Petrus Trust Company LTA Buys Shares of 20,340 Helmerich & Payne, Inc. (NYSE:HP)

Petrus Trust Company LTA bought a new stake in shares of Helmerich & Payne, Inc. (NYSE:HP) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,340 shares of the oil and gas company’s stock, valued at approximately $619,000.

Other hedge funds have also made changes to their positions in the company. State of New Jersey Common Pension Fund D raised its holdings in shares of Helmerich & Payne by 18.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 58,634 shares of the oil and gas company’s stock valued at $1,784,000 after acquiring an additional 9,004 shares during the last quarter. Wedge Capital Management L L P NC raised its holdings in shares of Helmerich & Payne by 13.1% during the second quarter. Wedge Capital Management L L P NC now owns 188,402 shares of the oil and gas company’s stock valued at $6,809,000 after acquiring an additional 21,852 shares during the last quarter. William B. Walkup & Associates Inc. purchased a new stake in shares of Helmerich & Payne in the second quarter valued at approximately $1,274,000. Canada Pension Plan Investment Board grew its position in shares of Helmerich & Payne by 120.6% in the second quarter. Canada Pension Plan Investment Board now owns 367,100 shares of the oil and gas company’s stock valued at $13,267,000 after purchasing an additional 200,700 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Helmerich & Payne by 88.1% in the second quarter. Sei Investments Co. now owns 53,124 shares of the oil and gas company’s stock valued at $1,920,000 after purchasing an additional 24,875 shares in the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Stock Down 0.5 %

NYSE:HP opened at $35.08 on Thursday. The company has a quick ratio of 2.40, a current ratio of 2.67 and a debt-to-equity ratio of 0.61. The stock’s fifty day moving average is $34.25 and its two-hundred day moving average is $34.79. Helmerich & Payne, Inc. has a 52 week low of $29.46 and a 52 week high of $44.11. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 4.30 and a beta of 1.39.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.76. The business had revenue of $693.79 million for the quarter, compared to analysts’ expectations of $695.99 million. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $0.69 earnings per share. Research analysts anticipate that Helmerich & Payne, Inc. will post 3.12 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.85%. The ex-dividend date was Monday, November 18th. Helmerich & Payne’s payout ratio is 29.07%.

Wall Street Analysts Forecast Growth

HP has been the subject of a number of analyst reports. Barclays dropped their price target 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. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. Royal Bank of Canada dropped their price target on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating for the company in a research report on Friday, November 15th. Citigroup dropped their price target on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Finally, The Goldman Sachs Group lowered their price objective on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $38.57.

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.