Helmerich & Payne, Inc. (NYSE:HP) Shares Sold by Hodges Capital Management Inc.

Hodges Capital Management Inc. trimmed its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 22.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,010 shares of the oil and gas company’s stock after selling 7,776 shares during the period. Hodges Capital Management Inc.’s holdings in Helmerich & Payne were worth $1,136,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Securities Inc. acquired a new stake in Helmerich & Payne in the 4th quarter worth about $35,000. Creekmur Asset Management LLC purchased a new position in shares of Helmerich & Payne in the 4th quarter worth about $60,000. GAMMA Investing LLC purchased a new position in shares of Helmerich & Payne in the 4th quarter worth about $73,000. Neo Ivy Capital Management purchased a new position in shares of Helmerich & Payne in the 4th quarter worth about $176,000. Finally, Quadrant Capital Group LLC raised its holdings 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 worth $201,000 after purchasing an additional 625 shares during the period. 96.05% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Helmerich & Payne news, CFO Mark W. Smith sold 16,000 shares of Helmerich & Payne stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $40.49, for a total transaction of $647,840.00. Following the sale, the chief financial officer now directly owns 144,870 shares in the company, valued at approximately $5,865,786.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Mark W. Smith sold 16,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $5,865,786.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Cara M. Hair sold 9,910 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were 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 disclosure for this sale can be found here. 4.38% of the stock is owned by company insiders.

Helmerich & Payne Price Performance

HP stock opened at $36.14 on Friday. 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 52-week low of $32.17 and a 52-week high of $46.55. The stock’s 50 day moving average is $37.15 and its two-hundred day moving average is $37.99. The company has a market capitalization of $3.57 billion, a PE ratio of 10.33, a P/E/G ratio of 3.98 and a beta of 1.47.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data 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). Helmerich & Payne had a return on equity of 13.21% and a net margin of 12.84%. The business had revenue of $687.94 million for the quarter, compared to analysts’ expectations of $682.51 million. During the same quarter in the prior year, the firm earned $1.26 earnings per share. Helmerich & Payne’s revenue for the quarter was down 10.6% compared to the same quarter last year. Analysts predict 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 issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.00 annualized dividend and a yield of 2.77%. Helmerich & Payne’s dividend payout ratio is presently 28.57%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HP. Citigroup raised their price objective on Helmerich & Payne from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Piper Sandler dropped their target price on Helmerich & Payne from $44.00 to $39.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a report on Thursday, April 25th. Finally, Susquehanna dropped their target price on Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating on the stock in a report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $42.29.

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.