Industry News

Helmerich & Payne, Inc. (NYSE:HP) Stake Decreased by Investec Asset Management LTD

By August 20, 2019 No Comments

Investec Asset Management LTD reduced its position in Helmerich & Payne, Inc. (NYSE:HP) by 6.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 274,997 shares of the oil and gas company’s stock after selling 20,169 shares during the quarter. Investec Asset Management LTD owned about 0.25% of Helmerich & Payne worth $13,920,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in HP. Commonwealth Bank of Australia increased its stake in Helmerich & Payne by 150.0% during the 1st quarter. Commonwealth Bank of Australia now owns 500 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 300 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Helmerich & Payne in the 1st quarter worth $28,000. Synovus Financial Corp grew 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 worth $33,000 after acquiring an additional 180 shares in the last quarter. CSat Investment Advisory L.P. grew 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 worth $52,000 after acquiring an additional 262 shares in the last quarter. Finally, NuWave Investment Management LLC grew its stake in shares of Helmerich & Payne by 9,520.0% in the 1st quarter. NuWave Investment Management LLC now owns 962 shares of the oil and gas company’s stock worth $54,000 after acquiring an additional 952 shares in the last quarter. 90.41% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have recently issued reports on HP shares. AltaCorp Capital reiterated an “outperform” rating on shares of Helmerich & Payne in a research note on Thursday, June 20th. TheStreet lowered shares of Helmerich & Payne from a “b-” rating to a “c+” rating in a research report on Tuesday, May 28th. Piper Jaffray Companies reduced their price target on shares of Helmerich & Payne from $57.00 to $52.50 and set an “overweight” rating for the company in a research report on Tuesday, July 30th. Susquehanna Bancshares reduced their price target on shares of Helmerich & Payne from $72.00 to $62.00 in a research report on Wednesday, July 10th. Finally, ValuEngine downgraded shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Four equities research 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 an average target price of $63.08.

Helmerich & Payne stock traded up $0.22 during midday trading on Monday, hitting $39.63. 15,411 shares of the company were exchanged, compared to its average volume of 1,680,349. Helmerich & Payne, Inc. has a fifty-two week low of $38.78 and a fifty-two week high of $73.74. The firm has a market capitalization of $4.33 billion, a PE ratio of 282.64 and a beta of 1.49. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.47 and a current ratio of 2.86. The business has a fifty day simple moving average of $47.98 and a two-hundred day simple moving average of $53.42.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, July 24th. The oil and gas company reported $0.40 EPS for the quarter, beating the Zacks’ 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 company had revenue of $687.97 million for the quarter, compared to the consensus estimate of $689.41 million. During the same quarter in the previous year, the business earned ($0.01) earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts expect that Helmerich & Payne, Inc. will post 1.58 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 12th will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, August 9th. This represents a $2.84 annualized dividend and a yield of 7.17%. Helmerich & Payne’s payout ratio is 2,028.57%.

About Helmerich & Payne

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.

Further Reading: Quick Ratio

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

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