Public Employees Retirement Association of Colorado decreased its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 18.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,706 shares of the oil and gas company’s stock after selling 3,873 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Helmerich & Payne were worth $928,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in HP. Millennium Management LLC grew its holdings in shares of Helmerich & Payne by 3,372.6% in the fourth quarter. Millennium Management LLC now owns 2,322,923 shares of the oil and gas company’s stock valued at $111,361,000 after purchasing an additional 2,256,030 shares during the period. Norges Bank purchased a new stake in shares of Helmerich & Payne in the fourth quarter valued at about $45,764,000. Rothschild & Co. Asset Management US Inc. purchased a new stake in shares of Helmerich & Payne in the fourth quarter valued at about $34,483,000. Thornburg Investment Management Inc. purchased a new stake in shares of Helmerich & Payne in the fourth quarter valued at about $23,586,000. Finally, Two Sigma Advisers LP grew its holdings in shares of Helmerich & Payne by 151.1% in the fourth quarter. Two Sigma Advisers LP now owns 493,593 shares of the oil and gas company’s stock valued at $23,663,000 after purchasing an additional 297,036 shares during the period. 94.10% of the stock is owned by institutional investors and hedge funds.
HP has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a research report on Tuesday, April 2nd. TheStreet raised shares of Helmerich & Payne from a “c” rating to a “b-” rating in a research report on Wednesday, April 24th. Jefferies Financial Group cut shares of Helmerich & Payne from a “buy” rating to a “hold” rating and decreased their target price for the company from $64.00 to $56.00 in a research report on Friday, March 15th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $62.00 target price on shares of Helmerich & Payne in a research report on Tuesday, February 5th. Finally, Macquarie set a $45.00 target price on shares of Helmerich & Payne and gave the company a “sell” rating in a research report on Tuesday, February 5th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $66.47.
Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.18. The business had revenue of $720.87 million for the quarter, compared to analysts’ expectations of $712.29 million. Helmerich & Payne had a net margin of 2.65% and a return on equity of 2.95%. The business’s quarterly revenue was up 24.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) earnings per share. As a group, analysts predict that Helmerich & Payne, Inc. will post 1.69 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 13th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, May 10th. This represents a $2.84 annualized dividend and a dividend yield of 4.99%. Helmerich & Payne’s dividend payout ratio is presently 2,028.57%.
Helmerich & Payne 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.
Further Reading: Straddles
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