Wedge Capital Management L L P NC Increases Stock Position in Helmerich & Payne, Inc. (NYSE:HP)

Wedge Capital Management L L P NC raised its stake in Helmerich & Payne, Inc. (NYSE:HP) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,384 shares of the oil and gas company’s stock after acquiring an additional 5,376 shares during the period. Wedge Capital Management L L P NC owned 0.19% of Helmerich & Payne worth $5,936,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Earnest Partners LLC boosted its position in shares of Helmerich & Payne by 15.7% in the 2nd quarter. Earnest Partners LLC now owns 3,469,609 shares of the oil and gas company’s stock valued at $125,392,000 after purchasing an additional 471,420 shares during the period. Pacer Advisors Inc. grew its position in shares of Helmerich & Payne by 9.4% during the second quarter. Pacer Advisors Inc. now owns 3,826,851 shares of the oil and gas company’s stock worth $138,302,000 after acquiring an additional 327,802 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Helmerich & Payne by 1,241.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 348,571 shares of the oil and gas company’s stock valued at $10,604,000 after acquiring an additional 322,578 shares during the period. Canada Pension Plan Investment Board raised its position in Helmerich & Payne by 120.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 367,100 shares of the oil and gas company’s stock valued at $13,267,000 after purchasing an additional 200,700 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Helmerich & Payne by 18.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,161,286 shares of the oil and gas company’s stock worth $35,326,000 after purchasing an additional 177,023 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Price Performance

Helmerich & Payne stock opened at $36.38 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.40 and a current ratio of 2.67. Helmerich & Payne, Inc. has a one year low of $29.46 and a one year high of $44.11. The company has a market cap of $3.59 billion, a P/E ratio of 10.57, a price-to-earnings-growth ratio of 4.22 and a beta of 1.39. The business has a fifty day moving average of $33.70 and a two-hundred day moving average of $34.20.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Wednesday, November 13th. The oil and gas company reported $0.76 EPS for the quarter, hitting analysts’ consensus estimates of $0.76. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The firm had revenue of $693.79 million for the quarter, compared to the consensus estimate of $695.99 million. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, analysts predict that Helmerich & Payne, Inc. will post 3.11 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.75%. The ex-dividend date is Friday, February 14th. Helmerich & Payne’s payout ratio is currently 29.07%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a report on Thursday, November 21st. Royal Bank of Canada decreased their price objective on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating for the company in a research report on Friday, November 15th. Evercore ISI reiterated an “in-line” rating and issued a $39.00 target price (down from $48.00) on shares of Helmerich & Payne in a research note on Wednesday. Barclays decreased their price target on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday, November 20th. Finally, Citigroup upgraded shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $33.00 to $40.00 in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $39.50.

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.