Louisiana State Employees Retirement System decreased its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 10.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,700 shares of the oil and gas company’s stock after selling 700 shares during the period. Louisiana State Employees Retirement System’s holdings in Helmerich & Payne were worth $273,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in HP. Advisors Asset Management Inc. boosted its stake in Helmerich & Payne by 23.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 337,387 shares of the oil and gas company’s stock valued at $21,512,000 after purchasing an additional 63,447 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Helmerich & Payne by 2.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,939,321 shares of the oil and gas company’s stock worth $187,411,000 after buying an additional 58,078 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Helmerich & Payne by 25.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 36,689 shares of the oil and gas company’s stock worth $2,522,000 after buying an additional 7,389 shares during the last quarter. Viking Fund Management LLC boosted its stake in shares of Helmerich & Payne by 80.0% in the 3rd quarter. Viking Fund Management LLC now owns 4,500 shares of the oil and gas company’s stock worth $309,000 after buying an additional 2,000 shares during the last quarter. Finally, Clinton Group Inc. purchased a new position in shares of Helmerich & Payne in the 3rd quarter worth $423,000. 90.24% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Michael Lennox sold 6,912 shares of the firm’s stock in a transaction on Tuesday, December 11th. The stock was sold at an average price of $60.08, for a total value of $415,272.96. Following the transaction, the vice president now directly owns 10,360 shares of the company’s stock, valued at approximately $622,428.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP John R. Bell sold 13,000 shares of the firm’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $60.17, for a total value of $782,210.00. Following the completion of the transaction, the vice president now directly owns 63,375 shares in the company, valued at $3,813,273.75. The disclosure for this sale can be found here. 4.17% of the stock is currently owned by company insiders.
HP has been the topic of a number of research reports. Zacks Investment Research upgraded Helmerich & Payne from a “hold” rating to a “buy” rating and set a $81.00 price target on the stock in a research note on Tuesday, October 9th. Wolfe Research initiated coverage on Helmerich & Payne in a research note on Wednesday, October 10th. They issued an “underperform” rating on the stock. Morgan Stanley set a $71.00 price target on Helmerich & Payne and gave the stock a “sell” rating in a research note on Thursday, October 11th. Cowen restated a “hold” rating and issued a $61.00 price target on shares of Helmerich & Payne in a research note on Friday, October 12th. Finally, Wells Fargo & Co set a $72.00 price target on Helmerich & Payne and gave the stock a “hold” rating in a research note on Monday, October 15th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $67.11.
Shares of Helmerich & Payne stock opened at $56.47 on Wednesday. Helmerich & Payne, Inc. has a one year low of $44.56 and a one year high of $74.36. The firm has a market capitalization of $6.25 billion, a P/E ratio of 126.89 and a beta of 1.57. The company has a current ratio of 2.70, a quick ratio of 2.29 and a debt-to-equity ratio of 0.11.
Helmerich & Payne (NYSE:HP) last announced its earnings results on Tuesday, January 29th. The oil and gas company reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.14. Helmerich & Payne had a return on equity of 1.18% and a net margin of 0.06%. The company had revenue of $740.60 million for the quarter, compared to analysts’ expectations of $716.12 million. As a group, analysts forecast that Helmerich & Payne, Inc. will post 1.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 8th will be issued a $0.71 dividend. The ex-dividend date is Thursday, February 7th. This represents a $2.84 dividend on an annualized basis and a yield of 5.03%. Helmerich & Payne’s dividend payout ratio is currently 2,028.57%.
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About Helmerich & Payne
Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.
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