Grace & White Inc. NY lifted its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 1.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 203,837 shares of the oil and gas company’s stock after buying an additional 2,700 shares during the quarter. Helmerich & Payne makes up about 2.4% of Grace & White Inc. NY’s holdings, making the stock its 5th biggest holding. Grace & White Inc. NY’s holdings in Helmerich & Payne were worth $10,318,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in HP. Commonwealth Equity Services LLC grew its holdings in Helmerich & Payne by 6.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 84,164 shares of the oil and gas company’s stock valued at $4,260,000 after buying an additional 4,986 shares in the last quarter. Bristlecone Advisors LLC purchased a new position in shares of Helmerich & Payne in the second quarter valued at $478,000. American Research & Management Co. grew its holdings in shares of Helmerich & Payne by 15.5% in the second quarter. American Research & Management Co. now owns 43,895 shares of the oil and gas company’s stock valued at $2,222,000 after purchasing an additional 5,885 shares in the last quarter. Waverton Investment Management Ltd purchased a new position in shares of Helmerich & Payne in the second quarter valued at $518,000. Finally, CWM Advisors LLC grew its holdings in shares of Helmerich & Payne by 18.6% in the second quarter. CWM Advisors LLC now owns 10,099 shares of the oil and gas company’s stock valued at $511,000 after purchasing an additional 1,584 shares in the last quarter. 90.62% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the stock. B. Riley reissued a “buy” rating on shares of Gold Standard Ventures in a report on Wednesday, July 24th. Susquehanna Bancshares cut their target price on shares of Helmerich & Payne from $72.00 to $62.00 in a report on Wednesday, July 10th. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. JPMorgan Chase & Co. set a $69.00 target price on shares of Helmerich & Payne and gave the company a “buy” rating in a report on Wednesday, June 5th. Finally, AltaCorp Capital reissued a “sector perform” rating on shares of STEP Energy Services in a report on Thursday, June 20th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $65.03.
Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.40 earnings per share for the quarter, topping 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 business had revenue of $687.97 million for the quarter, compared to analyst estimates of $689.41 million. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. On average, equities analysts expect that Helmerich & Payne, Inc. will post 1.57 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.71%. Helmerich & Payne’s payout ratio is 2,028.57%.
Helmerich & Payne Profile
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.
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