Helmerich & Payne, Inc. $HP Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC lowered its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 5.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,620 shares of the oil and gas company’s stock after selling 2,897 shares during the period. Cresset Asset Management LLC owned about 0.05% of Helmerich & Payne worth $1,427,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in HP. Balyasny Asset Management L.P. acquired a new stake in shares of Helmerich & Payne during the fourth quarter worth about $28,708,000. Victory Capital Management Inc. increased its position in shares of Helmerich & Payne by 28.4% during the first quarter. Victory Capital Management Inc. now owns 3,553,181 shares of the oil and gas company’s stock worth $92,809,000 after purchasing an additional 786,250 shares in the last quarter. Invesco Ltd. increased its position in shares of Helmerich & Payne by 24.7% during the first quarter. Invesco Ltd. now owns 2,704,134 shares of the oil and gas company’s stock worth $70,632,000 after purchasing an additional 535,808 shares in the last quarter. Bank of America Corp DE increased its position in shares of Helmerich & Payne by 542.9% during the fourth quarter. Bank of America Corp DE now owns 523,047 shares of the oil and gas company’s stock worth $16,748,000 after purchasing an additional 441,688 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Helmerich & Payne by 12.2% during the first quarter. American Century Companies Inc. now owns 2,983,840 shares of the oil and gas company’s stock worth $77,938,000 after purchasing an additional 325,484 shares in the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. TD Cowen raised their price target on Helmerich & Payne from $26.00 to $27.00 and gave the stock a “hold” rating in a report on Tuesday. Morgan Stanley lowered their price target on Helmerich & Payne from $27.00 to $20.00 and set an “underweight” rating on the stock in a report on Friday, May 16th. Wall Street Zen lowered Helmerich & Payne from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Susquehanna lowered their price target on Helmerich & Payne from $24.00 to $23.00 and set a “positive” rating on the stock in a report on Tuesday, July 1st. Finally, Citigroup reissued a “neutral” rating and set a $17.00 price target (down previously from $19.00) on shares of Helmerich & Payne in a report on Thursday, June 26th. One equities research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Helmerich & Payne has a consensus rating of “Reduce” and a consensus target price of $22.20.

Helmerich & Payne Price Performance

Shares of HP opened at $17.7650 on Thursday. Helmerich & Payne, Inc. has a twelve month low of $14.65 and a twelve month high of $37.46. The stock’s 50 day moving average is $16.69 and its two-hundred day moving average is $20.23. The firm has a market capitalization of $1.77 billion, a PE ratio of -53.83 and a beta of 0.87. The company has a current ratio of 1.84, a quick ratio of 1.43 and a debt-to-equity ratio of 0.76.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Helmerich & Payne had a positive return on equity of 5.81% and a negative net margin of 0.90%.The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the company earned $0.92 EPS. The firm’s revenue for the quarter was up 49.2% compared to the same quarter last year. Research analysts anticipate that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Friday, August 15th. Helmerich & Payne’s payout ratio is currently -303.03%.

Insiders Place Their Bets

In other Helmerich & Payne news, CAO Sara Marie Momper sold 6,700 shares of Helmerich & Payne stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $17.83, for a total value of $119,461.00. Following the sale, the chief accounting officer owned 21,908 shares of the company’s stock, valued at approximately $390,619.64. The trade was a 23.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.51% of the company’s stock.

About Helmerich & Payne

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.