Ellis Investment Partners LLC Acquires 3,082 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Ellis Investment Partners LLC increased its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 31.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,807 shares of the oil and gas company’s stock after acquiring an additional 3,082 shares during the period. Ellis Investment Partners LLC’s holdings in Helmerich & Payne were worth $390,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of HP. Arizona State Retirement System grew its stake in shares of Helmerich & Payne by 1.3% in the 2nd quarter. Arizona State Retirement System now owns 27,667 shares of the oil and gas company’s stock worth $1,000,000 after buying an additional 342 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Helmerich & Payne by 2.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,002 shares of the oil and gas company’s stock worth $795,000 after acquiring an additional 513 shares during the last quarter. Whittier Trust Co. grew its stake in shares of Helmerich & Payne by 94.9% in 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 last quarter. Texas Permanent School Fund Corp increased its holdings in shares of Helmerich & Payne by 0.7% during the first quarter. Texas Permanent School Fund Corp now owns 86,492 shares of the oil and gas company’s stock valued at $3,638,000 after acquiring an additional 601 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of Helmerich & Payne by 253.4% in the 1st quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 674 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Performance

Helmerich & Payne stock traded up $0.50 during mid-day trading on Friday, reaching $34.49. 950,836 shares of the stock traded hands, compared to its average volume of 1,656,443. Helmerich & Payne, Inc. has a 12-month low of $29.46 and a 12-month high of $44.11. The business’s 50-day moving average is $32.80 and its 200-day moving average is $35.83. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.12 and a quick ratio of 1.87. The stock has a market capitalization of $3.41 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 3.67 and a beta of 1.42.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.77 by $0.15. The firm had revenue of $697.70 million during the quarter, compared to analyst estimates of $670.78 million. Helmerich & Payne had a net margin of 12.72% and a return on equity of 12.39%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.09 EPS. As a group, sell-side analysts predict that Helmerich & Payne, Inc. will post 3.53 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

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 given a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.00 annualized dividend and a yield of 2.90%. Helmerich & Payne’s payout ratio is presently 28.99%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Bank of America reduced their price objective on shares of Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Barclays reduced their price target on shares of Helmerich & Payne from $42.00 to $39.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Piper Sandler lowered their price objective on Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. The Goldman Sachs Group reduced their target price on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a report on Thursday, August 29th. Finally, Citigroup lowered their price target on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Helmerich & Payne presently has an average rating of “Hold” and a consensus price target of $40.29.

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.