Bank of New York Mellon Corp Reduces Position in Helmerich & Payne, Inc. (NYSE:HP)

Bank of New York Mellon Corp cut its holdings in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 2.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,092,101 shares of the oil and gas company's stock after selling 29,641 shares during the period. Bank of New York Mellon Corp owned approximately 1.10% of Helmerich & Payne worth $28,526,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Proficio Capital Partners LLC acquired a new stake in Helmerich & Payne during the fourth quarter worth about $469,000. Raymond James Financial Inc. acquired a new stake in Helmerich & Payne during the fourth quarter worth about $2,788,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Helmerich & Payne by 14.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,306 shares of the oil and gas company's stock worth $810,000 after buying an additional 3,206 shares in the last quarter. Swiss National Bank grew its stake in Helmerich & Payne by 0.8% during the fourth quarter. Swiss National Bank now owns 194,300 shares of the oil and gas company's stock worth $6,221,000 after buying an additional 1,500 shares in the last quarter. Finally, Natixis Advisors LLC grew its stake in Helmerich & Payne by 4.1% during the fourth quarter. Natixis Advisors LLC now owns 22,239 shares of the oil and gas company's stock worth $712,000 after buying an additional 870 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Helmerich & Payne Stock Down 2.8%

HP stock traded down $0.45 during midday trading on Friday, reaching $15.54. 1,671,307 shares of the company's stock traded hands, compared to its average volume of 1,769,220. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 7.10 and a beta of 0.82. The firm's fifty day moving average price is $16.66 and its 200-day moving average price is $22.92. The company has a quick ratio of 1.32, a current ratio of 1.68 and a debt-to-equity ratio of 0.73. Helmerich & Payne, Inc. has a 52 week low of $14.65 and a 52 week 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 EPS for the quarter, missing analysts' consensus estimates of $0.65 by ($0.63). The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $961.03 million. Helmerich & Payne had a net margin of 7.15% and a return on equity of 8.25%. The business's revenue for the quarter was up 47.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 EPS. As a group, sell-side analysts forecast that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $0.25 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 6.44%. Helmerich & Payne's payout ratio is 45.66%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HP. Wall Street Zen downgraded shares of Helmerich & Payne from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Citigroup restated a "neutral" rating and issued a $17.00 price target (down from $19.00) on shares of Helmerich & Payne in a research note on Thursday, June 26th. JPMorgan Chase & Co. reduced their price target on shares of Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Piper Sandler initiated coverage on shares of Helmerich & Payne in a research report on Monday, July 14th. They set a "neutral" rating and a $20.00 target price on the stock. Finally, Susquehanna cut their target price on shares of Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating on the stock in a research report on Tuesday, July 1st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $23.10.

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.