Quest Partners LLC Raises Holdings in Helmerich & Payne, Inc. (NYSE:HP)

Quest Partners LLC increased its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 112.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 14,132 shares of the oil and gas company’s stock after purchasing an additional 7,466 shares during the period. Quest Partners LLC’s holdings in Helmerich & Payne were worth $511,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its holdings in Helmerich & Payne by 937.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 841,724 shares of the oil and gas company’s stock worth $30,487,000 after acquiring an additional 760,554 shares in the last quarter. ARGA Investment Management LP boosted its stake in shares of Helmerich & Payne by 55.4% during the first quarter. ARGA Investment Management LP now owns 1,378,705 shares of the oil and gas company’s stock valued at $57,988,000 after purchasing an additional 491,589 shares in the last quarter. Great Lakes Advisors LLC purchased a new position in Helmerich & Payne during the fourth quarter valued at approximately $15,367,000. LSV Asset Management raised its stake in Helmerich & Payne by 51.7% in the second quarter. LSV Asset Management now owns 1,189,318 shares of the oil and gas company’s stock worth $42,982,000 after buying an additional 405,179 shares in the last quarter. Finally, Global Alpha Capital Management Ltd. lifted its holdings in Helmerich & Payne by 28.1% during the fourth quarter. Global Alpha Capital Management Ltd. now owns 716,591 shares of the oil and gas company’s stock worth $25,955,000 after buying an additional 157,100 shares during the period. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HP. Piper Sandler cut their price objective on shares of Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Bank of America reduced their price target on Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Evercore ISI upgraded Helmerich & Payne to a “strong-buy” rating in a report on Friday, July 26th. The Goldman Sachs Group dropped their target price on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th. Finally, Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $42.00.

Helmerich & Payne Stock Performance

Shares of HP opened at $30.61 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.87 and a current ratio of 2.12. The stock has a 50-day moving average of $35.19 and a two-hundred day moving average of $37.48. The stock has a market cap of $3.02 billion, a P/E ratio of 8.75, a P/E/G ratio of 3.25 and a beta of 1.42. Helmerich & Payne, Inc. has a one year low of $29.46 and a one year high of $46.55.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.15. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The firm had revenue of $697.70 million during the quarter, compared to the consensus estimate of $670.78 million. During the same quarter in the previous year, the company posted $1.09 earnings per share. The company’s revenue was down 3.6% compared to the same quarter last year. As a group, research analysts predict that Helmerich & Payne, Inc. will post 3.57 EPS for the current year.

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.