Rhumbline Advisers Grows Stake in Helmerich & Payne, Inc. (NYSE:HP)

Rhumbline Advisers lifted its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 0.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 307,272 shares of the oil and gas company’s stock after acquiring an additional 1,611 shares during the period. Rhumbline Advisers’ holdings in Helmerich & Payne were worth $9,839,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. ARGA Investment Management LP boosted its stake in Helmerich & Payne by 42.5% in the fourth quarter. ARGA Investment Management LP now owns 2,686,215 shares of the oil and gas company’s stock valued at $86,013,000 after acquiring an additional 801,000 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Helmerich & Payne by 27.7% in the 4th quarter. Van ECK Associates Corp now owns 1,522,144 shares of the oil and gas company’s stock valued at $48,739,000 after purchasing an additional 329,734 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in Helmerich & Payne by 1,241.0% during the 3rd 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 during the last quarter. The Manufacturers Life Insurance Company grew its stake in Helmerich & Payne by 18.0% during the 3rd 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 buying an additional 177,023 shares during the last quarter. Finally, Barclays PLC increased its position in Helmerich & Payne by 320.2% during the third quarter. Barclays PLC now owns 198,415 shares of the oil and gas company’s stock worth $6,035,000 after buying an additional 151,196 shares during the period. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Insider Transactions at Helmerich & Payne

In other news, CEO John W. Lindsay purchased 20,000 shares of the stock in a transaction dated Monday, February 10th. The stock was acquired at an average cost of $27.55 per share, for a total transaction of $551,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 691,214 shares in the company, valued at $19,042,945.70. This represents a 2.98 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Belgacem Chariag acquired 37,356 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was purchased at an average cost of $27.08 per share, with a total value of $1,011,600.48. Following the transaction, the director now owns 54,606 shares of the company’s stock, valued at approximately $1,478,730.48. The trade was a 216.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 4.51% of the company’s stock.

Helmerich & Payne Price Performance

Helmerich & Payne stock opened at $27.63 on Tuesday. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60. The firm’s 50-day simple moving average is $31.49 and its 200 day simple moving average is $32.85. Helmerich & Payne, Inc. has a 52 week low of $25.69 and a 52 week high of $44.11. The firm has a market capitalization of $2.75 billion, a PE ratio of 9.09, a P/E/G ratio of 3.52 and a beta of 1.37.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. On average, equities research analysts predict that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Friday, February 14th. Helmerich & Payne’s payout ratio is 32.89%.

Analyst Ratings Changes

HP has been the subject of several research analyst reports. Evercore ISI reissued 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. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. Royal Bank of Canada dropped their target price on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Citigroup raised shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and increased their price target for the stock from $33.00 to $40.00 in a report on Friday, January 10th. Finally, Argus raised Helmerich & Payne to a “hold” rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Helmerich & Payne has an average rating of “Hold” and a consensus target price of $37.25.

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.