New York State Common Retirement Fund Sells 697,697 Shares of Helmerich & Payne, Inc. (NYSE:HP)

New York State Common Retirement Fund lowered its position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 80.8% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 165,452 shares of the oil and gas company's stock after selling 697,697 shares during the quarter. New York State Common Retirement Fund owned about 0.17% of Helmerich & Payne worth $4,322,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. lifted its holdings in shares of Helmerich & Payne by 4.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,113 shares of the oil and gas company's stock valued at $324,000 after buying an additional 395 shares during the period. LPL Financial LLC raised its holdings in Helmerich & Payne by 1.9% in the 4th quarter. LPL Financial LLC now owns 21,763 shares of the oil and gas company's stock worth $697,000 after purchasing an additional 408 shares during the period. Ellis Investment Partners LLC grew its holdings in Helmerich & Payne by 4.5% in the first quarter. Ellis Investment Partners LLC now owns 12,999 shares of the oil and gas company's stock valued at $340,000 after purchasing an additional 558 shares during the period. Xponance Inc. grew its holdings in Helmerich & Payne by 7.6% in the first quarter. Xponance Inc. now owns 8,294 shares of the oil and gas company's stock valued at $217,000 after purchasing an additional 587 shares during the period. Finally, Versant Capital Management Inc increased its stake in Helmerich & Payne by 104.2% during the 1st quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company's stock worth $44,000 after buying an additional 867 shares in the last quarter. Institutional investors and hedge funds own 96.05% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on HP. Citigroup reiterated a "neutral" rating and issued a $17.00 price objective (down from $19.00) on shares of Helmerich & Payne in a report on Thursday, June 26th. Piper Sandler began coverage on Helmerich & Payne in a research note on Monday, July 14th. They set a "neutral" rating and a $20.00 price target on the stock. TD Cowen decreased their price target 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. The Goldman Sachs Group decreased their price target on Helmerich & Payne from $25.00 to $17.00 and set a "sell" rating on the stock in a research note on Tuesday, June 24th. Finally, JPMorgan Chase & Co. decreased their price target 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. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $23.10.

Helmerich & Payne Price Performance

HP stock traded down $0.42 on Thursday, hitting $16.64. 1,340,049 shares of the company's stock traded hands, compared to its average volume of 1,932,476. Helmerich & Payne, Inc. has a 1-year low of $14.65 and a 1-year high of $42.60. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 7.60 and a beta of 0.82. The stock has a fifty day moving average of $16.52 and a 200-day moving average of $22.68. The company has a current ratio of 1.68, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 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 analysts' expectations of $961.03 million. During the same quarter last year, the company posted $0.84 EPS. The firm's revenue was up 47.7% compared to the same quarter last year. On average, analysts forecast that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 6.01%. The ex-dividend date of this dividend is Friday, August 15th. Helmerich & Payne's dividend payout ratio (DPR) is presently 45.66%.

Helmerich & Payne Company 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.