Edgestream Partners L.P. Makes New $3.41 Million Investment in Helmerich & Payne, Inc. (NYSE:HP)

Edgestream Partners L.P. bought a new position in Helmerich & Payne, Inc. (NYSE:HP) in the 3rd quarter, HoldingsChannel.com reports. The fund bought 112,107 shares of the oil and gas company’s stock, valued at approximately $3,410,000.

Several other hedge funds and other institutional investors have also bought and sold shares of HP. Covestor Ltd lifted its position in Helmerich & Payne by 76.9% in the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock valued at $45,000 after purchasing an additional 643 shares during the last quarter. Blue Trust Inc. lifted its position in Helmerich & Payne by 127.8% in the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 854 shares during the last quarter. Headlands Technologies LLC lifted its position in Helmerich & Payne by 96.9% in the second quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company’s stock valued at $56,000 after purchasing an additional 757 shares during the last quarter. Eastern Bank bought a new stake in Helmerich & Payne in the third quarter valued at approximately $61,000. Finally, KBC Group NV lifted its position in Helmerich & Payne by 20.3% in the third quarter. KBC Group NV now owns 3,130 shares of the oil and gas company’s stock valued at $95,000 after purchasing an additional 529 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Price Performance

Shares of Helmerich & Payne stock opened at $34.63 on Monday. The company has a quick ratio of 2.40, a current ratio of 2.67 and a debt-to-equity ratio of 0.61. The company has a market cap of $3.42 billion, a PE ratio of 10.07, a P/E/G ratio of 4.12 and a beta of 1.40. The business has a 50 day moving average of $34.16 and a 200 day moving average of $34.86. Helmerich & Payne, Inc. has a 52 week low of $29.46 and a 52 week high of $44.11.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.76. The business had revenue of $693.79 million during the quarter, compared to the consensus estimate of $695.99 million. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 earnings per share. As a group, equities research analysts forecast that Helmerich & Payne, Inc. will post 3.21 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $0.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.89%. Helmerich & Payne’s dividend payout ratio (DPR) is 29.07%.

Analyst Ratings Changes

HP has been the subject of several recent research reports. Barclays lowered their price objective on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 20th. The Goldman Sachs Group lowered their price objective on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a research report on Thursday, August 29th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. Citigroup decreased their target price on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Finally, Royal Bank of Canada decreased their target price on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating for the company in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $38.57.

Helmerich & Payne 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.