36,000 Shares in Helmerich & Payne, Inc. (NYSE:HP) Purchased by Private Capital Management LLC

Private Capital Management LLC bought a new stake in Helmerich & Payne, Inc. (NYSE:HP) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 36,000 shares of the oil and gas company’s stock, valued at approximately $1,095,000.

A number of other large investors also recently bought and sold shares of HP. State Street Corp raised its stake in shares of Helmerich & Payne by 0.8% in the 3rd quarter. State Street Corp now owns 4,182,972 shares of the oil and gas company’s stock valued at $127,246,000 after acquiring an additional 34,395 shares during the period. ARGA Investment Management LP raised its position in Helmerich & Payne by 42.5% in the fourth quarter. ARGA Investment Management LP now owns 2,686,215 shares of the oil and gas company’s stock valued at $86,013,000 after purchasing an additional 801,000 shares during the period. Geode Capital Management LLC raised its position in Helmerich & Payne by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,247,214 shares of the oil and gas company’s stock valued at $68,373,000 after purchasing an additional 22,875 shares during the period. Van ECK Associates Corp lifted its stake in Helmerich & Payne by 27.7% during the fourth quarter. Van ECK Associates Corp now owns 1,522,144 shares of the oil and gas company’s stock worth $48,739,000 after purchasing an additional 329,734 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Helmerich & Payne by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,504,654 shares of the oil and gas company’s stock worth $45,772,000 after buying an additional 49,982 shares during the period. Institutional investors and hedge funds own 96.05% of the company’s stock.

Insider Activity at Helmerich & Payne

In related news, Director Belgacem Chariag acquired 37,356 shares of the business’s stock in a transaction on Monday, February 10th. The shares were bought at an average price 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 $1,478,730.48. This trade represents a 216.56 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John W. Lindsay acquired 20,000 shares of Helmerich & Payne stock in a transaction dated Monday, February 10th. The shares were bought at an average price of $27.55 per share, with a total value of $551,000.00. Following the transaction, the chief executive officer now directly owns 691,214 shares in the company, valued at approximately $19,042,945.70. The trade was a 2.98 % increase in their position. The disclosure for this purchase can be found here. 4.51% of the stock is currently owned by corporate insiders.

Helmerich & Payne Stock Performance

Shares of Helmerich & Payne stock opened at $26.36 on Friday. The business has a 50-day simple moving average of $31.20 and a 200-day simple moving average of $32.71. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81. Helmerich & Payne, Inc. has a one year low of $25.69 and a one year high of $44.11. The company has a market cap of $2.62 billion, a PE ratio of 8.67, a P/E/G ratio of 3.52 and a beta of 1.37.

Helmerich & Payne (NYSE:HP) last posted its quarterly 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 net margin of 11.02% and a return on equity of 11.31%. On average, equities research analysts forecast that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.79%. Helmerich & Payne’s payout ratio is currently 32.89%.

Analyst Upgrades and Downgrades

HP has been the topic of several research analyst reports. Citigroup upgraded Helmerich & Payne from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $33.00 to $40.00 in a report on Friday, January 10th. Royal Bank of Canada dropped their target price on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. Argus raised shares of Helmerich & Payne to a “hold” rating in a research note on Tuesday, February 11th. Finally, Barclays cut their target price on shares of Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.