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

Capital Investment Counsel Inc raised its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 4.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,630 shares of the oil and gas company’s stock after acquiring an additional 3,405 shares during the period. Capital Investment Counsel Inc owned approximately 0.08% of Helmerich & Payne worth $2,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of HP. Creative Planning raised its holdings in shares of Helmerich & Payne by 13.3% during the 3rd quarter. Creative Planning now owns 23,656 shares of the oil and gas company’s stock worth $720,000 after acquiring an additional 2,774 shares in the last quarter. Blue Trust Inc. increased its position in shares of Helmerich & Payne by 127.8% during the 3rd quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 854 shares during the last quarter. Raymond James & Associates increased its position in shares of Helmerich & Payne by 33.6% during the 3rd quarter. Raymond James & Associates now owns 93,310 shares of the oil and gas company’s stock valued at $2,838,000 after purchasing an additional 23,459 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Helmerich & Payne by 5.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 340,943 shares of the oil and gas company’s stock valued at $10,371,000 after purchasing an additional 18,147 shares during the last quarter. Finally, Eastern Bank bought a new position in shares of Helmerich & Payne during the 3rd quarter valued at approximately $61,000. 96.05% of the stock is owned by hedge funds and other institutional investors.

Helmerich & Payne Stock Performance

Shares of Helmerich & Payne stock opened at $27.13 on Friday. The stock’s fifty day moving average is $31.74 and its two-hundred day moving average is $32.97. The company has a market capitalization of $2.70 billion, a PE ratio of 8.92, a price-to-earnings-growth ratio of 3.39 and a beta of 1.37. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60. Helmerich & Payne, Inc. has a 52 week low of $25.69 and a 52 week high of $44.11.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. As a group, analysts expect that Helmerich & Payne, Inc. will post 2.95 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Friday, February 14th. Helmerich & Payne’s dividend payout ratio is 32.89%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Evercore ISI reissued an “in-line” rating and set a $39.00 target price (down previously from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Royal Bank of Canada cut their target price on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Citigroup raised Helmerich & Payne from a “neutral” rating to a “buy” rating and boosted their target price for the company from $33.00 to $40.00 in a research report on Friday, January 10th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. Finally, Argus raised Helmerich & Payne to a “hold” rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Helmerich & Payne has an average rating of “Hold” and a consensus target price of $37.25.

Insiders Place Their Bets

In other news, Director Belgacem Chariag bought 37,356 shares of the stock in a transaction on Monday, February 10th. The stock was acquired at an average cost of $27.08 per share, for a total transaction of $1,011,600.48. Following the acquisition, the director now owns 54,606 shares of the company’s stock, valued at $1,478,730.48. This represents a 216.56 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John W. Lindsay bought 20,000 shares of the stock in a transaction on Monday, February 10th. The stock was purchased at an average price of $27.55 per share, with a total value of $551,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 691,214 shares in the company, valued at approximately $19,042,945.70. This trade represents a 2.98 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 4.51% of the company’s stock.

Helmerich & Payne 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.