Capital Investment Counsel Inc Raises Stock Holdings in Helmerich & Payne, Inc. (NYSE:HP)

Capital Investment Counsel Inc increased its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 4.4% in the fourth quarter, HoldingsChannel reports. The firm owned 80,630 shares of the oil and gas company’s stock after buying an additional 3,405 shares during the period. Capital Investment Counsel Inc’s holdings in Helmerich & Payne were worth $2,582,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Kestra Investment Management LLC purchased a new stake in shares of Helmerich & Payne during the 4th quarter worth $27,000. Covestor Ltd raised its stake in Helmerich & Payne by 76.9% in the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 643 shares during the last quarter. Blue Trust Inc. raised its stake in Helmerich & Payne by 127.8% in the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock valued at $46,000 after buying an additional 854 shares during the last quarter. Quarry LP purchased a new stake in Helmerich & Payne in the third quarter valued at about $48,000. Finally, Eastern Bank purchased a new stake in Helmerich & Payne in the third quarter valued at about $61,000. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Helmerich & Payne Stock Up 5.5 %

Shares of HP stock opened at $27.13 on Friday. The stock’s 50-day simple moving average is $31.74 and its 200-day simple moving average is $32.97. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81. The firm has a market capitalization of $2.70 billion, a PE ratio of 8.92, a P/E/G ratio of 3.39 and a beta of 1.37. Helmerich & Payne, Inc. has a fifty-two week low of $25.69 and a fifty-two week high of $44.11.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. Equities analysts expect that Helmerich & Payne, Inc. will post 2.95 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.69%. The ex-dividend date is Friday, February 14th. Helmerich & Payne’s dividend payout ratio (DPR) is 32.89%.

Insider Buying and Selling

In other Helmerich & Payne news, Director Belgacem Chariag acquired 37,356 shares of the company’s stock in a transaction on Monday, February 10th. The shares were bought at an average cost of $27.08 per share, with a total value of $1,011,600.48. Following the completion of the acquisition, the director now owns 54,606 shares in the company, valued at approximately $1,478,730.48. This trade represents a 216.56 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John W. Lindsay acquired 20,000 shares of the company’s stock in a transaction on Monday, February 10th. The stock was acquired at an average cost of $27.55 per share, for a total transaction of $551,000.00. Following the completion of the acquisition, the chief executive officer now owns 691,214 shares of the company’s stock, valued at $19,042,945.70. This trade represents a 2.98 % increase in their position. The disclosure for this purchase can be found here. 4.51% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

HP has been the subject of a number of research analyst reports. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Evercore ISI reiterated an “in-line” rating and issued a $39.00 price target (down from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Barclays decreased their price target on Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday. Citigroup raised Helmerich & Payne from a “neutral” rating to a “buy” rating and increased their price objective for the company from $33.00 to $40.00 in a report on Friday, January 10th. Finally, Royal Bank of Canada cut their price objective on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Helmerich & Payne presently has an average rating of “Hold” and a consensus target price of $37.25.

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.