CacheTech Inc. Buys 3,978 Shares of Helmerich & Payne, Inc. (NYSE:HP)

CacheTech Inc. raised its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 20.2% in the fourth quarter, Holdings Channel reports. The fund owned 23,640 shares of the oil and gas company’s stock after buying an additional 3,978 shares during the quarter. CacheTech Inc.’s holdings in Helmerich & Payne were worth $757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in HP. Summit Investment Advisors Inc. grew its position in Helmerich & Payne by 4.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,113 shares of the oil and gas company’s stock worth $324,000 after purchasing an additional 395 shares during the last quarter. LPL Financial LLC lifted its stake in Helmerich & Payne by 1.9% during the fourth quarter. LPL Financial LLC now owns 21,763 shares of the oil and gas company’s stock worth $697,000 after purchasing an additional 408 shares during the period. Napatree Capital LLC boosted its holdings in Helmerich & Payne by 2.5% during the fourth quarter. Napatree Capital LLC now owns 20,847 shares of the oil and gas company’s stock valued at $668,000 after purchasing an additional 511 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Helmerich & Payne by 0.4% in the 3rd quarter. Franklin Resources Inc. now owns 157,568 shares of the oil and gas company’s stock valued at $4,793,000 after purchasing an additional 666 shares during the period. Finally, Kestra Investment Management LLC acquired a new position in shares of Helmerich & Payne in the 4th quarter worth approximately $27,000. Institutional investors own 96.05% of the company’s stock.

Insider Activity at Helmerich & Payne

In other news, CEO John W. Lindsay acquired 20,000 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average price of $27.55 per share, for a total transaction of $551,000.00. Following the transaction, the chief executive officer now directly owns 691,214 shares in the company, valued at approximately $19,042,945.70. This represents a 2.98 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director Belgacem Chariag bought 37,356 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was acquired at an average cost of $27.08 per share, with a total value of $1,011,600.48. Following the completion of the purchase, the director now owns 54,606 shares of the company’s stock, valued at approximately $1,478,730.48. This trade represents a 216.56 % increase in their position. The disclosure for this purchase can be found here. 4.51% of the stock is currently owned by corporate insiders.

Helmerich & Payne Stock Performance

Shares of HP opened at $19.21 on Tuesday. The firm has a market capitalization of $1.91 billion, a PE ratio of 6.32, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00. Helmerich & Payne, Inc. has a 12-month low of $17.82 and a 12-month high of $42.68. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60. The stock’s fifty day simple moving average is $24.85 and its 200-day simple moving average is $30.73.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. As a group, research analysts predict that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.00 annualized dividend and a dividend yield of 5.21%. Helmerich & Payne’s dividend payout ratio is currently 32.89%.

Analyst Ratings Changes

HP has been the topic of a number of analyst reports. Citigroup lowered their price target on Helmerich & Payne from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley reissued an “underweight” rating and set a $27.00 price target on shares of Helmerich & Payne in a report on Thursday, March 27th. Barclays dropped their price objective on shares of Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. The Goldman Sachs Group reduced their target price on Helmerich & Payne from $32.00 to $25.00 and set a “sell” rating on the stock in a report on Thursday, April 10th. Finally, Royal Bank of Canada dropped their price target on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Helmerich & Payne currently has a consensus rating of “Hold” and a consensus price target of $31.78.

Helmerich & Payne Profile

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.