State Farm Mutual Automobile Insurance Co. continued to hold its stake in Helmerich & Payne, Inc. (NYSE:HP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,257,200 shares of the oil and gas company’s stock at the close of the 2nd quarter. State Farm Mutual Automobile Insurance Co. owned about 7.61% of Helmerich & Payne worth $448,696,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Aberdeen Asset Management PLC UK raised its holdings in shares of Helmerich & Payne by 30.9% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 240,924 shares of the oil and gas company’s stock worth $13,092,000 after buying an additional 56,933 shares in the last quarter. HPM Partners LLC raised its holdings in shares of Helmerich & Payne by 1,329.9% in the 2nd quarter. HPM Partners LLC now owns 83,418 shares of the oil and gas company’s stock worth $2,555,000 after buying an additional 77,584 shares in the last quarter. Twin Tree Management LP acquired a new position in shares of Helmerich & Payne in the 2nd quarter worth approximately $470,000. Systematic Financial Management LP increased its holdings in Helmerich & Payne by 14,482.4% during the 2nd quarter. Systematic Financial Management LP now owns 134,887 shares of the oil and gas company’s stock valued at $7,330,000 after purchasing an additional 133,962 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Helmerich & Payne by 45.6% during the 2nd quarter. Wells Fargo & Company MN now owns 554,991 shares of the oil and gas company’s stock valued at $30,158,000 after purchasing an additional 173,791 shares in the last quarter.
In other news, CEO John W. Lindsay bought 5,000 shares of the stock in a transaction dated Tuesday, September 12th. The stock was bought at an average cost of $47.73 per share, with a total value of $238,650.00. Following the purchase, the chief executive officer now owns 147,727 shares of the company’s stock, valued at $7,051,009.71. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 3.90% of the stock is currently owned by company insiders.
A number of research firms recently weighed in on HP. J P Morgan Chase & Co dropped their price target on Helmerich & Payne from $44.00 to $38.00 and set an “underweight” rating for the company in a report on Tuesday. Royal Bank Of Canada reissued a “sector perform” rating and issued a $53.00 target price (down from $65.00) on shares of Helmerich & Payne in a research note on Friday, September 8th. Sanford C. Bernstein restated an “outperform” rating and issued a $66.00 price target on shares of Helmerich & Payne in a research report on Wednesday, September 6th. Societe Generale initiated coverage on Helmerich & Payne in a research report on Thursday, August 31st. They issued a “hold” rating and a $46.00 price target on the stock. Finally, Cowen and Company restated a “hold” rating and issued a $50.00 price target on shares of Helmerich & Payne in a research report on Friday, August 11th. Eight investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $57.96.
Helmerich & Payne, Inc. (NYSE HP) traded down 0.10% during mid-day trading on Friday, reaching $49.73. The company had a trading volume of 565,457 shares. Helmerich & Payne, Inc. has a 12-month low of $42.16 and a 12-month high of $85.78. The firm has a 50-day moving average price of $46.25 and a 200 day moving average price of $56.65. The firm’s market capitalization is $5.40 billion.
Helmerich & Payne (NYSE:HP) last posted its earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.05. The business had revenue of $498.60 million during the quarter, compared to the consensus estimate of $452.42 million. Helmerich & Payne had a negative return on equity of 3.37% and a negative net margin of 11.19%. Helmerich & Payne’s revenue was up 36.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.20) EPS. Analysts expect that Helmerich & Payne, Inc. will post ($1.30) EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, November 13th will be issued a dividend of $0.70 per share. The ex-dividend date is Friday, November 10th. This represents a $2.80 dividend on an annualized basis and a yield of 5.63%. Helmerich & Payne’s dividend payout ratio is -167.66%.
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Helmerich & Payne Profile
Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.
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