LS Investment Advisors LLC Raises Position in Helmerich & Payne, Inc. (HP)

LS Investment Advisors LLC raised its position in Helmerich & Payne, Inc. (NYSE:HP) by 21.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,879 shares of the oil and gas company’s stock after buying an additional 1,053 shares during the period. LS Investment Advisors LLC’s holdings in Helmerich & Payne were worth $319,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of HP. Ameritas Investment Partners Inc. purchased a new stake in Helmerich & Payne during the first quarter worth about $172,000. Mn Services Vermogensbeheer B.V. boosted its stake in Helmerich & Payne by 4.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,885 shares of the oil and gas company’s stock worth $180,000 after buying an additional 116 shares in the last quarter. Tompkins Financial Corp boosted its stake in Helmerich & Payne by 244.4% in the first quarter. Tompkins Financial Corp now owns 3,375 shares of the oil and gas company’s stock worth $198,000 after buying an additional 2,395 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in Helmerich & Payne during the first quarter worth about $209,000. Finally, Access Financial Services Inc. purchased a new stake in Helmerich & Payne during the second quarter worth about $223,000.

Shares of Helmerich & Payne, Inc. (NYSE HP) traded down 0.19% during trading on Monday, hitting $46.09. The stock had a trading volume of 1,495,814 shares. The stock’s market capitalization is $5.00 billion. Helmerich & Payne, Inc. has a one year low of $46.00 and a one year high of $85.78. The stock has a 50 day moving average price of $52.55 and a 200-day moving average price of $60.88.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.05. The business had revenue of $498.60 million for the quarter, compared to analyst estimates of $452.42 million. Helmerich & Payne had a negative return on equity of 3.37% and a negative net margin of 11.19%. Helmerich & Payne’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.20) EPS. On average, equities research analysts predict that Helmerich & Payne, Inc. will post ($1.32) earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 6.08%. The ex-dividend date of this dividend is Wednesday, August 16th. Helmerich & Payne’s payout ratio is presently -167.66%.

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A number of analysts have recently issued reports on HP shares. Jefferies Group LLC upgraded Helmerich & Payne from an “underperform” rating to a “hold” rating and lowered their price objective for the company from $55.00 to $54.00 in a research report on Wednesday, May 3rd. Credit Suisse Group restated a “hold” rating and set a $63.00 price objective on shares of Helmerich & Payne in a research report on Tuesday, May 2nd. Morgan Stanley cut Helmerich & Payne from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $85.00 to $56.00 in a research report on Wednesday, June 21st. BMO Capital Markets restated a “sell” rating and set a $54.00 price objective on shares of Helmerich & Payne in a research report on Thursday, June 22nd. Finally, Cowen and Company reiterated a “hold” rating and issued a $50.00 price target on shares of Helmerich & Payne in a research report on Friday. Seven analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $56.77.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.