Access Financial Services Inc. Purchases New Stake in Helmerich & Payne, Inc. (HP)

Access Financial Services Inc. purchased a new stake in Helmerich & Payne, Inc. (NYSE:HP) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,800 shares of the oil and gas company’s stock, valued at approximately $261,000.

Several other large investors have also modified their holdings of the company. BlackRock Inc. grew its stake in shares of Helmerich & Payne by 1.4% in the second quarter. BlackRock Inc. now owns 10,092,572 shares of the oil and gas company’s stock worth $643,501,000 after acquiring an additional 135,102 shares during the last quarter. Bank of New York Mellon Corp grew its position in Helmerich & Payne by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,939,321 shares of the oil and gas company’s stock worth $187,411,000 after purchasing an additional 58,078 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Helmerich & Payne by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,737,350 shares of the oil and gas company’s stock worth $174,549,000 after purchasing an additional 40,868 shares during the last quarter. Van ECK Associates Corp grew its position in Helmerich & Payne by 0.3% in the 2nd quarter. Van ECK Associates Corp now owns 1,140,469 shares of the oil and gas company’s stock worth $72,716,000 after purchasing an additional 3,165 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Helmerich & Payne by 4.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 914,283 shares of the oil and gas company’s stock worth $58,295,000 after purchasing an additional 39,226 shares during the last quarter. 92.11% of the stock is currently owned by institutional investors.

Helmerich & Payne stock opened at $62.77 on Friday. The company has a current ratio of 2.97, a quick ratio of 2.57 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $7.12 billion, a price-to-earnings ratio of -49.43 and a beta of 1.36. Helmerich & Payne, Inc. has a 52 week low of $51.01 and a 52 week high of $75.02.



Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, July 25th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.04). The company had revenue of $648.87 million for the quarter, compared to analyst estimates of $617.06 million. Helmerich & Payne had a negative return on equity of 0.37% and a net margin of 19.70%. The firm’s quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.25) EPS. Research analysts anticipate that Helmerich & Payne, Inc. will post 0.1 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 12th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend is Thursday, November 8th. Helmerich & Payne’s dividend payout ratio is -223.62%.

A number of research firms recently weighed in on HP. ValuEngine downgraded Helmerich & Payne from a “buy” rating to a “hold” rating in a research report on Monday, July 16th. Zacks Investment Research raised Helmerich & Payne from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a research report on Tuesday, October 9th. B. Riley set a $83.00 target price on Helmerich & Payne and gave the stock a “buy” rating in a research report on Sunday, October 7th. JPMorgan Chase & Co. raised Helmerich & Payne from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $49.00 to $58.00 in a research report on Friday, September 14th. Finally, Wolfe Research initiated coverage on Helmerich & Payne in a report on Wednesday, October 10th. They set an “underperform” rating on the stock. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Helmerich & Payne currently has a consensus rating of “Hold” and a consensus target price of $71.63.

In other Helmerich & Payne news, CEO John W. Lindsay sold 30,000 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $70.00, for a total transaction of $2,100,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Chapman Paula Marshall sold 11,309 shares of the company’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $65.13, for a total transaction of $736,555.17. Following the transaction, the director now owns 14,874 shares in the company, valued at $968,743.62. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by corporate insiders.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.

Featured Story: Earnings Per Share (EPS) Explained

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

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