Fisher Asset Management LLC Sells 275,749 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Fisher Asset Management LLC reduced its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 17.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,320,005 shares of the oil and gas company’s stock after selling 275,749 shares during the quarter. Fisher Asset Management LLC owned 1.34% of Helmerich & Payne worth $47,811,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Wellington Management Group LLP grew its holdings in shares of Helmerich & Payne by 11.9% during the 4th quarter. Wellington Management Group LLP now owns 1,004,518 shares of the oil and gas company’s stock worth $36,384,000 after purchasing an additional 106,491 shares in the last quarter. Creekmur Asset Management LLC acquired a new stake in Helmerich & Payne in the fourth quarter valued at about $60,000. Goldman Sachs Group Inc. boosted its stake in Helmerich & Payne by 2.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 979,230 shares of the oil and gas company’s stock valued at $35,468,000 after buying an additional 21,291 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in Helmerich & Payne in the fourth quarter valued at about $176,000. Finally, Gendell Jeffrey L boosted its stake in Helmerich & Payne by 44.9% in the fourth quarter. Gendell Jeffrey L now owns 405,776 shares of the oil and gas company’s stock valued at $14,697,000 after buying an additional 125,671 shares in the last quarter. 96.05% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Helmerich & Payne Stock Down 4.2 %

Shares of NYSE:HP opened at $32.72 on Monday. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 9.35, a PEG ratio of 3.61 and a beta of 1.47. The company has a quick ratio of 1.92, a current ratio of 2.16 and a debt-to-equity ratio of 0.19. Helmerich & Payne, Inc. has a 12-month low of $32.17 and a 12-month high of $46.55. The business’s 50 day moving average is $38.67 and its 200 day moving average is $38.11.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Thursday, April 25th. The oil and gas company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.01). The company had revenue of $687.94 million for the quarter, compared to analysts’ expectations of $682.51 million. Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The firm’s quarterly revenue was down 10.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.26 EPS. On average, sell-side analysts forecast that Helmerich & Payne, Inc. will post 3.46 earnings per share for the current fiscal year.

Helmerich & Payne Cuts Dividend

The firm 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 of this dividend is Friday, August 16th. This represents a $1.00 annualized dividend and a yield of 3.06%. Helmerich & Payne’s dividend payout ratio is currently 28.57%.

Analyst Ratings Changes

HP has been the topic of a number of recent research reports. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, April 25th. Susquehanna cut their price target on Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating on the stock in a research note on Friday, April 26th. Citigroup lifted their price target on Helmerich & Payne from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Finally, Piper Sandler cut their price target on Helmerich & Payne from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Helmerich & Payne presently has an average rating of “Hold” and an average price target of $42.00.

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.