Helmerich & Payne, Inc. $HP Stake Cut by Northern Trust Corp

Key Points

• Northern Trust Corp reduced its stake in Helmerich & Payne, Inc. by 5.0%, selling 84,126 shares, and now holds approximately 1.63% of the company valued at $42.19 million.
• Several institutional investors have adjusted their stakes, with notable increases from Raymond James Financial Inc. by 58.2% and American Century Companies Inc. by 12.2% during the same quarter.
• Helmerich & Payne reported a positive quarterly earnings result with $0.22 EPS, beating estimates, and announced a quarterly dividend of $0.25, indicating a dividend yield of 4.9%.

Northern Trust Corp decreased its stake in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 5.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,615,262 shares of the oil and gas company's stock after selling 84,126 shares during the period. Northern Trust Corp owned about 1.63% of Helmerich & Payne worth $42,191,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc lifted its position in Helmerich & Payne by 104.2% during the first quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company's stock valued at $44,000 after purchasing an additional 867 shares during the last quarter. GAMMA Investing LLC increased its stake 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 buying an additional 1,459 shares during the period. Tower Research Capital LLC TRC increased its position in Helmerich & Payne by 120.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,533 shares of the oil and gas company's stock valued at $113,000 after purchasing an additional 1,932 shares during the period. CWM LLC increased its position in Helmerich & Payne by 37.8% during the 1st quarter. CWM LLC now owns 5,671 shares of the oil and gas company's stock valued at $148,000 after purchasing an additional 1,555 shares during the period. Finally, Park Avenue Securities LLC boosted its holdings in shares of Helmerich & Payne by 21.5% in the 1st quarter. Park Avenue Securities LLC now owns 7,925 shares of the oil and gas company's stock valued at $207,000 after buying an additional 1,400 shares in the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Helmerich & Payne news, CAO Sara Marie Momper sold 6,700 shares of Helmerich & Payne stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $17.83, for a total transaction of $119,461.00. Following the sale, the chief accounting officer directly owned 21,908 shares in the company, valued at $390,619.64. The trade was a 23.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.51% of the company's stock.

Helmerich & Payne Stock Performance

Shares of NYSE HP traded up $0.20 during mid-day trading on Tuesday, hitting $21.09. 824,478 shares of the company were exchanged, compared to its average volume of 1,992,293. Helmerich & Payne, Inc. has a 1-year low of $14.65 and a 1-year high of $37.46. The company has a quick ratio of 1.43, a current ratio of 1.84 and a debt-to-equity ratio of 0.76. The stock has a 50 day simple moving average of $17.01 and a 200-day simple moving average of $19.59. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of -63.95 and a beta of 0.94.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Zacks Research upgraded shares of Helmerich & Payne to a "hold" rating in a research note on Monday, August 11th. Barclays cut their target price on shares of Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating for the company in a report on Friday, June 20th. Susquehanna cut their price target on shares of Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating for the company in a report on Tuesday, July 1st. Citigroup reaffirmed a "neutral" rating and set a $17.00 target price (down previously from $19.00) on shares of Helmerich & Payne in a report on Thursday, June 26th. Finally, Piper Sandler boosted their price target on shares of Helmerich & Payne from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Thursday, August 14th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Helmerich & Payne currently has an average rating of "Reduce" and a consensus target price of $22.20.

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.