Segall Bryant & Hamill LLC lowered its stake in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 4.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 641,994 shares of the oil and gas company's stock after selling 29,892 shares during the period. Segall Bryant & Hamill LLC owned approximately 0.65% of Helmerich & Payne worth $16,769,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in HP. Balyasny Asset Management L.P. acquired a new position in shares of Helmerich & Payne during the 4th quarter worth about $28,708,000. Victory Capital Management Inc. lifted its position in shares of Helmerich & Payne by 28.4% during the 1st quarter. Victory Capital Management Inc. now owns 3,553,181 shares of the oil and gas company's stock worth $92,809,000 after purchasing an additional 786,250 shares during the last quarter. Norges Bank acquired a new position in shares of Helmerich & Payne during the 4th quarter worth about $21,572,000. Bank of America Corp DE lifted its position in shares of Helmerich & Payne by 542.9% during the 4th quarter. Bank of America Corp DE now owns 523,047 shares of the oil and gas company's stock worth $16,748,000 after purchasing an additional 441,688 shares during the last quarter. Finally, ExodusPoint Capital Management LP acquired a new position in shares of Helmerich & Payne during the 4th quarter worth about $10,931,000. Institutional investors and hedge funds own 96.05% of the company's stock.
Helmerich & Payne Stock Down 2.8%
Shares of HP traded down $0.45 during midday trading on Friday, hitting $15.54. The stock had a trading volume of 1,671,307 shares, compared to its average volume of 1,769,220. The company has a 50 day simple moving average of $16.66 and a two-hundred day simple moving average of $22.92. Helmerich & Payne, Inc. has a twelve month low of $14.65 and a twelve month high of $42.60. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 7.10 and a beta of 0.82. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.68 and a quick ratio of 1.32.
Helmerich & Payne (NYSE:HP - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.63). Helmerich & Payne had a net margin of 7.15% and a return on equity of 8.25%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $961.03 million. During the same period in the prior year, the business earned $0.84 EPS. The business's revenue for the quarter was up 47.7% compared to the same quarter last year. On average, analysts anticipate that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.
Helmerich & Payne Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 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 6.44%. The ex-dividend date is Friday, August 15th. Helmerich & Payne's payout ratio is currently 45.66%.
Analyst Ratings Changes
Several equities analysts have commented on the company. Citigroup reaffirmed a "neutral" rating and issued a $17.00 price target (down previously from $19.00) on shares of Helmerich & Payne in a report on Thursday, June 26th. Morgan Stanley lowered their price objective on Helmerich & Payne from $27.00 to $20.00 and set an "underweight" rating on the stock in a research note on Friday, May 16th. 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 note on Friday, May 9th. Piper Sandler began coverage on Helmerich & Payne in a research note on Monday, July 14th. They issued a "neutral" rating and a $20.00 price objective on the stock. Finally, Susquehanna lowered their price objective on Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating on the stock in a research note on Tuesday, July 1st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $23.10.
Read Our Latest Research Report on HP
Helmerich & Payne Company Profile
(
Free Report)
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.
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