Renaissance Technologies LLC Cuts Stock Position in Helmerich & Payne, Inc. (NYSE:HP)

Renaissance Technologies LLC lessened its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 94.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,600 shares of the oil and gas company’s stock after selling 228,601 shares during the period. Renaissance Technologies LLC’s holdings in Helmerich & Payne were worth $403,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. LPL Financial LLC boosted its stake in Helmerich & Payne by 1.9% during the fourth quarter. LPL Financial LLC now owns 21,763 shares of the oil and gas company’s stock worth $697,000 after buying an additional 408 shares during the period. Napatree Capital LLC grew its holdings in Helmerich & Payne by 2.5% during the 4th quarter. Napatree Capital LLC now owns 20,847 shares of the oil and gas company’s stock valued at $668,000 after purchasing an additional 511 shares during the last quarter. Franklin Resources Inc. raised its position in Helmerich & Payne by 0.4% in the 3rd quarter. Franklin Resources Inc. now owns 157,568 shares of the oil and gas company’s stock worth $4,793,000 after purchasing an additional 666 shares during the period. Kestra Investment Management LLC bought a new stake in Helmerich & Payne in the fourth quarter worth about $27,000. Finally, Natixis Advisors LLC boosted its position in shares of Helmerich & Payne by 4.1% during the fourth quarter. Natixis Advisors LLC now owns 22,239 shares of the oil and gas company’s stock valued at $712,000 after buying an additional 870 shares during the period. 96.05% of the stock is owned by hedge funds and other institutional investors.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $20.25 on Monday. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 6.66, a PEG ratio of 3.52 and a beta of 1.00. Helmerich & Payne, Inc. has a 52-week low of $17.82 and a 52-week high of $42.60. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60. The company’s 50 day moving average is $22.89 and its 200 day moving average is $29.34.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. On average, sell-side analysts anticipate that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.94%. The ex-dividend date is Thursday, May 15th. Helmerich & Payne’s payout ratio is 32.89%.

Insider Activity

In other Helmerich & Payne news, CEO John W. Lindsay purchased 20,000 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was bought at an average cost of $27.55 per share, for a total transaction of $551,000.00. Following the completion of the purchase, the chief executive officer now owns 691,214 shares in the company, valued at $19,042,945.70. This represents a 2.98 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Belgacem Chariag purchased 37,356 shares of the stock in a transaction on Monday, February 10th. The stock was acquired at an average cost of $27.08 per share, with a total value of $1,011,600.48. Following the acquisition, the director now owns 54,606 shares of the company’s stock, valued at approximately $1,478,730.48. This represents a 216.56 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 4.51% of the company’s stock.

Analysts Set New Price Targets

HP has been the subject of a number of research analyst reports. Susquehanna decreased their price target on Helmerich & Payne from $43.00 to $28.00 and set a “positive” rating for the company in a research note on Monday, April 14th. Evercore ISI restated an “in-line” rating and issued a $39.00 price target (down from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. Barclays reduced their price target on shares of Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada lowered their price objective on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a research report on Friday, February 7th. Finally, Argus raised shares of Helmerich & Payne to a “hold” rating in a research report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.78.

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.