Quantbot Technologies LP Raises Stake in Helmerich & Payne, Inc. (NYSE:HP)

Quantbot Technologies LP boosted its position in Helmerich & Payne, Inc. (NYSE:HP) by 3,222.9% during the second quarter, HoldingsChannel reports. The fund owned 111,584 shares of the oil and gas company’s stock after buying an additional 108,226 shares during the quarter. Quantbot Technologies LP’s holdings in Helmerich & Payne were worth $4,033,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HP. International Assets Investment Management LLC bought a new stake in Helmerich & Payne in the 4th quarter valued at about $318,000. Charles Schwab Investment Management Inc. increased its position in shares of Helmerich & Payne by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 910,432 shares of the oil and gas company’s stock valued at $32,976,000 after buying an additional 21,490 shares during the period. Principal Securities Inc. bought a new stake in shares of Helmerich & Payne during the fourth quarter valued at about $35,000. Teacher Retirement System of Texas increased its position in shares of Helmerich & Payne by 26.4% during the fourth quarter. Teacher Retirement System of Texas now owns 10,212 shares of the oil and gas company’s stock valued at $370,000 after buying an additional 2,132 shares during the period. Finally, Quadrant Capital Group LLC increased its position in shares of Helmerich & Payne by 12.7% during the fourth quarter. Quadrant Capital Group LLC now owns 5,548 shares of the oil and gas company’s stock valued at $201,000 after buying an additional 625 shares during the period. 96.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on HP shares. Royal Bank of Canada upped their price target on Helmerich & Payne from $48.00 to $50.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. The Goldman Sachs Group decreased their price objective on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research report on Thursday, August 29th. Evercore ISI upgraded shares of Helmerich & Payne to a “strong-buy” rating in a research report on Friday, July 26th. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research report on Monday, August 5th. Finally, Piper Sandler decreased their price objective on shares of Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $40.88.

Helmerich & Payne Stock Up 3.5 %

Shares of HP opened at $30.89 on Tuesday. The firm has a market cap of $3.05 billion, a P/E ratio of 8.83, a P/E/G ratio of 3.29 and a beta of 1.42. The stock has a 50 day simple moving average of $34.99 and a two-hundred day simple moving average of $37.36. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.12 and a quick ratio of 1.87. Helmerich & Payne, Inc. has a 1 year low of $29.46 and a 1 year high of $46.24.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.15. The business had revenue of $697.70 million during the quarter, compared to analyst estimates of $670.78 million. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. Helmerich & Payne’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.09 earnings per share. On average, analysts forecast that Helmerich & Payne, Inc. will post 3.57 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date is Monday, November 18th. Helmerich & Payne’s dividend payout ratio (DPR) is presently 28.57%.

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.