Waratah Capital Advisors Ltd. Invests $1.66 Million in Helmerich & Payne, Inc. (HP) Stock

Waratah Capital Advisors Ltd. purchased a new position in Helmerich & Payne, Inc. (NYSE:HP) during the 3rd quarter, Holdings Channel reports. The firm purchased 24,165 shares of the oil and gas company’s stock, valued at approximately $1,662,000.

A number of other institutional investors have also modified their holdings of the business. Russell Investments Group Ltd. increased its stake in Helmerich & Payne by 9.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 103,786 shares of the oil and gas company’s stock worth $7,145,000 after purchasing an additional 9,295 shares in the last quarter. Access Financial Services Inc. purchased a new position in Helmerich & Payne in the 3rd quarter worth about $261,000. Ferguson Wellman Capital Management Inc. increased its stake in Helmerich & Payne by 2.0% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 97,239 shares of the oil and gas company’s stock worth $6,687,000 after purchasing an additional 1,867 shares in the last quarter. First Trust Advisors LP increased its stake in Helmerich & Payne by 56.0% in the 3rd quarter. First Trust Advisors LP now owns 432,627 shares of the oil and gas company’s stock worth $29,752,000 after purchasing an additional 155,377 shares in the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its stake in Helmerich & Payne by 109.2% in the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 20,025 shares of the oil and gas company’s stock worth $1,376,000 after purchasing an additional 10,455 shares in the last quarter. Hedge funds and other institutional investors own 92.11% of the company’s stock.

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



In related news, Director Chapman Paula Marshall sold 11,309 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $65.13, for a total value of $736,555.17. Following the completion of the sale, the director now owns 14,874 shares of the company’s stock, valued at approximately $968,743.62. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO John W. Lindsay sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $70.00, for a total value of $2,100,000.00. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.

NYSE:HP opened at $62.67 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.57 and a current ratio of 2.97. Helmerich & Payne, Inc. has a fifty-two week low of $51.28 and a fifty-two week high of $75.02. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of -49.35 and a beta of 1.36.

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

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 12th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $2.84 annualized dividend and a yield of 4.53%. Helmerich & Payne’s dividend payout ratio (DPR) is presently -223.62%.

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.

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

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