Envestnet Asset Management Inc. Has $17.27 Million Holdings in Helmerich & Payne, Inc. (NYSE:HP)

Envestnet Asset Management Inc. grew its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 14.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 310,756 shares of the oil and gas company’s stock after buying an additional 40,019 shares during the period. Envestnet Asset Management Inc. owned approximately 0.28% of Helmerich & Payne worth $17,266,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Liberty Wealth Management LLC acquired a new stake in shares of Helmerich & Payne in the fourth quarter valued at about $26,000. Commonwealth Bank of Australia raised its position in shares of Helmerich & Payne by 150.0% in the first quarter. Commonwealth Bank of Australia now owns 500 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 300 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Helmerich & Payne in the first quarter valued at about $28,000. Arbor Wealth Management LLC acquired a new stake in shares of Helmerich & Payne in the fourth quarter valued at about $30,000. Finally, Capital Investment Advisory Services LLC acquired a new stake in shares of Helmerich & Payne in the fourth quarter valued at about $31,000. 90.62% of the stock is owned by institutional investors and hedge funds.

HP stock traded up $0.88 during midday trading on Friday, reaching $50.62. 1,053,900 shares of the company were exchanged, compared to its average volume of 1,308,834. The company has a current ratio of 2.80, a quick ratio of 2.37 and a debt-to-equity ratio of 0.11. Helmerich & Payne, Inc. has a 1-year low of $44.56 and a 1-year high of $73.74. The company’s 50-day moving average price is $52.05. The company has a market capitalization of $5.51 billion, a P/E ratio of 361.57 and a beta of 1.56.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, April 24th. The oil and gas company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.18. The business had revenue of $720.87 million for the quarter, compared to analysts’ expectations of $712.29 million. Helmerich & Payne had a net margin of 2.65% and a return on equity of 2.95%. The company’s quarterly revenue was up 24.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) EPS. As a group, sell-side analysts predict that Helmerich & Payne, Inc. will post 1.64 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be issued a $0.71 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.61%. Helmerich & Payne’s payout ratio is 2,028.57%.

Several research firms recently issued reports on HP. Wells Fargo & Co restated a “buy” rating on shares of Helmerich & Payne in a research report on Thursday. AltaCorp Capital restated an “outperform” rating on shares of Helmerich & Payne in a research report on Thursday, June 20th. Royal Bank of Canada cut their price objective on shares of Helmerich & Payne from $90.00 to $75.00 and set an “outperform” rating for the company in a research report on Tuesday, June 18th. Piper Jaffray Companies upgraded shares of Helmerich & Payne from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $64.00 to $60.00 in a research report on Friday, June 7th. Finally, Evercore ISI initiated coverage on shares of Helmerich & Payne in a research note on Thursday, June 6th. They set an “outperform” rating for the company. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $66.47.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.

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Institutional Ownership by Quarter for Helmerich & Payne (NYSE:HP)

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