Gibraltar Capital Management Inc. Takes Position in Helmerich & Payne, Inc. (NYSE:HP)

Gibraltar Capital Management Inc. purchased a new position in shares of Helmerich & Payne, Inc. (NYSE:HP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,845 shares of the oil and gas company’s stock, valued at approximately $219,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D increased its holdings in Helmerich & Payne by 18.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 58,634 shares of the oil and gas company’s stock valued at $1,784,000 after purchasing an additional 9,004 shares in the last quarter. Legato Capital Management LLC raised its holdings in shares of Helmerich & Payne by 93.9% in the fourth quarter. Legato Capital Management LLC now owns 76,064 shares of the oil and gas company’s stock valued at $2,436,000 after buying an additional 36,828 shares during the last quarter. Petrus Trust Company LTA acquired a new position in Helmerich & Payne during the 3rd quarter worth about $619,000. Hara Capital LLC grew its holdings in Helmerich & Payne by 519.3% during the 4th quarter. Hara Capital LLC now owns 61,114 shares of the oil and gas company’s stock worth $1,957,000 after acquiring an additional 51,245 shares during the last quarter. Finally, FMR LLC raised its position in shares of Helmerich & Payne by 510.7% during the third quarter. FMR LLC now owns 140,655 shares of the oil and gas company’s stock worth $4,279,000 after acquiring an additional 117,624 shares during the last quarter. 96.05% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Helmerich & Payne

In other news, Director Belgacem Chariag bought 37,356 shares of Helmerich & Payne stock in a transaction dated Monday, February 10th. The stock was bought at an average cost of $27.08 per share, for a total transaction of $1,011,600.48. Following the purchase, the director now directly owns 54,606 shares in the company, valued at approximately $1,478,730.48. This represents a 216.56 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John W. Lindsay acquired 20,000 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were bought at an average cost of $27.55 per share, with a total value of $551,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 691,214 shares in the company, valued at approximately $19,042,945.70. This represents a 2.98 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 4.51% of the company’s stock.

Helmerich & Payne Stock Performance

NYSE HP opened at $26.88 on Wednesday. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 3.52 and a beta of 1.37. Helmerich & Payne, Inc. has a twelve month low of $25.69 and a twelve month high of $44.11. The stock has a fifty day simple moving average of $31.37 and a 200 day simple moving average of $32.80. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (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%. Sell-side analysts expect that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.00 dividend on an annualized basis and a yield of 3.72%. Helmerich & Payne’s dividend payout ratio (DPR) is currently 32.89%.

Wall Street Analysts Forecast Growth

Several analysts have commented on HP shares. Argus upgraded shares of Helmerich & Payne to a “hold” rating in a report on Tuesday, February 11th. Evercore ISI reaffirmed an “in-line” rating and set a $39.00 price target (down from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Barclays cut their price target on shares of Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada lowered their price objective on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. Finally, Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $37.25.

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.