Orion Portfolio Solutions LLC Trims Position in Helmerich & Payne, Inc. (NYSE:HP)

Orion Portfolio Solutions LLC lessened its stake in shares of Helmerich & Payne, Inc. (NYSE:HPFree Report) by 36.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,581 shares of the oil and gas company’s stock after selling 7,091 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Helmerich & Payne were worth $430,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Oxford Asset Management LLP purchased a new position in Helmerich & Payne during the 4th quarter valued at about $316,000. Franklin Resources Inc. grew its holdings in shares of Helmerich & Payne by 0.9% during the fourth quarter. Franklin Resources Inc. now owns 157,710 shares of the oil and gas company’s stock worth $5,712,000 after purchasing an additional 1,440 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Helmerich & Payne during the fourth quarter worth about $1,307,000. Trexquant Investment LP grew its holdings in shares of Helmerich & Payne by 97.3% during the fourth quarter. Trexquant Investment LP now owns 145,087 shares of the oil and gas company’s stock worth $5,255,000 after purchasing an additional 71,552 shares in the last quarter. Finally, Corient Private Wealth LLC grew its holdings in shares of Helmerich & Payne by 27.3% during the fourth quarter. Corient Private Wealth LLC now owns 19,015 shares of the oil and gas company’s stock worth $689,000 after purchasing an additional 4,075 shares in the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $35.32 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.92 and a current ratio of 2.16. Helmerich & Payne, Inc. has a fifty-two week low of $32.17 and a fifty-two week high of $46.55. The stock has a 50 day moving average price of $39.66 and a two-hundred day moving average price of $38.21. The company has a market capitalization of $3.49 billion, a P/E ratio of 10.09, a PEG ratio of 3.85 and a beta of 1.47.

Helmerich & Payne (NYSE:HPGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.01). Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The company had revenue of $687.94 million during the quarter, compared to the consensus estimate of $682.51 million. During the same quarter in the previous year, the firm posted $1.26 EPS. The business’s revenue for the quarter was down 10.6% compared to the same quarter last year. Analysts expect that Helmerich & Payne, Inc. will post 3.46 earnings per share for the current year.

Helmerich & Payne Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a $0.25 dividend. The ex-dividend date is Friday, August 16th. This represents a $1.00 annualized dividend and a yield of 2.83%. Helmerich & Payne’s payout ratio is currently 28.57%.

Insider Buying and Selling at Helmerich & Payne

In other Helmerich & Payne news, SVP Cara M. Hair sold 9,910 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $40.22, for a total value of $398,580.20. Following the completion of the sale, the senior vice president now owns 137,764 shares in the company, valued at $5,540,868.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Cara M. Hair sold 9,910 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $40.22, for a total transaction of $398,580.20. Following the transaction, the senior vice president now directly owns 137,764 shares of the company’s stock, valued at $5,540,868.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark W. Smith sold 16,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $40.49, for a total value of $647,840.00. Following the transaction, the chief financial officer now directly owns 144,870 shares in the company, valued at $5,865,786.30. The disclosure for this sale can be found here. Corporate insiders own 4.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on HP shares. Citigroup boosted their price objective on Helmerich & Payne from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Susquehanna cut their price objective on Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating for the company in a report on Friday, April 26th. Piper Sandler cut their price objective on Helmerich & Payne from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Finally, Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $42.00.

Read Our Latest Research Report on Helmerich & Payne

Helmerich & Payne Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Helmerich & Payne (NYSE:HP)

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