Kornitzer Capital Management Inc. KS Sells 6,750 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Kornitzer Capital Management Inc. KS lessened its position in Helmerich & Payne, Inc. (NYSE:HP) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 343,895 shares of the oil and gas company’s stock after selling 6,750 shares during the quarter. Kornitzer Capital Management Inc. KS owned about 0.34% of Helmerich & Payne worth $12,456,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of HP. Rockefeller Capital Management L.P. raised its holdings in Helmerich & Payne by 221.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 533 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 367 shares during the period. Quarry LP bought a new position in shares of Helmerich & Payne during the 1st quarter worth about $43,000. Coppell Advisory Solutions Corp. bought a new position in shares of Helmerich & Payne during the 4th quarter worth about $45,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Helmerich & Payne by 689.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,145 shares of the oil and gas company’s stock worth $57,000 after purchasing an additional 1,000 shares during the period. Finally, Resurgent Financial Advisors LLC bought a new position in shares of Helmerich & Payne during the 4th quarter worth about $65,000. Institutional investors own 96.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on HP. Citigroup boosted their price objective on shares of Helmerich & Payne from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday. Royal Bank of Canada boosted their price objective on shares of Helmerich & Payne from $46.00 to $48.00 and gave the stock a “sector perform” rating in a report on Wednesday, January 31st. Benchmark downgraded shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Barclays cut shares of Helmerich & Payne from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $44.00 to $40.00 in a research note on Wednesday, January 10th. Finally, The Goldman Sachs Group lowered their target price on shares of Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating on the stock in a research note on Friday, January 12th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $42.88.

Helmerich & Payne Price Performance

NYSE:HP traded up $0.79 on Friday, reaching $41.96. The stock had a trading volume of 862,741 shares, compared to its average volume of 868,608. The company has a market capitalization of $4.15 billion, a P/E ratio of 10.02, a price-to-earnings-growth ratio of 1.97 and a beta of 1.51. Helmerich & Payne, Inc. has a 1-year low of $30.41 and a 1-year high of $46.55. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 0.20. The stock has a fifty day moving average price of $40.41 and a 200-day moving average price of $38.64.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Tuesday, January 30th. The oil and gas company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.24. The firm had revenue of $677.00 million for the quarter, compared to analyst estimates of $661.81 million. Helmerich & Payne had a net margin of 15.27% and a return on equity of 15.06%. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.11 earnings per share. Research analysts forecast that Helmerich & Payne, Inc. will post 3.59 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a $0.42 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.68 dividend on an annualized basis and a yield of 4.00%. Helmerich & Payne’s dividend payout ratio (DPR) is presently 23.87%.

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.