State of Tennessee Department of Treasury Has $773,000 Stake in Helmerich & Payne, Inc. (NYSE:HP)

State of Tennessee Department of Treasury lessened its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 39.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,138 shares of the oil and gas company's stock after selling 15,996 shares during the quarter. State of Tennessee Department of Treasury's holdings in Helmerich & Payne were worth $773,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Helmerich & Payne by 18.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 413,542 shares of the oil and gas company's stock worth $13,242,000 after buying an additional 64,971 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Helmerich & Payne during the fourth quarter worth approximately $2,788,000. Private Capital Management LLC acquired a new position in shares of Helmerich & Payne in the third quarter valued at approximately $1,095,000. Fisher Asset Management LLC increased its stake in shares of Helmerich & Payne by 4.6% during the fourth quarter. Fisher Asset Management LLC now owns 1,413,749 shares of the oil and gas company's stock worth $45,268,000 after purchasing an additional 62,377 shares during the period. Finally, Legato Capital Management LLC lifted its holdings in Helmerich & Payne by 93.9% during the 4th quarter. Legato Capital Management LLC now owns 76,064 shares of the oil and gas company's stock worth $2,436,000 after purchasing an additional 36,828 shares during the last quarter. Institutional investors own 96.05% of the company's stock.

Insider Activity

In other Helmerich & Payne news, CEO John W. Lindsay bought 20,000 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were acquired at an average cost of $27.55 per share, for a total transaction of $551,000.00. Following the transaction, the chief executive officer now directly owns 691,214 shares in the company, valued at approximately $19,042,945.70. This represents a 2.98 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Belgacem Chariag purchased 37,356 shares of the firm's stock in a transaction on Monday, February 10th. The stock was acquired at an average price of $27.08 per share, with a total value of $1,011,600.48. Following the completion of the transaction, the director now owns 54,606 shares in the company, valued at approximately $1,478,730.48. This trade represents a 216.56 % increase in their position. The disclosure for this purchase can be found here. 4.51% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on HP. Morgan Stanley reaffirmed an "underweight" rating and issued a $27.00 price objective on shares of Helmerich & Payne in a report on Thursday, March 27th. Evercore ISI reaffirmed an "in-line" rating and set a $39.00 price target (down from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Susquehanna cut their price objective on shares of Helmerich & Payne from $43.00 to $28.00 and set a "positive" rating for the company in a report on Monday, April 14th. Barclays dropped their price target on shares of Helmerich & Payne from $36.00 to $24.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 19th. Finally, Argus raised Helmerich & Payne to a "hold" rating in a research report on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $31.78.

Helmerich & Payne Price Performance

Helmerich & Payne stock traded down $0.06 during midday trading on Wednesday, reaching $19.15. The company's stock had a trading volume of 872,412 shares, compared to its average volume of 1,526,208. The company has a current ratio of 2.81, a quick ratio of 2.52 and a debt-to-equity ratio of 0.60. The stock has a market cap of $1.90 billion, a PE ratio of 6.30, a price-to-earnings-growth ratio of 3.52 and a beta of 0.93. Helmerich & Payne, Inc. has a 52 week low of $17.82 and a 52 week high of $42.60. The business has a 50-day moving average price of $22.61 and a 200-day moving average price of $29.16.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. On average, sell-side analysts predict that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, May 15th. This represents a $1.00 annualized dividend and a dividend yield of 5.22%. Helmerich & Payne's dividend payout ratio (DPR) is presently 32.89%.

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.