Van ECK Associates Corp Boosts Holdings in Helmerich & Payne, Inc. (NYSE:HP)

Van ECK Associates Corp grew its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 27.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,522,144 shares of the oil and gas company’s stock after acquiring an additional 329,734 shares during the quarter. Van ECK Associates Corp’s holdings in Helmerich & Payne were worth $48,739,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Covestor Ltd grew its holdings in shares of Helmerich & Payne by 76.9% in the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock worth $45,000 after purchasing an additional 643 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of 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 worth $46,000 after purchasing an additional 854 shares during the last quarter. Quarry LP bought a new position in shares of Helmerich & Payne in the third quarter worth approximately $48,000. Eastern Bank bought a new position in shares of Helmerich & Payne in the third quarter worth approximately $61,000. Finally, Steph & Co. bought a new position in shares of Helmerich & Payne in the fourth quarter worth approximately $87,000. 96.05% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Helmerich & Payne news, Director Belgacem Chariag bought 37,356 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was acquired at an average price of $27.08 per share, with a total value of $1,011,600.48. Following the transaction, the director now owns 54,606 shares in the company, valued at $1,478,730.48. This represents a 216.56 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John W. Lindsay bought 20,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was acquired at an average cost 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 in the company, valued at $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 owned by insiders.

Helmerich & Payne Price Performance

HP opened at $27.28 on Friday. The stock has a 50-day moving average price of $32.49 and a 200-day moving average price of $33.40. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.40. The firm has a market cap of $2.71 billion, a PE ratio of 8.97, a P/E/G ratio of 3.41 and a beta of 1.37. Helmerich & Payne, Inc. has a 1 year low of $26.35 and a 1 year high of $44.11.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (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%. Sell-side analysts predict that Helmerich & Payne, Inc. will post 3.11 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Friday, February 14th. Helmerich & Payne’s dividend payout ratio is presently 32.89%.

Analyst Ratings Changes

Several brokerages have recently issued reports on HP. Evercore ISI restated an “in-line” rating and issued a $39.00 target price (down previously from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. Royal Bank of Canada cut their price target on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a report on Friday, February 7th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a report on Thursday, November 21st. Citigroup raised Helmerich & Payne from a “neutral” rating to a “buy” rating and raised their price objective for the company from $33.00 to $40.00 in a research report on Friday, January 10th. Finally, Barclays lowered their price objective on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $38.75.

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.