Hodges Capital Management Inc. Reduces Stock Position in Helmerich & Payne, Inc. (NYSE:HP)

Hodges Capital Management Inc. decreased its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 29.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,275 shares of the oil and gas company’s stock after selling 2,980 shares during the quarter. Hodges Capital Management Inc.’s holdings in Helmerich & Payne were worth $233,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. raised its stake in Helmerich & Payne by 1,241.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 348,571 shares of the oil and gas company’s stock worth $10,604,000 after buying an additional 322,578 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Helmerich & Payne by 18.0% in the third quarter. The Manufacturers Life Insurance Company now owns 1,161,286 shares of the oil and gas company’s stock worth $35,326,000 after purchasing an additional 177,023 shares in the last quarter. Barclays PLC lifted its position in shares of Helmerich & Payne by 320.2% during the third quarter. Barclays PLC now owns 198,415 shares of the oil and gas company’s stock valued at $6,035,000 after buying an additional 151,196 shares during the last quarter. Global Alpha Capital Management Ltd. boosted its holdings in shares of Helmerich & Payne by 18.7% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 880,781 shares of the oil and gas company’s stock valued at $26,793,000 after buying an additional 138,590 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Helmerich & Payne by 116.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 242,515 shares of the oil and gas company’s stock worth $7,377,000 after acquiring an additional 130,455 shares in the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.

Helmerich & Payne Stock Down 0.9 %

HP opened at $31.30 on Tuesday. The business has a 50 day simple moving average of $33.48 and a 200-day simple moving average of $33.90. Helmerich & Payne, Inc. has a 12 month low of $29.46 and a 12 month high of $44.11. The stock has a market capitalization of $3.15 billion, a P/E ratio of 9.10, a P/E/G ratio of 3.88 and a beta of 1.37. 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 (NYSE:HP) last announced its quarterly earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 EPS for the quarter, hitting the consensus estimate of $0.76. The business had revenue of $693.79 million for the quarter, compared to analyst estimates of $695.99 million. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.69 EPS. On average, equities analysts anticipate that Helmerich & Payne, Inc. will post 3.11 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Friday, February 14th. Helmerich & Payne’s dividend payout ratio is presently 29.07%.

Analyst Ratings Changes

HP has been the topic of a number of recent analyst reports. Citigroup upgraded shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and upped their price target for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Royal Bank of Canada reduced their price objective on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating for the company in a research note on Friday, November 15th. Barclays reduced their price target on shares of Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 20th. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $39.00 price objective (down from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $39.50.

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.