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%.
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.
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