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

Louisiana State Employees Retirement System reduced its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 1.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 46,800 shares of the oil and gas company’s stock after selling 900 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Helmerich & Payne were worth $1,222,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Balyasny Asset Management L.P. acquired a new stake in Helmerich & Payne in the 4th quarter valued at approximately $28,708,000. Norges Bank bought a new stake in shares of Helmerich & Payne during the 4th quarter worth $21,572,000. Bank of America Corp DE boosted its stake in shares of Helmerich & Payne by 542.9% during the 4th quarter. Bank of America Corp DE now owns 523,047 shares of the oil and gas company’s stock worth $16,748,000 after acquiring an additional 441,688 shares in the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of Helmerich & Payne during the 4th quarter worth $10,931,000. Finally, American Century Companies Inc. boosted its stake in shares of Helmerich & Payne by 14.0% during the 4th quarter. American Century Companies Inc. now owns 2,658,356 shares of the oil and gas company’s stock worth $85,121,000 after acquiring an additional 327,374 shares in the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on HP shares. Barclays decreased their target price on Helmerich & Payne from $20.00 to $17.00 and set an “equal weight” rating for the company in a research report on Friday, June 20th. Wall Street Zen lowered Helmerich & Payne from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. cut their target price on Helmerich & Payne from $25.00 to $17.00 and set a “neutral” rating on the stock in a report on Wednesday, May 28th. Morgan Stanley cut their target price on Helmerich & Payne from $27.00 to $20.00 and set an “underweight” rating on the stock in a report on Friday, May 16th. Finally, Piper Sandler initiated coverage on Helmerich & Payne in a research note on Monday. They issued a “neutral” rating and a $20.00 price objective on the stock. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Helmerich & Payne presently has a consensus rating of “Hold” and an average target price of $23.10.

Helmerich & Payne Stock Performance

HP stock opened at $16.00 on Friday. The business’s fifty day moving average is $16.72 and its 200-day moving average is $23.10. The company has a quick ratio of 1.32, a current ratio of 1.68 and a debt-to-equity ratio of 0.73. The company has a market cap of $1.59 billion, a P/E ratio of 7.30 and a beta of 0.82. Helmerich & Payne, Inc. has a twelve month low of $14.65 and a twelve month high of $42.60.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.63). Helmerich & Payne had a net margin of 7.15% and a return on equity of 8.25%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $961.03 million. During the same quarter in the prior year, the company earned $0.84 EPS. Helmerich & Payne’s quarterly revenue was up 47.7% on a year-over-year basis. Equities research analysts forecast that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 6.25%. The ex-dividend date of this dividend is Friday, August 15th. Helmerich & Payne’s dividend payout ratio (DPR) is presently 45.66%.

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.