Arrowstreet Capital Limited Partnership Buys 71,317 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Arrowstreet Capital Limited Partnership boosted its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 77.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 163,946 shares of the oil and gas company’s stock after acquiring an additional 71,317 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.16% of Helmerich & Payne worth $5,250,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Cerity Partners LLC boosted its position in shares of Helmerich & Payne by 67.9% during the 3rd quarter. Cerity Partners LLC now owns 13,957 shares of the oil and gas company’s stock valued at $425,000 after acquiring an additional 5,642 shares in the last quarter. FMR LLC boosted its holdings in Helmerich & Payne by 510.7% during the third quarter. FMR LLC now owns 140,655 shares of the oil and gas company’s stock valued at $4,279,000 after purchasing an additional 117,624 shares in the last quarter. Verition Fund Management LLC boosted its holdings in Helmerich & Payne by 110.3% during the third quarter. Verition Fund Management LLC now owns 22,341 shares of the oil and gas company’s stock valued at $680,000 after purchasing an additional 11,719 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Helmerich & Payne by 9.6% in the 3rd quarter. Janus Henderson Group PLC now owns 74,590 shares of the oil and gas company’s stock valued at $2,269,000 after purchasing an additional 6,508 shares during the period. Finally, Quarry LP acquired a new position in shares of Helmerich & Payne in the 3rd quarter worth approximately $48,000. Institutional investors and hedge funds own 96.05% of the company’s stock.

Insider Buying and Selling at Helmerich & Payne

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on HP. Barclays lowered their price target 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. Morgan Stanley reiterated an “underweight” rating and set a $27.00 target price on shares of Helmerich & Payne in a research report on Thursday, March 27th. Royal Bank of Canada reduced their price target on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Citigroup raised shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $33.00 to $40.00 in a report on Friday, January 10th. Finally, Evercore ISI reissued an “in-line” rating and issued a $39.00 target price (down from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $36.11.

Helmerich & Payne Stock Up 1.1 %

NYSE HP opened at $20.04 on Tuesday. The stock has a market capitalization of $1.99 billion, a P/E ratio of 6.59, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00. Helmerich & Payne, Inc. has a 52 week low of $18.59 and a 52 week high of $44.11. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81. The stock has a fifty day moving average of $26.61 and a 200-day moving average of $31.31.

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

Helmerich & Payne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.00 annualized dividend and a yield of 4.99%. Helmerich & Payne’s dividend payout ratio is currently 32.89%.

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.