Bank of New York Mellon Corp Sells 29,641 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Bank of New York Mellon Corp lessened its position in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 2.6% in the first quarter, according to its most recent disclosure with the SEC. The firm 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.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Earnest Partners LLC lifted its holdings in shares of Helmerich & Payne by 1.0% in the fourth quarter. Earnest Partners LLC now owns 3,487,019 shares of the oil and gas company's stock valued at $111,654,000 after purchasing an additional 35,013 shares in the last quarter. American Century Companies Inc. lifted its holdings in Helmerich & Payne by 14.0% during the fourth quarter. American Century Companies Inc. now owns 2,658,356 shares of the oil and gas company's stock worth $85,121,000 after acquiring an additional 327,374 shares during the period. Northern Trust Corp lifted its holdings in Helmerich & Payne by 5.1% during the fourth quarter. Northern Trust Corp now owns 1,699,388 shares of the oil and gas company's stock worth $54,414,000 after acquiring an additional 82,254 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Helmerich & Payne by 9.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,270,321 shares of the oil and gas company's stock worth $40,676,000 after acquiring an additional 109,035 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in Helmerich & Payne during the fourth quarter worth $28,708,000. Institutional investors and hedge funds own 96.05% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on HP. TD Cowen dropped their price target on Helmerich & Payne from $28.00 to $26.00 and set a "hold" rating on the stock in a report on Friday, May 9th. JPMorgan Chase & Co. lowered their target price on Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Citigroup restated a "neutral" rating and issued a $17.00 target price (down from $19.00) on shares of Helmerich & Payne in a research note on Thursday, June 26th. Barclays lowered their target price on Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Friday, June 20th. Finally, Morgan Stanley lowered their target price 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. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Helmerich & Payne has an average rating of "Hold" and a consensus target price of $23.10.

Helmerich & Payne Stock Performance

Shares of NYSE:HP traded down $0.45 during midday trading on Friday, reaching $15.54. 1,669,019 shares of the company traded hands, compared to its average volume of 1,771,329. 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 12 month low of $14.65 and a 12 month high of $42.60. The firm has a market capitalization 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 $16.72 and its two-hundred day moving average price is $23.10.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.65 by ($0.63). Helmerich & Payne had a net margin of 7.15% and a return on equity of 8.25%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $961.03 million. During the same quarter in the previous year, the firm posted $0.84 earnings per share. The business's revenue for the quarter was up 47.7% compared to the same quarter last year. On average, equities analysts expect that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

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

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.