Zurich Insurance Group Ltd FI Takes Position in Helmerich & Payne, Inc. (HP)

Zurich Insurance Group Ltd FI acquired a new position in shares of Helmerich & Payne, Inc. (NYSE:HP) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 22,787 shares of the oil and gas company’s stock, valued at approximately $1,238,000.

A number of other hedge funds have also recently modified their holdings of the stock. Ffcm LLC grew its position in shares of Helmerich & Payne by 409.2% in the second quarter. Ffcm LLC now owns 2,872 shares of the oil and gas company’s stock valued at $160,000 after purchasing an additional 2,308 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in shares of Helmerich & Payne in the first quarter valued at $172,000. AlphaMark Advisors LLC grew its position in shares of Helmerich & Payne by 3.1% in the second quarter. AlphaMark Advisors LLC now owns 3,326 shares of the oil and gas company’s stock valued at $181,000 after purchasing an additional 101 shares during the period. Marshall Wace North America L.P. purchased a new stake in shares of Helmerich & Payne in the first quarter valued at $209,000. Finally, Murphy Capital Management Inc. grew its position in shares of Helmerich & Payne by 2.6% in the second quarter. Murphy Capital Management Inc. now owns 4,000 shares of the oil and gas company’s stock valued at $217,000 after purchasing an additional 100 shares during the period.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.05. The firm had revenue of $498.60 million during the quarter, compared to the consensus estimate of $452.42 million. Helmerich & Payne had a negative net margin of 11.19% and a negative return on equity of 3.37%. The business’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.20) EPS.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, November 13th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date is Friday, November 10th. Helmerich & Payne’s dividend payout ratio (DPR) is presently -167.66%.

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A number of brokerages have recently commented on HP. Seaport Global Securities reaffirmed a “sell” rating on shares of Helmerich & Payne in a research report on Thursday, July 20th. Royal Bank Of Canada set a $80.00 target price on Helmerich & Payne and gave the company a “hold” rating in a report on Saturday, July 1st. Zacks Investment Research upgraded Helmerich & Payne from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Vetr upgraded Helmerich & Payne from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Monday, July 10th. Finally, Cowen and Company restated a “hold” rating and set a $50.00 price objective on shares of Helmerich & Payne in a research note on Friday, August 11th. Nine investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $54.27.

In other news, CEO John W. Lindsay purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was bought at an average price of $47.73 per share, with a total value of $238,650.00. Following the acquisition, the chief executive officer now owns 147,727 shares in the company, valued at approximately $7,051,009.71. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.23% of the company’s stock.

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.

Institutional Ownership by Quarter for Helmerich & Payne (NYSE:HP)

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