Quarry LP Buys Shares of 1,589 Helmerich & Payne, Inc. (NYSE:HP)

Quarry LP purchased a new stake in shares of Helmerich & Payne, Inc. (NYSE:HP) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,589 shares of the oil and gas company’s stock, valued at approximately $48,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in Helmerich & Payne by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,576,795 shares of the oil and gas company’s stock worth $201,543,000 after purchasing an additional 176,179 shares during the period. Pacer Advisors Inc. raised its stake in shares of Helmerich & Payne by 9.4% in the second quarter. Pacer Advisors Inc. now owns 3,826,851 shares of the oil and gas company’s stock worth $138,302,000 after buying an additional 327,802 shares during the period. Earnest Partners LLC raised its stake in shares of Helmerich & Payne by 15.7% in the second quarter. Earnest Partners LLC now owns 3,469,609 shares of the oil and gas company’s stock worth $125,392,000 after buying an additional 471,420 shares during the period. Boston Trust Walden Corp lifted its position in shares of Helmerich & Payne by 1.3% during the 2nd quarter. Boston Trust Walden Corp now owns 2,222,477 shares of the oil and gas company’s stock valued at $80,320,000 after buying an additional 27,660 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Helmerich & Payne by 38.1% during the 2nd quarter. American Century Companies Inc. now owns 1,862,362 shares of the oil and gas company’s stock valued at $67,306,000 after acquiring an additional 513,647 shares during the period. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Performance

NYSE HP opened at $33.89 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.67 and a quick ratio of 2.40. Helmerich & Payne, Inc. has a 1-year low of $29.46 and a 1-year high of $44.11. The business has a 50 day simple moving average of $34.62 and a two-hundred day simple moving average of $34.66. The stock has a market capitalization of $3.35 billion, a PE ratio of 9.85, a P/E/G ratio of 4.07 and a beta of 1.39.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.76. The firm had revenue of $693.79 million during the quarter, compared to analyst estimates of $695.99 million. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. Helmerich & Payne’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $0.69 earnings per share. On average, research analysts predict that Helmerich & Payne, Inc. will post 3.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Barclays lowered their price target on shares of Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 20th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. The Goldman Sachs Group lowered their price objective on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research report on Thursday, August 29th. Citigroup cut their target price on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Finally, Royal Bank of Canada lowered their price target on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $38.57.

Helmerich & Payne Profile

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.