Helmerich & Payne, Inc. (NYSE:HP) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lifted its stake in Helmerich & Payne, Inc. (NYSE:HP) by 120.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 367,100 shares of the oil and gas company’s stock after purchasing an additional 200,700 shares during the quarter. Canada Pension Plan Investment Board owned about 0.37% of Helmerich & Payne worth $13,267,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in HP. Headlands Technologies LLC acquired a new stake in shares of Helmerich & Payne in the 1st quarter worth $33,000. Hexagon Capital Partners LLC raised its stake in Helmerich & Payne by 514.4% during 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 period. Covestor Ltd boosted its holdings in Helmerich & Payne by 253.4% in the 1st quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 674 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Helmerich & Payne in the 4th quarter valued at approximately $35,000. Finally, Whittier Trust Co. increased its holdings in shares of Helmerich & Payne by 94.9% during 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 last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on HP shares. The Goldman Sachs Group decreased their price objective on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. Evercore ISI upgraded Helmerich & Payne to a “strong-buy” rating in a report on Friday, July 26th. Royal Bank of Canada boosted their price objective on shares of Helmerich & Payne from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Friday, July 26th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research note on Monday, August 5th. Finally, Bank of America dropped 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. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $40.88.

Helmerich & Payne Price Performance

Shares of NYSE:HP opened at $32.97 on Tuesday. Helmerich & Payne, Inc. has a 12 month low of $29.46 and a 12 month high of $45.04. The firm has a market capitalization of $3.25 billion, a P/E ratio of 9.42, a P/E/G ratio of 3.29 and a beta of 1.42. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.12 and a quick ratio of 1.87. The company’s fifty day moving average price is $34.48 and its 200 day moving average price is $37.13.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share for the quarter, beating 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 earned $1.09 earnings per share. The company’s revenue was down 3.6% compared to the same quarter last year. As a group, sell-side analysts predict that Helmerich & Payne, Inc. will post 3.57 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.03%. The ex-dividend date is Monday, November 18th. Helmerich & Payne’s dividend payout ratio is presently 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.