Wedge Capital Management L L P NC Has $5.48 Million Position in Helmerich & Payne, Inc. (NYSE:HP)

Wedge Capital Management L L P NC trimmed its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 4.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 180,008 shares of the oil and gas company’s stock after selling 8,394 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Helmerich & Payne were worth $5,476,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in Helmerich & Payne during the first quarter worth about $33,000. Hexagon Capital Partners LLC raised its position in Helmerich & Payne by 514.4% during the first quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 787 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Helmerich & Payne by 253.4% in the 1st quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 674 shares in the last quarter. Whittier Trust Co. boosted its holdings in shares of Helmerich & Payne by 94.9% in the 1st quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 595 shares in the last quarter. Finally, Creekmur Asset Management LLC acquired a new position in shares of Helmerich & Payne during the 4th quarter worth $60,000. Institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Price Performance

Shares of HP opened at $35.99 on Tuesday. The firm has a market cap of $3.55 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 3.80 and a beta of 1.42. Helmerich & Payne, Inc. has a 52-week low of $29.46 and a 52-week high of $44.80. The business’s 50 day moving average price is $32.79 and its two-hundred day moving average price is $36.32. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.87 and a current ratio of 2.12.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.15. Helmerich & Payne had a net margin of 12.72% and a return on equity of 12.39%. The company had revenue of $697.70 million for the quarter, compared to the consensus estimate of $670.78 million. During the same quarter in the previous year, the company earned $1.09 EPS. Helmerich & Payne’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities analysts anticipate that Helmerich & Payne, Inc. will post 3.48 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Monday, November 18th. Helmerich & Payne’s dividend payout ratio (DPR) is currently 28.57%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. The Goldman Sachs Group reduced their price objective on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th. Evercore ISI raised shares of Helmerich & Payne to a “strong-buy” rating in a research note on Friday, July 26th. Citigroup decreased their target price on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Piper Sandler dropped their price target on Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Finally, Royal Bank of Canada boosted their price objective on Helmerich & Payne from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $40.88.

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.