Capital Investment Counsel Inc Raises Stock Position in Helmerich & Payne, Inc. (NYSE:HP)

Capital Investment Counsel Inc lifted its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 3.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,235 shares of the oil and gas company’s stock after acquiring an additional 2,317 shares during the quarter. Capital Investment Counsel Inc owned 0.08% of Helmerich & Payne worth $2,827,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Headlands Technologies LLC purchased a new stake in shares of Helmerich & Payne in the first quarter valued at $33,000. Principal Securities Inc. purchased a new position in Helmerich & Payne in the 4th quarter valued at about $35,000. Hexagon Capital Partners LLC boosted its stake in shares of Helmerich & Payne by 514.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 787 shares during the last quarter. Covestor Ltd grew its holdings in shares of Helmerich & Payne by 253.4% during the first quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock worth $40,000 after buying an additional 674 shares in the last quarter. Finally, Whittier Trust Co. raised its position in shares of Helmerich & Payne by 94.9% in the first quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 595 shares during the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Susquehanna dropped their target price on shares of Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating for the company in a research report on Friday, April 26th. Royal Bank of Canada lifted their target price on shares of Helmerich & Payne from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a report on Monday, August 5th. Piper Sandler reduced their price objective on Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Finally, Bank of America decreased their target price on Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $41.88.

Helmerich & Payne Stock Performance

NYSE HP traded down $1.72 during trading hours on Tuesday, hitting $32.77. The company had a trading volume of 1,247,489 shares, compared to its average volume of 1,301,046. Helmerich & Payne, Inc. has a fifty-two week low of $32.17 and a fifty-two week high of $46.55. The firm has a market cap of $3.24 billion, a P/E ratio of 9.36, a price-to-earnings-growth ratio of 4.19 and a beta of 1.47. The company has a quick ratio of 1.87, a current ratio of 2.12 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $36.12 and a 200-day simple moving average of $38.23.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.15. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The company had revenue of $697.70 million for the quarter, compared to analysts’ expectations of $670.78 million. During the same quarter in the previous year, the company posted $1.09 earnings per share. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities analysts predict that Helmerich & Payne, Inc. will post 3.51 EPS for the current year.

Helmerich & Payne Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Friday, August 16th. Helmerich & Payne’s dividend payout ratio is currently 28.57%.

Helmerich & Payne Company 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.