Wedge Capital Management L L P NC Has $5.48 Million Stock Position in Helmerich & Payne, Inc. (NYSE:HP)

Wedge Capital Management L L P NC reduced its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 4.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 180,008 shares of the oil and gas company’s stock after selling 8,394 shares during the quarter. Wedge Capital Management L L P NC owned about 0.18% of Helmerich & Payne worth $5,476,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in shares of Helmerich & Payne by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,576,795 shares of the oil and gas company’s stock worth $201,543,000 after purchasing an additional 176,179 shares during the period. Pacer Advisors Inc. increased its stake in shares of Helmerich & Payne by 9.4% in the 2nd quarter. Pacer Advisors Inc. now owns 3,826,851 shares of the oil and gas company’s stock valued at $138,302,000 after acquiring an additional 327,802 shares during the last quarter. Earnest Partners LLC grew its holdings in Helmerich & Payne by 15.7% during the second quarter. Earnest Partners LLC now owns 3,469,609 shares of the oil and gas company’s stock valued at $125,392,000 after purchasing an additional 471,420 shares during the period. Boston Trust Walden Corp boosted its position in shares of Helmerich & Payne by 1.3% during the second quarter. Boston Trust Walden Corp now owns 2,222,477 shares of the oil and gas company’s stock worth $80,320,000 after purchasing an additional 27,660 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Helmerich & Payne by 38.1% during the 2nd quarter. American Century Companies Inc. now owns 1,862,362 shares of the oil and gas company’s stock worth $67,306,000 after buying an additional 513,647 shares during the period. Institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Performance

NYSE HP opened at $35.99 on Tuesday. The stock has a market cap of $3.55 billion, a PE ratio of 10.28, a P/E/G ratio of 3.80 and a beta of 1.42. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.87 and a current ratio of 2.12. The firm has a 50-day moving average of $32.79 and a 200-day moving average of $36.32. Helmerich & Payne, Inc. has a 52-week low of $29.46 and a 52-week high of $44.80.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.15. The company had revenue of $697.70 million during the quarter, compared to analysts’ expectations of $670.78 million. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.09 earnings per share. On average, sell-side analysts anticipate that Helmerich & Payne, Inc. will post 3.48 EPS for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.78%. Helmerich & Payne’s payout ratio is presently 28.57%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on HP shares. The Goldman Sachs Group cut their price objective on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. Citigroup dropped their price objective on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, September 13th. Evercore ISI upgraded Helmerich & Payne to a “strong-buy” rating in a report on Friday, July 26th. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a report on Monday, August 5th. Finally, Royal Bank of Canada increased their price objective on Helmerich & Payne from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $40.88.

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.