Helmerich & Payne, Inc. (NYSE:HP) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its position in Helmerich & Payne, Inc. (NYSE:HP) by 28.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 593,330 shares of the oil and gas company’s stock after buying an additional 129,613 shares during the quarter. JPMorgan Chase & Co. owned 0.60% of Helmerich & Payne worth $18,049,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Covestor Ltd lifted its holdings in Helmerich & Payne by 76.9% in the 3rd quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock valued at $45,000 after purchasing an additional 643 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Helmerich & Payne by 127.8% during the 3rd quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 854 shares during the period. Quarry LP purchased a new position in Helmerich & Payne in the third quarter valued at approximately $48,000. Headlands Technologies LLC raised its holdings in Helmerich & Payne by 96.9% in the second quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company’s stock valued at $56,000 after buying an additional 757 shares during the period. Finally, Eastern Bank purchased a new stake in Helmerich & Payne during the third quarter worth approximately $61,000. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Stock Performance

Helmerich & Payne stock opened at $32.83 on Friday. Helmerich & Payne, Inc. has a 52 week low of $29.46 and a 52 week high of $44.11. The company has a current ratio of 2.67, a quick ratio of 2.40 and a debt-to-equity ratio of 0.61. The stock has a market cap of $3.24 billion, a P/E ratio of 9.54, a price-to-earnings-growth ratio of 4.10 and a beta of 1.39. The stock has a 50 day moving average of $33.61 and a 200-day moving average of $34.20.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, November 13th. The oil and gas company reported $0.76 EPS for the quarter, meeting analysts’ consensus estimates of $0.76. The firm had revenue of $693.79 million for the quarter, compared to the consensus estimate of $695.99 million. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 EPS. On average, analysts expect that Helmerich & Payne, Inc. will post 3.12 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.00 dividend on an annualized basis and a yield of 3.05%. Helmerich & Payne’s dividend payout ratio (DPR) is 29.07%.

Analyst Ratings Changes

HP has been the subject of a number of research reports. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. Royal Bank of Canada dropped their target price on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a report on Friday, November 15th. Citigroup decreased their price target on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Finally, Barclays dropped their price objective on shares of Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $38.57.

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.