State of New Jersey Common Pension Fund D Buys 9,004 Shares of Helmerich & Payne, Inc. (NYSE:HP)

State of New Jersey Common Pension Fund D boosted its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 18.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,634 shares of the oil and gas company’s stock after acquiring an additional 9,004 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of Helmerich & Payne worth $1,784,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Arizona State Retirement System lifted its stake in Helmerich & Payne by 1.3% during the second quarter. Arizona State Retirement System now owns 27,667 shares of the oil and gas company’s stock worth $1,000,000 after purchasing an additional 342 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Helmerich & Payne by 2.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 22,002 shares of the oil and gas company’s stock valued at $795,000 after purchasing an additional 513 shares in the last quarter. Covestor Ltd grew its holdings in shares of Helmerich & Payne by 76.9% in the 3rd quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock worth $45,000 after purchasing an additional 643 shares during the last quarter. Headlands Technologies LLC grew its holdings in shares of Helmerich & Payne by 96.9% in the 2nd quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company’s stock worth $56,000 after purchasing an additional 757 shares during the last quarter. Finally, Keene & Associates Inc. increased its position in shares of Helmerich & Payne by 11.3% during the 2nd quarter. Keene & Associates Inc. now owns 7,760 shares of the oil and gas company’s stock worth $280,000 after purchasing an additional 785 shares in the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on HP. The Goldman Sachs Group cut their target price on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a research note on Thursday, August 29th. Citigroup cut their price objective on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Royal Bank of Canada lowered their target price on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating for the company in a research note on Friday. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research report on Monday, August 5th. Finally, Evercore ISI upgraded shares of Helmerich & Payne to a “strong-buy” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $39.00.

Helmerich & Payne Stock Performance

Shares of NYSE:HP opened at $33.62 on Tuesday. The company has a current ratio of 2.67, a quick ratio of 1.87 and a debt-to-equity ratio of 0.61. Helmerich & Payne, Inc. has a 1-year low of $29.46 and a 1-year high of $44.11. The stock has a market capitalization of $3.32 billion, a P/E ratio of 9.77, a P/E/G ratio of 3.59 and a beta of 1.40. The business has a 50-day moving average price of $33.53 and a two-hundred day moving average price of $35.09.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.76. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The business had revenue of $693.79 million during the quarter, compared to the consensus estimate of $695.99 million. During the same period in the previous year, the firm posted $0.69 earnings per share. Helmerich & Payne’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities analysts predict that Helmerich & Payne, Inc. will post 3.57 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a $0.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.00 annualized dividend and a dividend yield of 2.97%. Helmerich & Payne’s dividend payout ratio is currently 29.07%.

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.