Ridgewood Investments LLC Buys 3,276 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Ridgewood Investments LLC lifted its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 34.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,816 shares of the oil and gas company’s stock after purchasing an additional 3,276 shares during the quarter. Ridgewood Investments LLC’s holdings in Helmerich & Payne were worth $410,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Covestor Ltd lifted its position in shares of Helmerich & Payne by 76.9% during the 3rd quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock worth $45,000 after buying an additional 643 shares in the last quarter. Blue Trust Inc. lifted its position 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 buying an additional 854 shares in the last quarter. Quarry LP bought a new position in shares of Helmerich & Payne during the 3rd quarter worth approximately $48,000. Headlands Technologies LLC lifted its position in shares of Helmerich & Payne by 96.9% during the 2nd quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company’s stock worth $56,000 after buying an additional 757 shares in the last quarter. Finally, Eastern Bank bought a new stake in shares of Helmerich & Payne in the 3rd quarter worth approximately $61,000. Institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Trading Up 3.8 %

Helmerich & Payne stock traded up $1.26 during mid-day trading on Friday, hitting $34.05. The company’s stock had a trading volume of 486,001 shares, compared to its average volume of 809,566. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 9.90, a price-to-earnings-growth ratio of 4.10 and a beta of 1.39. The business has a 50 day moving average price of $33.61 and a 200-day moving average price of $34.20. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.67 and a quick ratio of 2.40. Helmerich & Payne, Inc. has a 12 month low of $29.46 and a 12 month high of $44.11.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.76. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The company had revenue of $693.79 million for the quarter, compared to analysts’ expectations of $695.99 million. During the same quarter in the previous year, the company earned $0.69 earnings per share. Helmerich & Payne’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, analysts forecast that Helmerich & Payne, Inc. will post 3.12 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Friday, February 14th. Helmerich & Payne’s payout ratio is 29.07%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HP. Royal Bank of Canada lowered their price target on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a report on Friday, November 15th. Barclays reduced their price objective on shares of Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 20th. Citigroup upgraded shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $33.00 to $40.00 in a research note on Friday. Finally, Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Helmerich & Payne has an average rating of “Hold” and an average price target of $39.57.

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.