Geode Capital Management LLC Has $68.37 Million Stock Holdings in Helmerich & Payne, Inc. (NYSE:HP)

Geode Capital Management LLC increased its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 1.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,247,214 shares of the oil and gas company’s stock after purchasing an additional 22,875 shares during the period. Geode Capital Management LLC’s holdings in Helmerich & Payne were worth $68,373,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D raised its holdings in shares of Helmerich & Payne by 18.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 58,634 shares of the oil and gas company’s stock valued at $1,784,000 after purchasing an additional 9,004 shares during the period. Petrus Trust Company LTA acquired a new position in Helmerich & Payne during the 3rd quarter worth approximately $619,000. William B. Walkup & Associates Inc. bought a new position in Helmerich & Payne in the second quarter worth approximately $1,274,000. FMR LLC grew its stake in Helmerich & Payne by 510.7% in the third quarter. FMR LLC now owns 140,655 shares of the oil and gas company’s stock valued at $4,279,000 after acquiring an additional 117,624 shares during the period. Finally, Barclays PLC increased its holdings in shares of Helmerich & Payne by 320.2% during the third quarter. Barclays PLC now owns 198,415 shares of the oil and gas company’s stock valued at $6,035,000 after acquiring an additional 151,196 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors.

Helmerich & Payne Stock Performance

Shares of HP opened at $30.45 on Friday. The stock has a 50 day moving average of $34.27 and a 200 day moving average of $34.43. The company has a current ratio of 2.67, a quick ratio of 2.40 and a debt-to-equity ratio of 0.61. Helmerich & Payne, Inc. has a 12 month low of $29.46 and a 12 month high of $44.11. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 8.85, a PEG ratio of 4.21 and a beta of 1.39.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 EPS for the quarter, hitting analysts’ consensus estimates of $0.76. The company had revenue of $693.79 million for the quarter, compared to analysts’ expectations of $695.99 million. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.69 EPS. As a group, sell-side analysts forecast that Helmerich & Payne, Inc. will post 3.12 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Friday, February 14th. Helmerich & Payne’s dividend payout ratio is currently 29.07%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Barclays reduced their price target on shares of Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 20th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. The Goldman Sachs Group dropped their price target on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research report on Thursday, August 29th. Citigroup decreased their price objective on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Finally, Royal Bank of Canada dropped their target price on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Helmerich & Payne presently has an average rating of “Hold” and an average price target of $38.57.

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.