Cadence Capital Management LLC Has $1.09 Million Position in Helmerich & Payne, Inc. (HP)
Cadence Capital Management LLC decreased its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,810 shares of the oil and gas company’s stock after selling 1,062 shares during the quarter. Cadence Capital Management LLC’s holdings in Helmerich & Payne were worth $1,087,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Sandy Spring Bank grew its stake in shares of Helmerich & Payne by 36.7% in the third quarter. Sandy Spring Bank now owns 3,540 shares of the oil and gas company’s stock worth $184,000 after purchasing an additional 950 shares during the last quarter. Sapphire Star Partners LP bought a new stake in shares of Helmerich & Payne in the third quarter worth $202,000. Private Advisor Group LLC bought a new stake in shares of Helmerich & Payne in the third quarter worth $206,000. McCollum Christoferson Group LLC bought a new stake in shares of Helmerich & Payne in the fourth quarter worth $209,000. Finally, IFM Investors Pty Ltd bought a new stake in shares of Helmerich & Payne in the fourth quarter worth $215,000.
Several brokerages recently weighed in on HP. Sanford C. Bernstein cut shares of Helmerich & Payne from an “outperform” rating to a “market perform” rating in a research note on Monday, January 29th. Jefferies Group reissued a “hold” rating and issued a $69.00 price objective on shares of Helmerich & Payne in a research note on Thursday, January 25th. Cowen reissued a “market perform” rating and issued a $60.00 price objective (up previously from $50.00) on shares of Helmerich & Payne in a research note on Friday, January 26th. Societe Generale raised shares of Helmerich & Payne from a “hold” rating to a “buy” rating in a research note on Monday, January 29th. Finally, Zacks Investment Research cut shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Seven investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have assigned a buy rating to the company. Helmerich & Payne presently has an average rating of “Hold” and an average target price of $57.68.
Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Thursday, January 25th. The oil and gas company reported ($0.02) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.14. The business had revenue of $564.10 million for the quarter, compared to analysts’ expectations of $547.64 million. Helmerich & Payne had a net margin of 20.30% and a negative return on equity of 1.90%. The business’s quarterly revenue was up 53.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.33) earnings per share. equities research analysts expect that Helmerich & Payne, Inc. will post -0.08 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Monday, February 12th will be given a dividend of $0.70 per share. The ex-dividend date is Friday, February 9th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.33%. Helmerich & Payne’s dividend payout ratio (DPR) is presently 76.09%.
In other news, Director Chapman Paula Marshall sold 4,122 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $71.40, for a total transaction of $294,310.80. Following the transaction, the director now owns 16,647 shares of the company’s stock, valued at approximately $1,188,595.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is owned by corporate insiders.
Helmerich & Payne Profile
Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.
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