Helmerich & Payne, Inc. (NYSE:HP) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its position in Helmerich & Payne, Inc. (NYSE:HPGet Rating) by 37.7% in the 2nd quarter, Holdings Channel reports. The firm owned 38,370 shares of the oil and gas company’s stock after selling 23,207 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Helmerich & Payne were worth $1,652,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in HP. Maryland State Retirement & Pension System raised its holdings in shares of Helmerich & Payne by 0.8% during the 2nd quarter. Maryland State Retirement & Pension System now owns 42,664 shares of the oil and gas company’s stock worth $1,837,000 after acquiring an additional 356 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Helmerich & Payne by 23.3% during the 1st quarter. Quadrant Capital Group LLC now owns 2,183 shares of the oil and gas company’s stock worth $94,000 after acquiring an additional 412 shares during the period. Mutual of America Capital Management LLC raised its holdings in shares of Helmerich & Payne by 3.1% during the 1st quarter. Mutual of America Capital Management LLC now owns 15,203 shares of the oil and gas company’s stock worth $650,000 after acquiring an additional 461 shares during the period. Centennial Wealth Advisory LLC raised its holdings in shares of Helmerich & Payne by 11.7% during the 2nd quarter. Centennial Wealth Advisory LLC now owns 5,538 shares of the oil and gas company’s stock worth $238,000 after acquiring an additional 582 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Helmerich & Payne by 2.8% during the 2nd quarter. Victory Capital Management Inc. now owns 22,677 shares of the oil and gas company’s stock worth $976,000 after acquiring an additional 616 shares during the period. 94.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on HP shares. StockNews.com started coverage on Helmerich & Payne in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Barclays boosted their price objective on shares of Helmerich & Payne to $58.00 in a report on Tuesday, August 9th. Susquehanna boosted their price objective on shares of Helmerich & Payne from $62.00 to $65.00 and gave the company a “positive” rating in a report on Friday. Piper Sandler boosted their price objective on shares of Helmerich & Payne from $61.00 to $65.00 and gave the company an “overweight” rating in a report on Friday. Finally, Susquehanna Bancshares boosted their price objective on shares of Helmerich & Payne from $62.00 to $65.00 and gave the company a “positive” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Helmerich & Payne has an average rating of “Moderate Buy” and an average target price of $57.33.

Insider Transactions at Helmerich & Payne

In other news, SVP John R. Bell sold 4,314 shares of the business’s stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $50.00, for a total transaction of $215,700.00. Following the completion of the transaction, the senior vice president now directly owns 117,395 shares of the company’s stock, valued at $5,869,750. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP John R. Bell sold 4,314 shares of the business’s stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $50.00, for a total transaction of $215,700.00. Following the completion of the sale, the senior vice president now owns 117,395 shares in the company, valued at $5,869,750. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Raymond John Adams III sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $47.50, for a total value of $71,250.00. Following the sale, the senior vice president now owns 52,935 shares of the company’s stock, valued at approximately $2,514,412.50. The disclosure for this sale can be found here. Corporate insiders own 4.35% of the company’s stock.

Helmerich & Payne Stock Performance

NYSE HP opened at $53.70 on Monday. The company has a market cap of $5.65 billion, a P/E ratio of 1,074.21 and a beta of 1.75. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.54 and a quick ratio of 2.14. The stock has a 50-day moving average of $44.97 and a two-hundred day moving average of $44.56. Helmerich & Payne, Inc. has a 1-year low of $20.93 and a 1-year high of $54.59.

Helmerich & Payne (NYSE:HPGet Rating) last announced its quarterly earnings data on Thursday, November 17th. The oil and gas company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. Helmerich & Payne had a return on equity of 0.45% and a net margin of 0.34%. The business had revenue of $631.33 million during the quarter, compared to the consensus estimate of $597.29 million. During the same period in the previous year, the company posted ($0.62) earnings per share. The business’s revenue for the quarter was up 83.6% on a year-over-year basis. As a group, analysts anticipate that Helmerich & Payne, Inc. will post 3.77 EPS for the current year.

Helmerich & Payne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Tuesday, November 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Monday, November 14th. Helmerich & Payne’s dividend payout ratio is presently 2,000.40%.

Helmerich & Payne Profile

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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.

Further Reading

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Institutional Ownership by Quarter for Helmerich & Payne (NYSE:HP)

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