CoreCommodity Management LLC Decreases Stock Position in Helmerich & Payne, Inc. (NYSE:HP)

CoreCommodity Management LLC trimmed its holdings in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 23.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,889 shares of the oil and gas company's stock after selling 32,139 shares during the quarter. Helmerich & Payne makes up approximately 0.7% of CoreCommodity Management LLC's holdings, making the stock its 24th biggest position. CoreCommodity Management LLC owned 0.11% of Helmerich & Payne worth $3,423,000 as of its most recent SEC filing.

A number of other institutional investors have also 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 valued at $324,000 after acquiring an additional 395 shares during the last quarter. LPL Financial LLC lifted its holdings in Helmerich & Payne by 1.9% during the 4th quarter. LPL Financial LLC now owns 21,763 shares of the oil and gas company's stock valued at $697,000 after buying an additional 408 shares in the last quarter. Napatree Capital LLC boosted its position in Helmerich & Payne by 2.5% in the 4th quarter. Napatree Capital LLC now owns 20,847 shares of the oil and gas company's stock valued at $668,000 after buying an additional 511 shares during the period. Franklin Resources Inc. grew its stake in 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 worth $4,793,000 after acquiring an additional 666 shares in the last quarter. Finally, Kestra Investment Management LLC purchased a new position in shares of Helmerich & Payne during the fourth quarter worth approximately $27,000. 96.05% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Helmerich & Payne

In other Helmerich & Payne news, CEO John W. Lindsay purchased 20,000 shares of Helmerich & Payne stock in a transaction that occurred on Monday, February 10th. The stock was bought at an average price of $27.55 per share, with a total value of $551,000.00. Following the acquisition, the chief executive officer now owns 691,214 shares of the company's stock, valued at $19,042,945.70. This trade represents a 2.98 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Belgacem Chariag acquired 37,356 shares of the company's stock in a transaction on Monday, February 10th. The stock was acquired at an average cost of $27.08 per share, for a total transaction of $1,011,600.48. Following the completion of the acquisition, the director now owns 54,606 shares of the company's stock, valued at $1,478,730.48. This trade represents a 216.56 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 4.51% of the company's stock.

Analyst Upgrades and Downgrades

HP has been the topic of several research analyst reports. Royal Bank of Canada dropped their price objective on Helmerich & Payne from $41.00 to $35.00 and set a "sector perform" rating on the stock in a research note on Friday, February 7th. Citigroup lowered their price objective on shares of Helmerich & Payne from $33.00 to $32.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Argus raised shares of Helmerich & Payne to a "hold" rating in a research report on Tuesday, February 11th. Barclays lowered their price target on shares of Helmerich & Payne from $36.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 19th. Finally, The Goldman Sachs Group cut their price objective on shares of Helmerich & Payne from $32.00 to $25.00 and set a "sell" rating on the stock in a report on Thursday, April 10th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $31.20.

Helmerich & Payne Stock Performance

NYSE HP traded down $0.06 on Friday, hitting $18.28. 1,713,775 shares of the company's stock traded hands, compared to its average volume of 1,543,372. The firm's 50-day moving average price is $22.20 and its two-hundred day moving average price is $28.87. The firm has a market capitalization of $1.82 billion, a PE ratio of 6.01, a P/E/G ratio of 3.52 and a beta of 0.93. The company has a current ratio of 2.81, a quick ratio of 2.52 and a debt-to-equity ratio of 0.60. Helmerich & Payne, Inc. has a 1-year low of $17.60 and a 1-year high of $42.60.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.63). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $961.03 million. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. Helmerich & Payne's revenue for the quarter was up 47.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 earnings per share. As a group, analysts expect that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders 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 yield of 5.47%. Helmerich & Payne's dividend payout ratio is presently 32.89%.

About Helmerich & Payne

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.