Blue Trust Inc. Increases Stock Position in Helmerich & Payne, Inc. (NYSE:HP)

Blue Trust Inc. raised its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 127.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,522 shares of the oil and gas company’s stock after acquiring an additional 854 shares during the quarter. Blue Trust Inc.’s holdings in Helmerich & Payne were worth $46,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Headlands Technologies LLC bought a new stake in shares of Helmerich & Payne during the 1st quarter worth about $33,000. Covestor Ltd lifted its stake in shares of Helmerich & Payne by 253.4% in the first quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock worth $40,000 after buying an additional 674 shares during the last quarter. Whittier Trust Co. increased its position in Helmerich & Payne by 94.9% during the first quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 595 shares during the period. Public Employees Retirement System of Ohio bought a new position in Helmerich & Payne during the first quarter worth $102,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Helmerich & Payne during the first quarter worth $106,000. 96.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HP has been the topic of several analyst reports. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a report on Monday, August 5th. Citigroup reduced their price target on shares of 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 upped their price target on shares of Helmerich & Payne from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Evercore ISI upgraded shares of Helmerich & Payne to a “strong-buy” rating in a research report on Friday, July 26th. Finally, Piper Sandler reduced their price target on shares of Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $40.29.

Helmerich & Payne Price Performance

Shares of HP opened at $32.93 on Friday. Helmerich & Payne, Inc. has a twelve month low of $29.46 and a twelve month high of $44.11. The company has a quick ratio of 1.87, a current ratio of 2.12 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average of $32.83 and a 200-day moving average of $35.58. The stock has a market capitalization of $3.25 billion, a P/E ratio of 9.54, a P/E/G ratio of 3.60 and a beta of 1.42.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Monday, November 18th. Helmerich & Payne’s dividend payout ratio is 28.99%.

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.