Keene & Associates Inc. Buys 785 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Keene & Associates Inc. boosted its position in Helmerich & Payne, Inc. (NYSE:HP) by 11.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,760 shares of the oil and gas company’s stock after purchasing an additional 785 shares during the quarter. Keene & Associates Inc.’s holdings in Helmerich & Payne were worth $280,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of HP. Headlands Technologies LLC purchased a new stake in shares of Helmerich & Payne during the first quarter worth about $33,000. Principal Securities Inc. purchased a new stake in Helmerich & Payne during the 4th quarter worth approximately $35,000. Hexagon Capital Partners LLC increased its stake in 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 valued at $40,000 after purchasing an additional 787 shares in the last quarter. Covestor Ltd raised its holdings in shares of Helmerich & Payne by 253.4% in 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 during the last quarter. Finally, Whittier Trust Co. lifted its stake in shares of Helmerich & Payne by 94.9% during the first quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock worth $51,000 after buying an additional 595 shares during the period. Institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Trading Down 2.5 %

Shares of Helmerich & Payne stock opened at $29.85 on Monday. The firm has a 50-day simple moving average of $35.09 and a two-hundred day simple moving average of $37.41. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.87 and a current ratio of 2.12. Helmerich & Payne, Inc. has a fifty-two week low of $29.46 and a fifty-two week high of $46.55. The company has a market cap of $2.95 billion, a P/E ratio of 8.53, a price-to-earnings-growth ratio of 3.29 and a beta of 1.42.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.15. Helmerich & Payne had a net margin of 12.72% and a return on equity of 12.39%. The business had revenue of $697.70 million for the quarter, compared to analyst estimates of $670.78 million. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.09 EPS. As a group, equities analysts predict that Helmerich & Payne, Inc. will post 3.57 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $0.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.00 dividend on an annualized basis and a yield of 3.35%. Helmerich & Payne’s dividend payout ratio is currently 28.57%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HP. The Goldman Sachs Group reduced their target price on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a research note on Thursday, August 29th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a report on Monday, August 5th. Bank of America reduced their price target on shares of Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Citigroup dropped their price objective on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Evercore ISI upgraded shares of Helmerich & Payne to a “strong-buy” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Helmerich & Payne presently has an average rating of “Hold” and an average target price of $40.88.

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.