Private Capital Management LLC Makes New $1.10 Million Investment in Helmerich & Payne, Inc. (NYSE:HP)

Private Capital Management LLC acquired a new stake in Helmerich & Payne, Inc. (NYSE:HP) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,000 shares of the oil and gas company’s stock, valued at approximately $1,095,000.

Other institutional investors have also recently modified their holdings of the company. Kestra Investment Management LLC acquired a new stake in shares of Helmerich & Payne during the 4th quarter worth approximately $27,000. Covestor Ltd grew its position in Helmerich & Payne by 76.9% during the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 643 shares during the period. Blue Trust Inc. increased its holdings in Helmerich & Payne by 127.8% in the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock valued at $46,000 after buying an additional 854 shares in the last quarter. Quarry LP acquired a new position in shares of Helmerich & Payne in the third quarter worth about $48,000. Finally, Steph & Co. purchased a new stake in shares of Helmerich & Payne during the 4th quarter worth about $87,000. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Evercore ISI reaffirmed an “in-line” rating and set a $39.00 target price (down from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Barclays dropped their price target on shares of Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Argus upgraded shares of Helmerich & Payne to a “hold” rating in a research report on Tuesday, February 11th. Finally, Royal Bank of Canada decreased their price objective on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $37.25.

Helmerich & Payne Trading Up 1.0 %

Shares of HP opened at $26.36 on Friday. Helmerich & Payne, Inc. has a 52-week low of $25.69 and a 52-week high of $44.11. The stock has a market cap of $2.62 billion, a PE ratio of 8.67, a price-to-earnings-growth ratio of 3.52 and a beta of 1.37. The firm’s fifty day moving average is $31.20 and its two-hundred day moving average is $32.71. 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 (NYSE:HP) last posted its quarterly earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. Research analysts forecast that Helmerich & Payne, Inc. will post 2.93 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 Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.79%. Helmerich & Payne’s dividend payout ratio (DPR) is presently 32.89%.

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.