwealth Bank of Australia grew its position in 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 valued at $27,000 after acquiring an additional 300 shares in the last quarter. Synovus Financial Corp boosted its stake 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 valued at $33,000 after buying an additional 180 shares during the period. Parallel Advisors LLC boosted its stake in shares of Helmerich & Payne by 2,704.0% in the 2nd quarter. Parallel Advisors LLC now owns 701 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 676 shares during the period. Edge Wealth Management LLC boosted its stake 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 valued at $50,000 after buying an additional 700 shares during the period. Finally, CSat Investment Advisory L.P. boosted its stake 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 valued at $52,000 after buying an additional 262 shares during the period. 90.73% of the stock is owned by hedge funds and other institutional investors.
HP has been the subject of several recent research reports. Wells Fargo & Co cut Helmerich & Payne from an “outperform” rating to an “underperform” rating and set a $30.00 price objective for the company. in a research note on Thursday. Bank of America decreased their price objective on Helmerich & Payne from $56.00 to $46.00 and set a “buy” rating for the company in a research note on Wednesday, August 28th. Susquehanna Bancshares decreased their price objective on Helmerich & Payne from $72.00 to $62.00 in a research note on Wednesday, July 10th. JPMorgan Chase & Co. decreased their price objective on Helmerich & Payne from $64.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Finally, B. Riley reiterated a “buy” rating and issued a $63.00 price objective (down previously from $83.00) on shares of Helmerich & Payne in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. Helmerich & Payne presently has an average rating of “Hold” and an average price target of $59.75.
Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, July 24th. The oil and gas company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.05. The firm had revenue of $687.97 million during the quarter, compared to analysts’ expectations of $689.41 million. Helmerich & Payne had a positive return on equity of 4.06% and a negative net margin of 2.54%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.01) earnings per share. On average, equities research analysts anticipate that Helmerich & Payne, Inc. will post 1.51 earnings per share for the current fiscal year.
The firm also recently announced a — dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 11th will be paid a dividend of $0.71 per share. This represents a yield of 7.4%. The ex-dividend date of this dividend is Thursday, November 7th. Helmerich & Payne’s 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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