Teacher Retirement System of Texas grew its position in Helmerich & Payne, Inc. (NYSE:HP – Get Rating) by 43.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 24,520 shares of the oil and gas company’s stock after buying an additional 7,412 shares during the period. Teacher Retirement System of Texas’ holdings in Helmerich & Payne were worth $907,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Xponance Inc. increased its stake in shares of Helmerich & Payne by 4.5% in the 3rd quarter. Xponance Inc. now owns 5,839 shares of the oil and gas company’s stock valued at $216,000 after buying an additional 250 shares during the period. Stephens Inc. AR grew its stake in shares of Helmerich & Payne by 2.6% during the third quarter. Stephens Inc. AR now owns 9,991 shares of the oil and gas company’s stock worth $369,000 after purchasing an additional 252 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of Helmerich & Payne by 0.9% during the third quarter. Oregon Public Employees Retirement Fund now owns 34,856 shares of the oil and gas company’s stock worth $1,289,000 after purchasing an additional 309 shares during the period. Maryland State Retirement & Pension System grew its stake in shares of Helmerich & Payne by 0.8% during the second quarter. Maryland State Retirement & Pension System now owns 42,664 shares of the oil and gas company’s stock worth $1,837,000 after purchasing an additional 356 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Helmerich & Payne by 60.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,034 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 390 shares during the period. 92.42% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on HP shares. Morgan Stanley lifted their price objective on Helmerich & Payne from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Monday, November 21st. Susquehanna lifted their price objective on Helmerich & Payne from $65.00 to $72.00 and gave the stock a “positive” rating in a research note on Wednesday. Piper Sandler lifted their price objective on Helmerich & Payne from $61.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, November 18th. Benchmark initiated coverage on Helmerich & Payne in a research note on Thursday, January 19th. They set a “hold” rating for the company. Finally, Evercore ISI lifted their target price on Helmerich & Payne to $67.00 in a report on Monday, November 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Helmerich & Payne currently has an average rating of “Moderate Buy” and a consensus target price of $61.18.
Helmerich & Payne Stock Performance
Shares of Helmerich & Payne stock opened at $46.01 on Friday. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of 31.95, a price-to-earnings-growth ratio of 0.20 and a beta of 1.66. The stock’s 50-day moving average is $48.18 and its 200-day moving average is $45.74. Helmerich & Payne, Inc. has a one year low of $29.29 and a one year high of $54.59. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.30 and a quick ratio of 2.32.
Helmerich & Payne (NYSE:HP – Get Rating) last issued its quarterly earnings results on Tuesday, January 31st. The oil and gas company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.30. Helmerich & Payne had a return on equity of 6.43% and a net margin of 6.56%. The company had revenue of $719.60 million for the quarter, compared to analyst estimates of $699.92 million. During the same period in the previous year, the company posted ($0.45) earnings per share. The company’s quarterly revenue was up 75.6% compared to the same quarter last year. Equities analysts predict that Helmerich & Payne, Inc. will post 4.48 earnings per share for the current fiscal year.
Helmerich & Payne Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 28th. Investors of record on Tuesday, February 14th will be issued a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a yield of 4.22%. The ex-dividend date is Monday, February 13th. This is a positive change from Helmerich & Payne’s previous quarterly dividend of $0.25. Helmerich & Payne’s dividend payout ratio is presently 69.44%.
Helmerich & Payne Profile
Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.
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