Helmerich & Payne, Inc. (NYSE:HP) Stock Holdings Increased by Global Alpha Capital Management Ltd.

Global Alpha Capital Management Ltd. raised its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 18.7% during the 3rd quarter, Holdings Channel reports. The fund owned 880,781 shares of the oil and gas company’s stock after purchasing an additional 138,590 shares during the period. Helmerich & Payne makes up approximately 1.7% of Global Alpha Capital Management Ltd.’s portfolio, making the stock its 26th largest holding. Global Alpha Capital Management Ltd.’s holdings in Helmerich & Payne were worth $26,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC increased its position in shares of Helmerich & Payne by 48.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,533 shares of the oil and gas company’s stock valued at $443,000 after purchasing an additional 3,416 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Helmerich & Payne by 16.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 33,184 shares of the oil and gas company’s stock valued at $1,396,000 after purchasing an additional 4,650 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Helmerich & Payne during the 1st quarter valued at $208,000. Covestor Ltd increased its position in shares of Helmerich & Payne by 253.4% during 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 during the period. Finally, O Shaughnessy Asset Management LLC increased its position in shares of Helmerich & Payne by 112.9% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 20,386 shares of the oil and gas company’s stock valued at $857,000 after purchasing an additional 10,810 shares during the period. Institutional investors own 96.05% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on HP shares. The Goldman Sachs Group decreased their target price on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. Citigroup decreased their target price on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Royal Bank of Canada decreased their target price on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a report on Friday, November 15th. Evercore ISI upgraded Helmerich & Payne to a “strong-buy” rating in a report on Friday, July 26th. Finally, Barclays decreased their target price on Helmerich & Payne from $42.00 to $39.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $39.00.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $33.40 on Wednesday. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 9.71, a P/E/G ratio of 3.62 and a beta of 1.40. Helmerich & Payne, Inc. has a 1-year low of $29.46 and a 1-year high of $44.11. The company has a current ratio of 2.67, a quick ratio of 2.40 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $33.60 and its 200-day simple moving average is $35.05.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.76. The firm had revenue of $693.79 million during the quarter, compared to analysts’ expectations of $695.99 million. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 earnings per share. On average, sell-side analysts predict that Helmerich & Payne, Inc. will post 3.57 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.99%. Helmerich & Payne’s payout ratio is 29.07%.

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.