Fifth Third Bancorp decreased its holdings in Helmerich & Payne, Inc. (NYSE:HP – Free Report) by 31.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,570 shares of the oil and gas company’s stock after selling 9,353 shares during the period. Fifth Third Bancorp’s holdings in Helmerich & Payne were worth $659,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of HP. State of New Jersey Common Pension Fund D raised its position in Helmerich & Payne by 18.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 58,634 shares of the oil and gas company’s stock worth $1,784,000 after buying an additional 9,004 shares during the last quarter. Petrus Trust Company LTA bought a new stake in shares of Helmerich & Payne in the third quarter worth approximately $619,000. FMR LLC raised its holdings in shares of Helmerich & Payne by 510.7% during the third quarter. FMR LLC now owns 140,655 shares of the oil and gas company’s stock valued at $4,279,000 after purchasing an additional 117,624 shares during the last quarter. Barclays PLC lifted its position in Helmerich & Payne by 320.2% during the third quarter. Barclays PLC now owns 198,415 shares of the oil and gas company’s stock valued at $6,035,000 after purchasing an additional 151,196 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Helmerich & Payne by 28.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 593,330 shares of the oil and gas company’s stock worth $18,049,000 after purchasing an additional 129,613 shares during the period. Hedge funds and other institutional investors own 96.05% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on HP shares. Citigroup raised Helmerich & Payne from a “neutral” rating to a “buy” rating and increased their price target for the company from $33.00 to $40.00 in a report on Friday, January 10th. Evercore ISI reissued an “in-line” rating and issued a $39.00 target price (down from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Barclays reduced their price target on shares of Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 20th. Royal Bank of Canada dropped their price objective on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a report on Friday, November 15th. Finally, Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Helmerich & Payne has an average rating of “Hold” and a consensus target price of $39.50.
Helmerich & Payne Stock Performance
HP opened at $32.82 on Thursday. The company has a 50 day simple moving average of $33.71 and a two-hundred day simple moving average of $34.12. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.67 and a quick ratio of 2.40. The firm has a market cap of $3.24 billion, a P/E ratio of 9.54, a PEG ratio of 4.45 and a beta of 1.39. Helmerich & Payne, Inc. has a 1-year low of $29.46 and a 1-year high of $44.11.
Helmerich & Payne (NYSE:HP – Get Free Report) last issued its earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share for the quarter, hitting the consensus estimate of $0.76. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The company had revenue of $693.79 million during the quarter, compared to the consensus estimate of $695.99 million. During the same quarter in the prior year, the firm posted $0.69 EPS. Helmerich & Payne’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities analysts forecast that Helmerich & Payne, Inc. will post 3.06 earnings per share for the current fiscal year.
Helmerich & Payne Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.25 dividend. The ex-dividend date is Friday, February 14th. This represents a $1.00 dividend on an annualized basis and a yield of 3.05%. Helmerich & Payne’s dividend payout ratio is presently 29.07%.
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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