Commonwealth Equity Services LLC Trims Stock Position in Helmerich & Payne, Inc. (NYSE:HP)

Commonwealth Equity Services LLC lessened its stake in Helmerich & Payne, Inc. (NYSE:HP – Get Rating) by 17.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,517 shares of the oil and gas company’s stock after selling 4,733 shares during the period. Commonwealth Equity Services LLC’s holdings in Helmerich & Payne were worth $1,116,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in HP. Goldman Sachs Group Inc. grew its position in shares of Helmerich & Payne by 260.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,173,965 shares of the oil and gas company’s stock valued at $50,222,000 after purchasing an additional 848,198 shares in the last quarter. Invesco Ltd. grew its holdings in Helmerich & Payne by 157.8% in the 1st quarter. Invesco Ltd. now owns 1,254,467 shares of the oil and gas company’s stock valued at $53,667,000 after buying an additional 767,791 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Helmerich & Payne by 83.1% in the 1st quarter. Capital Research Global Investors now owns 1,278,249 shares of the oil and gas company’s stock worth $54,683,000 after acquiring an additional 579,949 shares during the last quarter. State Street Corp raised its holdings in shares of Helmerich & Payne by 6.7% during the 1st quarter. State Street Corp now owns 4,281,289 shares of the oil and gas company’s stock worth $183,154,000 after acquiring an additional 267,025 shares during the period. Finally, Allianz Asset Management GmbH boosted its position in shares of Helmerich & Payne by 51.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 453,497 shares of the oil and gas company’s stock valued at $16,766,000 after acquiring an additional 153,515 shares during the last quarter. 92.42% of the stock is owned by hedge funds and other institutional investors.

Helmerich & Payne Stock Down 0.7 %

HP opened at $32.50 on Monday. Helmerich & Payne, Inc. has a one year low of $30.41 and a one year high of $54.59. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.19 and a current ratio of 2.43. The stock has a market capitalization of $3.33 billion, a P/E ratio of 10.69 and a beta of 1.65. The business’s 50-day simple moving average is $34.79 and its 200-day simple moving average is $42.99.

Helmerich & Payne Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Morgan Stanley downgraded shares of Helmerich & Payne from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $60.00 to $45.00 in a research note on Tuesday, April 18th. Susquehanna reduced their target price on Helmerich & Payne from $72.00 to $55.00 in a research report on Monday, April 3rd. StockNews.com cut Helmerich & Payne from a “buy” rating to a “hold” rating in a report on Monday, May 15th. Piper Sandler decreased their price target on Helmerich & Payne from $65.00 to $50.00 in a research note on Monday, May 1st. Finally, TheStreet upgraded shares of Helmerich & Payne from a “c+” rating to a “b” rating in a research note on Monday, January 30th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $54.40.

Helmerich & Payne Company 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.