Connor Clark & Lunn Investment Management Ltd. Lowers Stock Holdings in Helmerich & Payne, Inc. (NYSE:HP)

Connor Clark & Lunn Investment Management Ltd. lowered its position in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 62.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 156,777 shares of the oil and gas company's stock after selling 256,765 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.16% of Helmerich & Payne worth $4,095,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc boosted its position in Helmerich & Payne by 104.2% in the 1st quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company's stock worth $44,000 after purchasing an additional 867 shares in the last quarter. GAMMA Investing LLC boosted its position in Helmerich & Payne by 85.4% in the 1st quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company's stock worth $83,000 after purchasing an additional 1,459 shares in the last quarter. Sterling Capital Management LLC boosted its position in Helmerich & Payne by 817.5% in the 4th quarter. Sterling Capital Management LLC now owns 3,046 shares of the oil and gas company's stock worth $98,000 after purchasing an additional 2,714 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Helmerich & Payne by 120.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,533 shares of the oil and gas company's stock worth $113,000 after purchasing an additional 1,932 shares in the last quarter. Finally, CWM LLC boosted its position in Helmerich & Payne by 37.8% in the 1st quarter. CWM LLC now owns 5,671 shares of the oil and gas company's stock worth $148,000 after purchasing an additional 1,555 shares in the last quarter. Hedge funds and other institutional investors own 96.05% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. TD Cowen lowered their price objective on Helmerich & Payne from $28.00 to $26.00 and set a "hold" rating on the stock in a research report on Friday, May 9th. Morgan Stanley reduced their target price on Helmerich & Payne from $27.00 to $20.00 and set an "underweight" rating for the company in a research note on Friday, May 16th. Barclays reduced their target price on Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating for the company in a research note on Friday, June 20th. Wall Street Zen downgraded Helmerich & Payne from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Zacks Research raised Helmerich & Payne to a "hold" rating in a research note on Monday, August 11th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $22.10.

Helmerich & Payne Price Performance

NYSE HP traded down $0.68 during mid-day trading on Friday, hitting $17.67. The stock had a trading volume of 2,532,739 shares, compared to its average volume of 2,386,497. The firm's 50 day moving average is $16.72 and its 200 day moving average is $20.44. Helmerich & Payne, Inc. has a twelve month low of $14.65 and a twelve month high of $37.46. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.43. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -53.55 and a beta of 0.87.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued its earnings results on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.02. Helmerich & Payne had a positive return on equity of 5.81% and a negative net margin of 0.90%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the company earned $0.92 EPS. The company's revenue for the quarter was up 49.2% on a year-over-year basis. Equities research analysts forecast that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.7%. Helmerich & Payne's dividend payout ratio is currently -303.03%.

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.