Park Avenue Securities LLC Sells 1,615 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Park Avenue Securities LLC reduced its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 14.1% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,817 shares of the oil and gas company’s stock after selling 1,615 shares during the quarter. Park Avenue Securities LLC’s holdings in Helmerich & Payne were worth $413,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Mariner LLC grew its position in Helmerich & Payne by 4.0% in the third quarter. Mariner LLC now owns 26,448 shares of the oil and gas company’s stock worth $1,115,000 after acquiring an additional 1,019 shares in the last quarter. Natixis Advisors L.P. boosted its holdings in shares of Helmerich & Payne by 7.6% in the 3rd quarter. Natixis Advisors L.P. now owns 28,825 shares of the oil and gas company’s stock worth $1,215,000 after purchasing an additional 2,047 shares in the last quarter. Teza Capital Management LLC bought a new position in shares of Helmerich & Payne during the 3rd quarter valued at about $738,000. Gotham Asset Management LLC raised its holdings in shares of Helmerich & Payne by 92.7% during the 3rd quarter. Gotham Asset Management LLC now owns 59,596 shares of the oil and gas company’s stock valued at $2,513,000 after buying an additional 28,675 shares in the last quarter. Finally, Hodges Capital Management Inc. bought a new stake in Helmerich & Payne in the 3rd quarter worth approximately $1,130,000. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Insider Activity at Helmerich & Payne

In other news, SVP Cara M. Hair sold 9,910 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 137,764 shares in the company, valued at approximately $5,540,868.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Helmerich & Payne news, CFO Mark W. Smith sold 16,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $40.49, for a total value of $647,840.00. Following the sale, the chief financial officer now owns 144,870 shares in the company, valued at $5,865,786.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Cara M. Hair sold 9,910 shares of Helmerich & Payne stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $40.22, for a total transaction of $398,580.20. Following the transaction, 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 corporate insiders.

Helmerich & Payne Stock Up 1.5 %

Shares of NYSE:HP opened at $36.14 on Friday. The stock’s 50-day moving average is $37.15 and its 200 day moving average is $37.99. The company has a market cap of $3.57 billion, a PE ratio of 10.33, a P/E/G ratio of 3.92 and a beta of 1.47. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 1.92. Helmerich & Payne, Inc. has a 1 year low of $32.17 and a 1 year high of $46.55.

Helmerich & Payne (NYSE:HP) last posted 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). Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The business had revenue of $687.94 million for the quarter, compared to analysts’ expectations of $682.51 million. During the same period last year, the firm posted $1.26 earnings per share. Helmerich & Payne’s quarterly revenue was down 10.6% on a year-over-year basis. Sell-side analysts anticipate that Helmerich & Payne, Inc. will post 3.46 EPS for the current year.

Helmerich & Payne Cuts Dividend

The business 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 $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 2.77%. Helmerich & Payne’s dividend payout ratio (DPR) is presently 28.57%.

Analyst Ratings Changes

HP has been the topic of several research reports. Citigroup lifted their price target on shares of Helmerich & Payne from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, April 25th. Piper Sandler cut their price target on shares of Helmerich & Payne from $44.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Finally, Susquehanna decreased their price objective 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 given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $42.29.

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.