Covestor Ltd Boosts Stake in Helmerich & Payne, Inc. (NYSE:HP)

Covestor Ltd raised its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 76.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,479 shares of the oil and gas company’s stock after purchasing an additional 643 shares during the period. Covestor Ltd’s holdings in Helmerich & Payne were worth $45,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in HP. Headlands Technologies LLC acquired a new position in shares of Helmerich & Payne in the 1st quarter valued at $33,000. Blue Trust Inc. grew its position in 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. Eastern Bank purchased a new stake in shares of Helmerich & Payne during the 3rd quarter worth about $61,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Helmerich & Payne during the 1st quarter worth about $102,000. Finally, CWM LLC boosted its stake in shares of Helmerich & Payne by 66.7% during the 2nd quarter. CWM LLC now owns 4,972 shares of the oil and gas company’s stock worth $180,000 after acquiring an additional 1,990 shares in the last quarter. 96.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on HP shares. The Goldman Sachs Group decreased their price target on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th. Citigroup cut their price objective on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Royal Bank of Canada cut their price target on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating for the company in a report on Friday. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a report on Monday, August 5th. Finally, Barclays cut 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 report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $39.00.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $33.85 on Friday. The company has a quick ratio of 1.87, a current ratio of 2.12 and a debt-to-equity ratio of 0.19. Helmerich & Payne, Inc. has a 52 week low of $29.46 and a 52 week high of $44.11. The stock has a market capitalization of $3.34 billion, a PE ratio of 9.84, a P/E/G ratio of 3.84 and a beta of 1.40. The firm has a 50 day moving average of $33.48 and a two-hundred day moving average of $35.17.

Helmerich & Payne Announces Dividend

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 2.95%. Helmerich & Payne’s dividend payout ratio is presently 29.07%.

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.