Van ECK Associates Corp Has $68.35 Million Position in Helmerich & Payne, Inc. (NYSE:HP)

Van ECK Associates Corp decreased its stake in Helmerich & Payne, Inc. (NYSE:HP) by 1.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,887,117 shares of the oil and gas company’s stock after selling 20,611 shares during the period. Van ECK Associates Corp’s holdings in Helmerich & Payne were worth $68,352,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Earnest Partners LLC increased its position in shares of Helmerich & Payne by 4.0% during the third quarter. Earnest Partners LLC now owns 2,929,498 shares of the oil and gas company’s stock worth $123,508,000 after buying an additional 113,735 shares during the period. Pacer Advisors Inc. boosted its position in Helmerich & Payne by 130.8% during the fourth quarter. Pacer Advisors Inc. now owns 2,720,464 shares of the oil and gas company’s stock valued at $98,535,000 after acquiring an additional 1,541,987 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Helmerich & Payne by 13,372.8% during the 3rd quarter. Victory Capital Management Inc. now owns 2,418,364 shares of the oil and gas company’s stock worth $101,958,000 after acquiring an additional 2,400,414 shares during the period. Boston Trust Walden Corp lifted its stake in Helmerich & Payne by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 2,214,742 shares of the oil and gas company’s stock valued at $80,218,000 after buying an additional 34,863 shares during the period. Finally, Invesco Ltd. lifted its stake in Helmerich & Payne by 10.7% in the third quarter. Invesco Ltd. now owns 1,970,140 shares of the oil and gas company’s stock valued at $83,061,000 after buying an additional 190,134 shares during the period. Institutional investors and hedge funds own 96.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on HP shares. Royal Bank of Canada lifted their price objective on shares of Helmerich & Payne from $46.00 to $48.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 31st. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, April 25th. Piper Sandler increased their price objective on shares of Helmerich & Payne from $41.00 to $44.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 20th. The Goldman Sachs Group decreased their target price on Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating for the company in a research report on Friday, January 12th. Finally, Citigroup increased their price target on Helmerich & Payne from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $42.63.

Helmerich & Payne Stock Down 2.6 %

Helmerich & Payne stock traded down $1.06 during trading on Tuesday, hitting $39.76. 233,990 shares of the company were exchanged, compared to its average volume of 1,299,098. The company has a market capitalization of $3.93 billion, a P/E ratio of 11.66, a PEG ratio of 1.93 and a beta of 1.51. The business’s 50 day moving average is $40.78 and its 200 day moving average is $38.65. Helmerich & Payne, Inc. has a 52 week low of $30.41 and a 52 week high of $46.55. The company has a current ratio of 2.16, a quick ratio of 1.92 and a debt-to-equity ratio of 0.19.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Thursday, April 25th. The oil and gas company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.01). Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The firm had revenue of $687.94 million during the quarter, compared to analysts’ expectations of $682.51 million. During the same quarter in the prior year, the company earned $1.26 EPS. The business’s revenue for the quarter was down 10.6% on a year-over-year basis. Analysts predict that Helmerich & Payne, Inc. will post 3.59 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Thursday, May 16th. Helmerich & Payne’s dividend payout ratio is presently 28.57%.

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.