Raymond James Financial Services Advisors Inc. Sells 11,277 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Raymond James Financial Services Advisors Inc. cut its holdings in Helmerich & Payne, Inc. (NYSE:HP – Get Rating) by 12.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,795 shares of the oil and gas company’s stock after selling 11,277 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Helmerich & Payne were worth $3,856,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in HP. JPMorgan Chase & Co. raised its position in shares of Helmerich & Payne by 2.2% in the 1st quarter. JPMorgan Chase & Co. now owns 328,890 shares of the oil and gas company’s stock worth $14,071,000 after acquiring an additional 7,160 shares in the last quarter. Raymond James & Associates grew its stake in shares of Helmerich & Payne by 3.9% in the 1st quarter. Raymond James & Associates now owns 18,667 shares of the oil and gas company’s stock valued at $799,000 after buying an additional 709 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Helmerich & Payne in the 1st quarter valued at about $353,000. HighTower Advisors LLC grew its stake in shares of Helmerich & Payne by 4.2% in the 1st quarter. HighTower Advisors LLC now owns 18,629 shares of the oil and gas company’s stock valued at $799,000 after buying an additional 743 shares during the period. Finally, Private Advisor Group LLC acquired a new stake in shares of Helmerich & Payne in the 1st quarter valued at about $272,000. 92.42% of the stock is owned by institutional investors.

Helmerich & Payne Price Performance

Helmerich & Payne stock opened at $32.50 on Friday. Helmerich & Payne, Inc. has a 52 week low of $30.41 and a 52 week high of $54.59. The company’s 50 day moving average price is $34.79 and its two-hundred day moving average price is $43.02. The company has a quick ratio of 2.19, a current ratio of 2.43 and a debt-to-equity ratio of 0.20. The stock has a market cap of $3.33 billion, a P/E ratio of 10.69 and a beta of 1.65.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Thursday, May 18th will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Wednesday, May 17th. This represents a $1.94 annualized dividend and a dividend yield of 5.97%. Helmerich & Payne’s dividend payout ratio is currently 32.89%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on HP shares. Barclays reduced their target price on Helmerich & Payne from $65.00 to $52.00 in a research note on Tuesday, May 9th. Piper Sandler reduced their target price on Helmerich & Payne from $65.00 to $50.00 in a research note on Monday, May 1st. StockNews.com downgraded Helmerich & Payne from a “buy” rating to a “hold” rating in a research note on Monday, May 15th. The Goldman Sachs Group cut their price target on Helmerich & Payne from $44.00 to $38.00 and set a “sell” rating for the company in a research note on Monday, March 27th. Finally, Morgan Stanley downgraded Helmerich & Payne from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $60.00 to $45.00 in a research note on Tuesday, April 18th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $54.40.

About Helmerich & Payne

(Get Rating)

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.