Kornitzer Capital Management Inc. KS Purchases 1,205 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Kornitzer Capital Management Inc. KS raised its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 372,715 shares of the oil and gas company’s stock after purchasing an additional 1,205 shares during the period. Kornitzer Capital Management Inc. KS owned about 0.37% of Helmerich & Payne worth $11,934,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in HP. Creative Planning lifted its stake in Helmerich & Payne by 13.3% in the third quarter. Creative Planning now owns 23,656 shares of the oil and gas company’s stock worth $720,000 after acquiring an additional 2,774 shares during the period. Blue Trust Inc. lifted its position in shares of Helmerich & Payne by 127.8% in the 3rd 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 period. Raymond James & Associates boosted its stake in shares of Helmerich & Payne by 33.6% during the third quarter. Raymond James & Associates now owns 93,310 shares of the oil and gas company’s stock valued at $2,838,000 after purchasing an additional 23,459 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Helmerich & Payne by 5.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 340,943 shares of the oil and gas company’s stock valued at $10,371,000 after buying an additional 18,147 shares during the period. Finally, Eastern Bank bought a new position in Helmerich & Payne in the third quarter worth approximately $61,000. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Helmerich & Payne Trading Down 2.8 %

NYSE HP opened at $26.53 on Tuesday. Helmerich & Payne, Inc. has a 12-month low of $26.32 and a 12-month high of $44.11. The company has a fifty day simple moving average of $32.20 and a two-hundred day simple moving average of $33.14. The company has a current ratio of 2.81, a quick ratio of 2.40 and a debt-to-equity ratio of 0.60. The stock has a market cap of $2.64 billion, a P/E ratio of 8.73, a P/E/G ratio of 3.41 and a beta of 1.37.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. On average, analysts forecast that Helmerich & Payne, Inc. will post 3.11 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Friday, February 14th. Helmerich & Payne’s payout ratio is currently 32.89%.

Insider Buying and Selling at Helmerich & Payne

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

Analyst Ratings Changes

HP has been the topic of several recent research reports. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. Barclays cut their target price on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 20th. Royal Bank of Canada decreased their price target on shares of 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. Citigroup raised shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Finally, Evercore ISI reissued an “in-line” rating and set a $39.00 target price (down previously from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Helmerich & Payne has an average rating of “Hold” and a consensus 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.