Helmerich & Payne, Inc. (NYSE:HP) Shares Sold by Arizona State Retirement System

Arizona State Retirement System trimmed its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 4.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,794 shares of the oil and gas company’s stock after selling 1,416 shares during the period. Arizona State Retirement System’s holdings in Helmerich & Payne were worth $1,007,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Helmerich & Payne by 1.8% during the 1st quarter. BlackRock Inc. now owns 17,910,973 shares of the oil and gas company’s stock valued at $640,317,000 after purchasing an additional 319,188 shares during the period. Vanguard Group Inc. raised its position in shares of Helmerich & Payne by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 11,891,665 shares of the oil and gas company’s stock worth $439,634,000 after buying an additional 86,545 shares in the last quarter. State Street Corp raised its position in shares of Helmerich & Payne by 7.7% during the 1st quarter. State Street Corp now owns 4,335,243 shares of the oil and gas company’s stock worth $154,985,000 after buying an additional 310,770 shares in the last quarter. Earnest Partners LLC raised its position in shares of Helmerich & Payne by 4.0% during the 3rd quarter. Earnest Partners LLC now owns 2,929,498 shares of the oil and gas company’s stock worth $123,508,000 after buying an additional 113,735 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of Helmerich & Payne by 130.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,720,464 shares of the oil and gas company’s stock worth $98,535,000 after buying an additional 1,541,987 shares in the last quarter. 96.05% of the stock is owned by institutional investors and hedge funds.

Helmerich & Payne Stock Down 0.4 %

HP stock opened at $41.62 on Tuesday. Helmerich & Payne, Inc. has a 52-week low of $30.41 and a 52-week high of $46.55. The company’s 50 day simple moving average is $40.18 and its 200-day simple moving average is $38.61. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.11 and a quick ratio of 1.89. The firm has a market capitalization of $4.11 billion, a P/E ratio of 9.93, a P/E/G ratio of 8.76 and a beta of 1.51.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Tuesday, January 30th. The oil and gas company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.24. Helmerich & Payne had a net margin of 15.27% and a return on equity of 15.06%. The business had revenue of $677.00 million for the quarter, compared to analyst estimates of $661.81 million. During the same quarter in the previous year, the business earned $1.11 earnings per share. The firm’s revenue was down 6.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Helmerich & Payne, Inc. will post 3.59 EPS for the current year.

Helmerich & Payne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.04%. Helmerich & Payne’s dividend payout ratio is currently 23.87%.

Wall Street Analyst Weigh In

A number of research firms have commented on HP. Susquehanna boosted their price target on shares of Helmerich & Payne from $50.00 to $52.00 and gave the stock a “positive” rating in a research report on Monday, April 8th. Barclays downgraded shares of Helmerich & Payne from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $44.00 to $40.00 in a research report on Wednesday, January 10th. Benchmark downgraded shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Royal Bank of Canada boosted their price target on shares of Helmerich & Payne from $46.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. Finally, Piper Sandler boosted their target price on shares of Helmerich & Payne from $41.00 to $44.00 and gave the stock a “neutral” rating in a report on Tuesday, February 20th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $42.88.

Helmerich & Payne Company Profile

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.