ARGA Investment Management LP Has $57.35 Million Stock Holdings in Helmerich & Payne, Inc. (NYSE:HP)

ARGA Investment Management LP reduced its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 0.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,885,215 shares of the oil and gas company’s stock after selling 5,763 shares during the period. Helmerich & Payne makes up approximately 1.9% of ARGA Investment Management LP’s holdings, making the stock its 16th biggest holding. ARGA Investment Management LP owned 1.91% of Helmerich & Payne worth $57,348,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of HP. Arizona State Retirement System grew its holdings in shares of Helmerich & Payne by 1.3% during the second quarter. Arizona State Retirement System now owns 27,667 shares of the oil and gas company’s stock worth $1,000,000 after buying an additional 342 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Helmerich & Payne by 2.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,002 shares of the oil and gas company’s stock valued at $795,000 after purchasing an additional 513 shares during the last quarter. KBC Group NV raised its holdings in shares of Helmerich & Payne by 20.3% in the third quarter. KBC Group NV now owns 3,130 shares of the oil and gas company’s stock valued at $95,000 after purchasing an additional 529 shares during the last quarter. Covestor Ltd lifted its position in shares of Helmerich & Payne by 76.9% in the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock worth $45,000 after purchasing an additional 643 shares in the last quarter. Finally, Headlands Technologies LLC boosted its holdings in Helmerich & Payne by 96.9% during the second quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company’s stock worth $56,000 after purchasing an additional 757 shares during the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Helmerich & Payne Stock Performance

Shares of NYSE HP opened at $34.63 on Friday. The company has a market capitalization of $3.42 billion, a P/E ratio of 10.07, a P/E/G ratio of 4.12 and a beta of 1.40. The stock has a 50 day moving average of $34.16 and a 200-day moving average of $34.89. Helmerich & Payne, Inc. has a 12 month low of $29.46 and a 12 month high of $44.11. The company has a current ratio of 2.67, a quick ratio of 2.40 and a debt-to-equity ratio of 0.61.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Wednesday, November 13th. The oil and gas company reported $0.76 EPS for the quarter, meeting analysts’ consensus estimates of $0.76. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. The firm had revenue of $693.79 million for the quarter, compared to analyst estimates of $695.99 million. During the same period in the prior year, the firm posted $0.69 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities research analysts predict that Helmerich & Payne, Inc. will post 3.21 EPS for the current year.

Helmerich & Payne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, November 18th. This represents a $1.00 annualized dividend and a dividend yield of 2.89%. Helmerich & Payne’s dividend payout ratio is presently 29.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Citigroup lowered their price target on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Royal Bank of Canada lowered their target price on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a research report on Friday, November 15th. 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 research note on Wednesday, November 20th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Finally, The Goldman Sachs Group cut their price objective on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $38.57.

About Helmerich & Payne

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.