Louisiana State Employees Retirement System Raises Stock Holdings in Helmerich & Payne, Inc. (NYSE:HP)

Louisiana State Employees Retirement System grew its stake in Helmerich & Payne, Inc. (NYSE:HP) by 6.8% during the 3rd quarter, Holdings Channel reports. The fund owned 52,000 shares of the oil and gas company’s stock after acquiring an additional 3,300 shares during the period. Louisiana State Employees Retirement System’s holdings in Helmerich & Payne were worth $1,425,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of HP. BlackRock Inc. lifted its position in Helmerich & Payne by 19.8% during the second quarter. BlackRock Inc. now owns 17,728,705 shares of the oil and gas company’s stock worth $578,488,000 after buying an additional 2,935,130 shares during the period. Van ECK Associates Corp increased its stake in Helmerich & Payne by 119.5% during the second quarter. Van ECK Associates Corp now owns 4,198,764 shares of the oil and gas company’s stock worth $137,006,000 after acquiring an additional 2,286,230 shares during the last quarter. State Street Corp increased its stake in Helmerich & Payne by 24.8% during the second quarter. State Street Corp now owns 3,959,710 shares of the oil and gas company’s stock worth $129,205,000 after acquiring an additional 786,785 shares during the last quarter. Northern Trust Corp increased its stake in Helmerich & Payne by 72.6% during the second quarter. Northern Trust Corp now owns 1,336,958 shares of the oil and gas company’s stock worth $43,626,000 after acquiring an additional 562,381 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Helmerich & Payne by 40.3% during the second quarter. Geode Capital Management LLC now owns 1,804,464 shares of the oil and gas company’s stock worth $58,879,000 after acquiring an additional 518,337 shares during the last quarter. Institutional investors and hedge funds own 89.96% of the company’s stock.

HP opened at $25.29 on Thursday. Helmerich & Payne, Inc. has a 12 month low of $22.64 and a 12 month high of $36.26. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.83 and a quick ratio of 1.73. The stock has a market cap of $2.73 billion, a P/E ratio of -8.29 and a beta of 2.21. The stock’s 50 day moving average price is $30.41 and its 200 day moving average price is $29.80.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, November 17th. The oil and gas company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.11). Helmerich & Payne had a negative net margin of 26.76% and a negative return on equity of 9.12%. The business had revenue of $343.81 million during the quarter, compared to analyst estimates of $350.08 million. During the same quarter in the prior year, the business earned ($0.74) earnings per share. The firm’s revenue was up 65.1% compared to the same quarter last year. Equities analysts anticipate that Helmerich & Payne, Inc. will post -1.16 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 1st. Investors of record on Tuesday, November 23rd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend is Monday, November 22nd. Helmerich & Payne’s dividend payout ratio is currently -32.79%.

Several brokerages have commented on HP. Morgan Stanley dropped their price target on Helmerich & Payne from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday. Barclays upped their price target on Helmerich & Payne from $29.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday, October 25th. Citigroup dropped their price target on Helmerich & Payne from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Friday, November 19th. Evercore ISI upgraded Helmerich & Payne to a “buy” rating and set a $42.00 target price for the company in a research note on Friday, July 30th. Finally, Royal Bank of Canada lowered their target price on Helmerich & Payne from $40.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, November 19th. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $28.69.

In other news, CEO John W. Lindsay sold 9,000 shares of Helmerich & Payne stock in a transaction on Tuesday, October 19th. The stock was sold at an average price of $35.00, for a total transaction of $315,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Todd Willard Benson sold 5,000 shares of Helmerich & Payne stock in a transaction on Friday, October 15th. The shares were sold at an average price of $32.86, for a total value of $164,300.00. The disclosure for this sale can be found here. 4.75% of the stock is owned by company insiders.

Helmerich & Payne Company 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.

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Institutional Ownership by Quarter for Helmerich & Payne (NYSE:HP)

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