Duality Advisers LP Invests $2.47 Million in Helmerich & Payne, Inc. (NYSE:HP)

Duality Advisers LP acquired a new position in shares of Helmerich & Payne, Inc. (NYSE:HP) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 44,460 shares of the oil and gas company’s stock, valued at approximately $2,470,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Commonwealth Bank of Australia raised its stake in Helmerich & Payne by 150.0% during the 1st quarter. Commonwealth Bank of Australia now owns 500 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 300 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new position in Helmerich & Payne during the 1st quarter valued at $28,000. Liberty Wealth Management LLC acquired a new position in shares of Helmerich & Payne in the 4th quarter valued at $26,000. Synovus Financial Corp raised its stake in shares of Helmerich & Payne by 45.0% in the 1st quarter. Synovus Financial Corp now owns 580 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 180 shares in the last quarter. Finally, Arbor Wealth Management LLC acquired a new position in shares of Helmerich & Payne in the 4th quarter valued at $30,000. 90.62% of the stock is currently owned by institutional investors.

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

HP stock traded up $0.80 during trading on Monday, hitting $51.42. The company had a trading volume of 1,081,000 shares, compared to its average volume of 1,307,011. The stock has a 50-day moving average price of $51.90. Helmerich & Payne, Inc. has a one year low of $44.56 and a one year high of $73.74. The firm has a market cap of $5.72 billion, a PE ratio of 366.18 and a beta of 1.50. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.37 and a current ratio of 2.80.

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 the Thomson Reuters’ consensus estimate 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 return on equity of 2.95% and a net margin of 2.65%. The firm’s revenue was up 24.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) earnings per share. Equities analysts expect that Helmerich & Payne, Inc. will post 1.63 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date is Friday, August 9th. Helmerich & Payne’s payout ratio is 2,028.57%.

About Helmerich & Payne

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.

Further Reading: What are retained earnings?

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

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