Wedge Capital Management L L P NC Has $4.43 Million Holdings in Helmerich & Payne, Inc. (NYSE:HP)

Wedge Capital Management L L P NC cut its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 8.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 169,423 shares of the oil and gas company’s stock after selling 15,961 shares during the quarter. Wedge Capital Management L L P NC owned 0.17% of Helmerich & Payne worth $4,425,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Earnest Partners LLC lifted its holdings in shares of Helmerich & Payne by 1.0% during the fourth quarter. Earnest Partners LLC now owns 3,487,019 shares of the oil and gas company’s stock valued at $111,654,000 after acquiring an additional 35,013 shares during the period. American Century Companies Inc. boosted its holdings in Helmerich & Payne by 14.0% in the fourth quarter. American Century Companies Inc. now owns 2,658,356 shares of the oil and gas company’s stock valued at $85,121,000 after acquiring an additional 327,374 shares during the last quarter. Northern Trust Corp grew its position in shares of Helmerich & Payne by 5.1% during the 4th quarter. Northern Trust Corp now owns 1,699,388 shares of the oil and gas company’s stock worth $54,414,000 after buying an additional 82,254 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Helmerich & Payne by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,557,931 shares of the oil and gas company’s stock valued at $49,885,000 after acquiring an additional 53,277 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in Helmerich & Payne by 27.7% in the fourth quarter. Van ECK Associates Corp now owns 1,522,144 shares of the oil and gas company’s stock valued at $48,739,000 after buying an additional 329,734 shares during the period. 96.05% of the stock is currently owned by institutional investors.

Helmerich & Payne Trading Up 5.2%

Shares of Helmerich & Payne stock opened at $17.63 on Tuesday. The firm’s 50-day moving average price is $18.44 and its two-hundred day moving average price is $26.15. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 5.80, a PEG ratio of 3.52 and a beta of 0.83. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60. Helmerich & Payne, Inc. has a 12-month low of $14.65 and a 12-month high of $42.60.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.63). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $961.03 million. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. The firm’s revenue was up 47.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.84 EPS. On average, analysts forecast that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.67%. The ex-dividend date is Friday, August 15th. Helmerich & Payne’s payout ratio is 45.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on HP shares. Barclays reduced their price target on shares of Helmerich & Payne from $24.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 14th. Wall Street Zen lowered shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. decreased their target price on shares of Helmerich & Payne from $25.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, May 28th. TD Cowen cut their price objective on Helmerich & Payne from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Friday, May 9th. Finally, The Goldman Sachs Group reduced their target price on shares of Helmerich & Payne from $32.00 to $25.00 and set a “sell” rating for the company in a report on Thursday, April 10th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.73.

Helmerich & Payne Company 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.