Clearbridge Investments LLC Cuts Stock Holdings in Helmerich & Payne, Inc. (NYSE:HP)

Clearbridge Investments LLC lowered its position in shares of Helmerich & Payne, Inc. (NYSE:HP) 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.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.89 by $0.20. Helmerich & Payne had a net margin of 14.14% and a return on equity of 14.98%. The business had revenue of $723.96 million for the quarter, compared to analysts’ expectations of $702.05 million. Research analysts expect that Helmerich & Payne, Inc. will post 4.11 earnings per share for the current fiscal year.

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.