Invesco Ltd. Reduces Stock Holdings in Helmerich & Payne, Inc. (NYSE:HP)

Invesco Ltd. cut its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 8.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,168,326 shares of the oil and gas company’s stock after selling 208,760 shares during the period. Invesco Ltd. owned about 2.18% of Helmerich & Payne worth $69,430,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. raised its position in Helmerich & Payne by 18.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 413,542 shares of the oil and gas company’s stock worth $13,242,000 after acquiring an additional 64,971 shares during the last quarter. Private Capital Management LLC purchased a new position in shares of Helmerich & Payne during the 3rd quarter worth approximately $1,095,000. Fisher Asset Management LLC raised its position in shares of Helmerich & Payne by 4.6% during the 4th quarter. Fisher Asset Management LLC now owns 1,413,749 shares of the oil and gas company’s stock worth $45,268,000 after purchasing an additional 62,377 shares during the last quarter. Legato Capital Management LLC lifted its stake in Helmerich & Payne by 93.9% in the 4th quarter. Legato Capital Management LLC now owns 76,064 shares of the oil and gas company’s stock valued at $2,436,000 after buying an additional 36,828 shares in the last quarter. Finally, Magnetar Financial LLC increased its position in Helmerich & Payne by 389.3% during the fourth quarter. Magnetar Financial LLC now owns 38,754 shares of the oil and gas company’s stock worth $1,241,000 after buying an additional 30,833 shares in the last quarter. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Helmerich & Payne

In other news, CEO John W. Lindsay acquired 20,000 shares of the stock in a transaction on Monday, February 10th. The stock was bought at an average price of $27.55 per share, with a total value of $551,000.00. Following the completion of the transaction, the chief executive officer now directly owns 691,214 shares of the company’s stock, valued at $19,042,945.70. The trade was a 2.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Belgacem Chariag bought 37,356 shares of Helmerich & Payne stock in a transaction dated Monday, February 10th. The shares were purchased at an average cost of $27.08 per share, for a total transaction of $1,011,600.48. Following the completion of the transaction, 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. 4.51% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HP. Barclays reduced their price objective on Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. The Goldman Sachs Group decreased their price target on shares of Helmerich & Payne from $32.00 to $25.00 and set a “sell” rating on the stock in a research note on Thursday, April 10th. Susquehanna reduced their price objective on shares of Helmerich & Payne from $43.00 to $28.00 and set a “positive” rating on the stock in a research note on Monday. Evercore ISI restated an “in-line” rating and set a $39.00 price objective (down previously from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $27.00 target price on shares of Helmerich & Payne in a research report on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $31.78.

Helmerich & Payne Stock Performance

NYSE HP opened at $19.21 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.52. Helmerich & Payne, Inc. has a 1-year low of $17.82 and a 1-year high of $42.68. The firm has a market capitalization of $1.91 billion, a P/E ratio of 6.32, a P/E/G ratio of 3.52 and a beta of 1.00. The business’s 50-day simple moving average is $24.85 and its 200-day simple moving average is $30.73.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. Equities analysts predict that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be issued a $0.25 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.00 annualized dividend and a yield of 5.21%. Helmerich & Payne’s dividend payout ratio is currently 32.89%.

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.