MQS Management LLC Makes New Investment in Helmerich & Payne, Inc. (NYSE:HP)

MQS Management LLC bought a new stake in shares of Helmerich & Payne, Inc. (NYSE:HP) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,140 shares of the oil and gas company’s stock, valued at approximately $330,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in Helmerich & Payne in the first quarter worth about $33,000. Hexagon Capital Partners LLC grew its holdings in shares of Helmerich & Payne by 514.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 787 shares during the period. Covestor Ltd raised its position in shares of Helmerich & Payne by 253.4% in the 1st quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 674 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of Helmerich & Payne in the 4th quarter valued at approximately $35,000. Finally, Whittier Trust Co. grew its stake in Helmerich & Payne by 94.9% in the first quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 595 shares during the period. Institutional investors own 96.05% of the company’s stock.

Analyst Upgrades and Downgrades

HP has been the topic of several research reports. Bank of America dropped their price objective on shares of Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. The Goldman Sachs Group cut their price target on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th. Citigroup lowered their price objective on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research note on Monday, August 5th. Finally, Evercore ISI raised Helmerich & Payne to a “strong-buy” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Helmerich & Payne presently has a consensus rating of “Hold” and a consensus target price of $40.88.

Helmerich & Payne Price Performance

NYSE HP opened at $32.62 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.87 and a current ratio of 2.12. The company 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. Helmerich & Payne, Inc. has a one year low of $29.46 and a one year high of $45.04.

Helmerich & Payne (NYSE:HP) last released 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 net margin of 12.72% and a return on equity of 12.39%. The firm had revenue of $697.70 million during the quarter, compared to analysts’ expectations of $670.78 million. During the same period in the previous year, the company earned $1.09 earnings per share. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. On average, sell-side analysts forecast that Helmerich & Payne, Inc. will post 3.57 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend 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 (DPR) is currently 28.57%.

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.