Vanguard Group Inc. Sells 173,120 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Vanguard Group Inc. reduced its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,639,212 shares of the oil and gas company’s stock after selling 173,120 shares during the quarter. Vanguard Group Inc. owned about 11.78% of Helmerich & Payne worth $421,572,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in HP. Principal Securities Inc. bought a new stake in shares of Helmerich & Payne in the 4th quarter worth approximately $35,000. Creekmur Asset Management LLC purchased a new position in shares of Helmerich & Payne in the 4th quarter valued at approximately $60,000. GAMMA Investing LLC purchased a new position in shares of Helmerich & Payne in the 4th quarter valued at approximately $73,000. Neo Ivy Capital Management purchased a new position in shares of Helmerich & Payne in the 4th quarter valued at approximately $176,000. Finally, Quadrant Capital Group LLC lifted its stake in shares of Helmerich & Payne by 12.7% in the 4th quarter. Quadrant Capital Group LLC now owns 5,548 shares of the oil and gas company’s stock valued at $201,000 after purchasing an additional 625 shares during the period. 96.05% of the stock is currently owned by institutional investors.

Helmerich & Payne Stock Up 0.3 %

Helmerich & Payne stock opened at $35.20 on Thursday. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 3.87 and a beta of 1.47. The stock has a fifty day simple moving average of $37.38 and a two-hundred day simple moving average of $37.99. Helmerich & Payne, Inc. has a 12 month low of $32.17 and a 12 month high of $46.55. The company has a current ratio of 2.16, a quick ratio of 1.92 and a debt-to-equity ratio of 0.19.

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

Helmerich & Payne Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Friday, August 16th. Helmerich & Payne’s payout ratio is 28.57%.

Insiders Place Their Bets

In other Helmerich & Payne news, SVP Cara M. Hair sold 9,910 shares of Helmerich & Payne 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 completion of the sale, the senior vice president now owns 137,764 shares of the company’s stock, valued at approximately $5,540,868.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Cara M. Hair sold 9,910 shares of Helmerich & Payne 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 completion of the sale, the senior vice president now owns 137,764 shares of the company’s stock, valued at $5,540,868.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark W. Smith sold 16,000 shares of Helmerich & Payne stock in a transaction on 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 sale, the chief financial officer now directly owns 144,870 shares of the company’s stock, valued at approximately $5,865,786.30. The disclosure for this sale can be found here. Corporate insiders own 4.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HP. Piper Sandler lowered their target price on Helmerich & Payne from $44.00 to $39.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Citigroup raised their target price on Helmerich & Payne from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Susquehanna lowered their target price on Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating for the company in a research note on Friday, April 26th. Finally, Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Helmerich & Payne presently has a consensus rating of “Hold” and a consensus target price of $42.00.

Helmerich & Payne 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.