Cibc World Markets Corp Acquires Shares of 9,046 Helmerich & Payne, Inc. (NYSE:HP)

Cibc World Markets Corp bought a new position in shares of Helmerich & Payne, Inc. (NYSE:HP) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 9,046 shares of the oil and gas company’s stock, valued at approximately $290,000.

Other institutional investors have also made changes to their positions in the company. ARGA Investment Management LP lifted its holdings in Helmerich & Payne by 42.5% during the 4th 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 purchasing an additional 801,000 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Helmerich & Payne by 27.7% during the 4th quarter. Van ECK Associates Corp now owns 1,522,144 shares of the oil and gas company’s stock worth $48,739,000 after buying an additional 329,734 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of 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 period. Barclays PLC boosted its holdings in shares of Helmerich & Payne by 320.2% during the 3rd 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. Finally, BNP Paribas Financial Markets grew its stake in Helmerich & Payne by 116.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 242,515 shares of the oil and gas company’s stock valued at $7,377,000 after buying an additional 130,455 shares during the last quarter. 96.05% of the stock is owned by institutional investors and hedge funds.

Helmerich & Payne Stock Up 2.6 %

HP stock opened at $25.46 on Tuesday. Helmerich & Payne, Inc. has a 52 week low of $23.80 and a 52 week high of $44.11. The business has a 50-day simple moving average of $28.87 and a 200 day simple moving average of $31.77. 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 company has a market cap of $2.53 billion, a PE ratio of 8.37, a price-to-earnings-growth ratio of 3.52 and a beta of 1.42.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 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%. Sell-side analysts anticipate that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.93%. The ex-dividend date is Thursday, May 15th. Helmerich & Payne’s payout ratio is presently 32.89%.

Insider Buying and Selling at Helmerich & Payne

In related news, CEO John W. Lindsay acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average price of $27.55 per share, with a total value of $551,000.00. Following the purchase, the chief executive officer now directly owns 691,214 shares in the company, valued at approximately $19,042,945.70. This trade represents a 2.98 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Belgacem Chariag bought 37,356 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were bought at an average cost of $27.08 per share, for a total transaction of $1,011,600.48. Following the purchase, 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 position. The disclosure for this purchase can be found here. Company insiders own 4.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HP. Argus upgraded shares of Helmerich & Payne to a “hold” rating in a research report on Tuesday, February 11th. Evercore ISI restated an “in-line” rating and issued a $39.00 price target (down from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Barclays lowered their price objective on Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Royal Bank of Canada reduced their target price on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Finally, 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. 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, the company has an average rating of “Hold” and an average price target of $37.25.

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.