Aptus Capital Advisors LLC Increases Holdings in Helmerich & Payne, Inc. (NYSE:HP)

Aptus Capital Advisors LLC increased its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 24.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 116,236 shares of the oil and gas company’s stock after acquiring an additional 23,025 shares during the period. Aptus Capital Advisors LLC’s holdings in Helmerich & Payne were worth $4,201,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Helmerich & Payne by 937.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 841,724 shares of the oil and gas company’s stock valued at $30,487,000 after purchasing an additional 760,554 shares during the last quarter. ARGA Investment Management LP boosted its stake in Helmerich & Payne by 497.3% during the fourth quarter. ARGA Investment Management LP now owns 887,116 shares of the oil and gas company’s stock valued at $32,131,000 after buying an additional 738,594 shares during the last quarter. LSV Asset Management grew its holdings in Helmerich & Payne by 11,750.0% during the 4th quarter. LSV Asset Management now owns 568,800 shares of the oil and gas company’s stock valued at $20,602,000 after buying an additional 564,000 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in Helmerich & Payne in the 4th quarter worth approximately $15,367,000. Finally, Global Alpha Capital Management Ltd. increased its stake in Helmerich & Payne by 28.1% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 716,591 shares of the oil and gas company’s stock worth $25,955,000 after acquiring an additional 157,100 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Wall Street Analysts Forecast Growth

HP has been the subject of a number of recent research reports. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a report on Monday, August 5th. Bank of America dropped their price objective on shares of Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Royal Bank of Canada upped their target price on shares of Helmerich & Payne from $48.00 to $50.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. 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 report on Monday, July 15th. Finally, Evercore ISI raised Helmerich & Payne to a “strong-buy” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $42.00.

Helmerich & Payne Stock Down 1.7 %

Shares of HP stock traded down $0.56 during mid-day trading on Friday, hitting $32.63. 1,925,331 shares of the stock traded hands, compared to its average volume of 1,175,268. The stock’s fifty day moving average is $36.02 and its two-hundred day moving average is $37.96. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.12 and a quick ratio of 1.87. Helmerich & Payne, Inc. has a 52-week low of $31.98 and a 52-week high of $46.55. The stock has a market cap of $3.22 billion, a P/E ratio of 9.32, a P/E/G ratio of 3.50 and a beta of 1.47.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.77 by $0.15. Helmerich & Payne had a net margin of 12.72% and a return on equity of 12.39%. The firm had revenue of $697.70 million during the quarter, compared to analyst estimates of $670.78 million. During the same period last year, the firm posted $1.09 EPS. Helmerich & Payne’s revenue was down 3.6% on a year-over-year basis. Equities analysts predict that Helmerich & Payne, Inc. will post 3.56 EPS for the current year.

Helmerich & Payne Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a $0.25 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.00 dividend on an annualized basis and a yield of 3.06%. Helmerich & Payne’s dividend payout ratio is currently 28.57%.

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.