Moran Wealth Management LLC Acquires 2,352 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Moran Wealth Management LLC grew its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 4.2% in the second quarter, HoldingsChannel.com reports. The fund owned 58,561 shares of the oil and gas company’s stock after purchasing an additional 2,352 shares during the period. Moran Wealth Management LLC’s holdings in Helmerich & Payne were worth $2,076,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of HP. Rockefeller Capital Management L.P. boosted its position in shares of Helmerich & Payne by 221.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 533 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 367 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new stake in Helmerich & Payne in the 1st quarter worth approximately $31,000. Quarry LP bought a new stake in Helmerich & Payne in the 1st quarter worth approximately $43,000. Coppell Advisory Solutions Corp. bought a new stake in Helmerich & Payne in the 4th quarter worth approximately $45,000. Finally, Park Place Capital Corp bought a new stake in Helmerich & Payne in the 1st quarter worth approximately $48,000. Institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Price Performance

Shares of HP stock opened at $38.45 on Tuesday. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of 9.24 and a beta of 1.69. The business’s fifty day moving average is $41.29 and its 200 day moving average is $38.85. Helmerich & Payne, Inc. has a twelve month low of $30.41 and a twelve month high of $54.45. The company has a quick ratio of 2.18, a current ratio of 2.40 and a debt-to-equity ratio of 0.20.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Thursday, November 9th. The oil and gas company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.03). The firm had revenue of $659.61 million during the quarter, compared to analysts’ expectations of $662.17 million. Helmerich & Payne had a return on equity of 15.76% and a net margin of 15.11%. Helmerich & Payne’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 earnings per share. Research analysts expect that Helmerich & Payne, Inc. will post 3.13 EPS for the current fiscal year.

Helmerich & Payne Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Investors of record on Monday, November 20th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 17th. This represents a $1.00 annualized dividend and a yield of 2.60%. Helmerich & Payne’s payout ratio is 24.04%.

Insiders Place Their Bets

In other Helmerich & Payne news, Director Hans Helmerich sold 25,627 shares of the business’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $42.46, for a total value of $1,088,122.42. Following the sale, the director now directly owns 1,340,288 shares of the company’s stock, valued at $56,908,628.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Helmerich & Payne news, SVP Raymond John Adams III sold 6,000 shares of the business’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $42.48, for a total value of $254,880.00. Following the sale, the senior vice president now directly owns 71,525 shares of the company’s stock, valued at $3,038,382. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Hans Helmerich sold 25,627 shares of the business’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $42.46, for a total value of $1,088,122.42. Following the completion of the sale, the director now directly owns 1,340,288 shares in the company, valued at $56,908,628.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,127 shares of company stock valued at $1,455,502. 4.16% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

HP has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their target price on Helmerich & Payne from $33.00 to $37.00 and gave the stock a “sell” rating in a research report on Wednesday, August 9th. Atb Cap Markets cut Helmerich & Payne from an “outperform” rating to a “sector perform” rating in a research note on Thursday, November 16th. Morgan Stanley lifted their price target on Helmerich & Payne from $42.00 to $44.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 17th. StockNews.com cut Helmerich & Payne from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Citigroup lifted their price target on Helmerich & Payne from $38.00 to $42.00 in a research note on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Helmerich & Payne presently has an average rating of “Hold” and an average target price of $47.70.

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.