Royce & Associates LP Cuts Stake in Helmerich & Payne, Inc. (NYSE:HP)

Royce & Associates LP trimmed its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 11.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 236,641 shares of the oil and gas company’s stock after selling 29,939 shares during the quarter. Royce & Associates LP’s holdings in Helmerich & Payne were worth $7,199,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Covestor Ltd lifted its stake in Helmerich & Payne by 253.4% during the 1st quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 674 shares during the period. Blue Trust Inc. lifted its stake in shares of Helmerich & Payne by 127.8% in the 3rd quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 854 shares during the period. Headlands Technologies LLC lifted its stake in shares of Helmerich & Payne by 96.9% in the 2nd quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company’s stock worth $56,000 after purchasing an additional 757 shares during the period. Eastern Bank bought a new position in shares of Helmerich & Payne in the 3rd quarter worth approximately $61,000. Finally, KBC Group NV lifted its stake in shares of Helmerich & Payne by 20.3% in the 3rd quarter. KBC Group NV now owns 3,130 shares of the oil and gas company’s stock worth $95,000 after purchasing an additional 529 shares during the period. Institutional investors own 96.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on HP shares. Royal Bank of Canada lowered their price objective on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a research note on Friday. Citigroup lowered their price objective on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. The Goldman Sachs Group lowered their price objective on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Monday, August 5th. Finally, Barclays reduced their target price on shares of Helmerich & Payne from $42.00 to $39.00 and set an “equal weight” rating for the company in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $39.00.

Helmerich & Payne Trading Down 0.3 %

HP stock opened at $33.85 on Monday. The firm has a fifty day moving average price of $33.48 and a 200 day moving average price of $35.12. Helmerich & Payne, Inc. has a fifty-two week low of $29.46 and a fifty-two week high of $44.11. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.87 and a current ratio of 2.67. The firm has a market cap of $3.34 billion, a PE ratio of 9.84, a price-to-earnings-growth ratio of 3.59 and a beta of 1.40.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.76. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The firm had revenue of $693.79 million during the quarter, compared to analyst estimates of $695.99 million. During the same period last year, the firm posted $0.69 earnings per share. Helmerich & Payne’s revenue for the quarter was up 5.2% compared to the same quarter last year. Sell-side analysts anticipate that Helmerich & Payne, Inc. will post 3.57 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.95%. Helmerich & Payne’s dividend payout ratio is presently 29.07%.

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.