Cresset Asset Management LLC Acquires 2,305 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Cresset Asset Management LLC increased its stake in Helmerich & Payne, Inc. (NYSE:HP) by 4.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 57,517 shares of the oil and gas company’s stock after buying an additional 2,305 shares during the quarter. Cresset Asset Management LLC’s holdings in Helmerich & Payne were worth $1,842,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Kestra Investment Management LLC bought a new stake in shares of Helmerich & Payne during the fourth quarter valued at about $27,000. Covestor Ltd boosted its position in shares of Helmerich & Payne by 61.3% in the fourth quarter. Covestor Ltd now owns 2,386 shares of the oil and gas company’s stock valued at $76,000 after acquiring an additional 907 shares during the period. Steph & Co. purchased a new position in Helmerich & Payne during the fourth quarter valued at approximately $87,000. Smartleaf Asset Management LLC increased its holdings in Helmerich & Payne by 82.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,805 shares of the oil and gas company’s stock worth $88,000 after acquiring an additional 1,268 shares during the period. Finally, Sterling Capital Management LLC increased its holdings in shares of Helmerich & Payne by 817.5% in the fourth quarter. Sterling Capital Management LLC now owns 3,046 shares of the oil and gas company’s stock worth $98,000 after purchasing an additional 2,714 shares during the period. 96.05% of the stock is currently owned by institutional investors.

Helmerich & Payne Stock Down 0.3 %

Shares of NYSE HP opened at $18.28 on Friday. The firm’s fifty day moving average is $22.20 and its 200 day moving average is $28.83. Helmerich & Payne, Inc. has a 52 week low of $17.60 and a 52 week high of $42.60. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 6.01, a PEG ratio of 3.52 and a beta of 0.93.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.63). Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $961.03 million. During the same quarter in the prior year, the company posted $0.84 earnings per share. The business’s revenue for the quarter was up 47.7% on a year-over-year basis. On average, equities research analysts expect that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.00 annualized dividend and a dividend yield of 5.47%. Helmerich & Payne’s dividend payout ratio (DPR) is presently 32.89%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on HP shares. Susquehanna decreased their target price on Helmerich & Payne from $43.00 to $28.00 and set a “positive” rating on the stock in a research note on Monday, April 14th. Argus raised shares of Helmerich & Payne to a “hold” rating in a research note on Tuesday, February 11th. TD Cowen decreased their price target on shares of Helmerich & Payne from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Friday. Barclays cut their target price on shares of Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group dropped their price target on Helmerich & Payne from $32.00 to $25.00 and set a “sell” rating for the company in a research note on Thursday, April 10th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Helmerich & Payne currently has an average rating of “Hold” and an average target price of $31.20.

Insider Activity at Helmerich & Payne

In other news, CEO John W. Lindsay bought 20,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was purchased 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 owns 691,214 shares of the company’s stock, valued at approximately $19,042,945.70. The trade was a 2.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Belgacem Chariag bought 37,356 shares of the stock in a transaction dated Monday, February 10th. The stock was purchased at an average price of $27.08 per share, with a total value of $1,011,600.48. Following the purchase, 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 disclosure for this purchase can be found here. 4.51% of the stock is owned by corporate insiders.

About Helmerich & Payne

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.