Envestnet Asset Management Inc. Reduces Holdings in Helmerich & Payne, Inc. (NYSE:HP)

Envestnet Asset Management Inc. trimmed its stake in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 357,283 shares of the oil and gas company's stock after selling 18,253 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.36% of Helmerich & Payne worth $11,440,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. ARGA Investment Management LP lifted its stake in shares of Helmerich & Payne by 42.5% in the fourth quarter. ARGA Investment Management LP now owns 2,686,215 shares of the oil and gas company's stock worth $86,013,000 after acquiring an additional 801,000 shares during the period. American Century Companies Inc. lifted its position in shares of Helmerich & Payne by 14.0% in the 4th quarter. American Century Companies Inc. now owns 2,658,356 shares of the oil and gas company's stock worth $85,121,000 after purchasing an additional 327,374 shares during the period. Geode Capital Management LLC increased its position in shares of Helmerich & Payne by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,247,214 shares of the oil and gas company's stock worth $68,373,000 after buying an additional 22,875 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Helmerich & Payne by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,557,931 shares of the oil and gas company's stock worth $49,885,000 after buying an additional 53,277 shares during the period. Finally, Van ECK Associates Corp raised its stake in Helmerich & Payne by 27.7% during the fourth quarter. Van ECK Associates Corp now owns 1,522,144 shares of the oil and gas company's stock worth $48,739,000 after buying an additional 329,734 shares during the last quarter. Institutional investors own 96.05% of the company's stock.

Helmerich & Payne Stock Up 1.2 %

Shares of NYSE HP traded up $0.23 during midday trading on Wednesday, hitting $20.06. 217,473 shares of the stock traded hands, compared to its average volume of 1,722,761. Helmerich & Payne, Inc. has a one year low of $17.82 and a one year high of $42.60. The business has a 50 day moving average price of $23.98 and a two-hundred day moving average price of $30.23. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81. The company has a market cap of $1.99 billion, a PE ratio of 6.60, a P/E/G ratio of 3.52 and a beta of 1.00.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its 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%. On average, equities analysts predict that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date of this dividend is Thursday, May 15th. Helmerich & Payne's dividend payout ratio is 32.89%.

Wall Street Analyst Weigh In

A number of brokerages have commented on HP. Citigroup cut their price target on shares of Helmerich & Payne from $33.00 to $32.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. The Goldman Sachs Group cut their target price on Helmerich & Payne from $32.00 to $25.00 and set a "sell" rating on the stock in a research report on Thursday, April 10th. Morgan Stanley reiterated an "underweight" rating and issued a $27.00 target price on shares of Helmerich & Payne in a report on Thursday, March 27th. Barclays dropped their price target on Helmerich & Payne from $36.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 19th. Finally, Argus raised shares of Helmerich & Payne to a "hold" rating in a research report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $31.78.

Insider Transactions at Helmerich & Payne

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

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.