First Eagle Investment Management LLC Boosts Stake in Helmerich & Payne, Inc. (NYSE:HP)

First Eagle Investment Management LLC lifted its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 1.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,693 shares of the oil and gas company’s stock after buying an additional 1,000 shares during the period. First Eagle Investment Management LLC owned approximately 0.11% of Helmerich & Payne worth $3,747,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in Helmerich & Payne during the 1st quarter worth about $33,000. Hexagon Capital Partners LLC raised its stake in shares of Helmerich & Payne by 514.4% in the first quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 787 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Helmerich & Payne by 253.4% during the first quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 674 shares during the period. Principal Securities Inc. purchased a new stake in Helmerich & Payne in the fourth quarter valued at approximately $35,000. Finally, Whittier Trust Co. increased its holdings in Helmerich & Payne by 94.9% in the 1st 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. 96.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HP has been the topic of several recent research reports. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a report on Monday, August 5th. Citigroup cut their price target on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Royal Bank of Canada boosted their price objective on Helmerich & Payne from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Evercore ISI upgraded Helmerich & Payne to a “strong-buy” rating in a research note on Friday, July 26th. Finally, Piper Sandler reduced their price target on Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Helmerich & Payne has an average rating of “Hold” and an average target price of $40.88.

Helmerich & Payne Stock Performance

NYSE HP opened at $32.62 on Friday. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 9.32, a PEG ratio of 3.29 and a beta of 1.42. The stock has a 50-day moving average of $34.72 and a 200 day moving average of $37.23. The company has a current ratio of 2.12, a quick ratio of 1.87 and a debt-to-equity ratio of 0.19. Helmerich & Payne, Inc. has a twelve month low of $29.46 and a twelve month high of $45.04.

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

Helmerich & Payne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, November 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.07%. Helmerich & Payne’s dividend payout ratio is currently 28.57%.

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.