Clearbridge Investments LLC lowered its position in shares of Helmerich & Payne, Inc. (NYSE:HP – Free Report) by 23.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 272,647 shares of the oil and gas company’s stock after selling 83,550 shares during the period. Clearbridge Investments LLC owned approximately 0.27% of Helmerich & Payne worth $9,747,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the company. UBS Group AG grew its stake in shares of Helmerich & Payne by 25.0% in the first quarter. UBS Group AG now owns 260,911 shares of the oil and gas company’s stock worth $9,328,000 after acquiring an additional 52,178 shares during the period. Sei Investments Co. lifted its holdings in shares of Helmerich & Payne by 229.8% during the 1st quarter. Sei Investments Co. now owns 162,784 shares of the oil and gas company’s stock valued at $5,820,000 after buying an additional 113,420 shares during the period. Itau Unibanco Holding S.A. bought a new stake in shares of Helmerich & Payne in the first quarter worth $168,000. Martingale Asset Management L P purchased a new stake in Helmerich & Payne during the first quarter valued at $703,000. Finally, Pearl River Capital LLC lifted its holdings in Helmerich & Payne by 182.5% in the first quarter. Pearl River Capital LLC now owns 40,989 shares of the oil and gas company’s stock valued at $1,465,000 after acquiring an additional 26,481 shares during the period. 96.05% of the stock is currently owned by hedge funds and other institutional investors.
Helmerich & Payne Stock Down 0.8 %
Shares of HP opened at $42.22 on Thursday. Helmerich & Payne, Inc. has a 12-month low of $30.41 and a 12-month high of $54.45. The company has a current ratio of 2.29, a quick ratio of 2.06 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $4.20 billion, a PE ratio of 11.08 and a beta of 1.72. The business’s 50 day moving average is $40.61 and its 200 day moving average is $37.39.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the stock. Royal Bank of Canada lowered shares of Helmerich & Payne from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $53.00 to $45.00 in a research report on Monday, July 10th. Capital One Financial assumed coverage on shares of Helmerich & Payne in a research report on Wednesday, June 28th. They issued an “equal weight” rating and a $40.00 price target on the stock. Morgan Stanley restated an “underweight” rating and issued a $42.00 price objective on shares of Helmerich & Payne in a research note on Monday, July 31st. Benchmark upgraded Helmerich & Payne from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, Susquehanna reduced their price target on Helmerich & Payne from $45.00 to $40.00 in a research report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $49.09.
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.
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