Mutual of America Capital Management LLC Trims Stock Position in Helmerich & Payne, Inc. (NYSE:HP)

Mutual of America Capital Management LLC reduced its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 8.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,854 shares of the oil and gas company’s stock after selling 1,373 shares during the period. Mutual of America Capital Management LLC’s holdings in Helmerich & Payne were worth $452,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in HP. Covestor Ltd boosted its stake in shares of Helmerich & Payne by 76.9% in the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock worth $45,000 after acquiring an additional 643 shares during the period. Blue Trust Inc. raised its position in shares of Helmerich & Payne by 127.8% during the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock valued at $46,000 after buying an additional 854 shares during the last quarter. Headlands Technologies LLC lifted its stake in Helmerich & Payne by 96.9% in the 2nd quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company’s stock worth $56,000 after purchasing an additional 757 shares in the last quarter. Eastern Bank purchased a new position in shares of Helmerich & Payne during the third quarter valued at about $61,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Helmerich & Payne in the first quarter worth about $102,000. 96.05% of the stock is currently owned by institutional investors.

Helmerich & Payne Stock Performance

HP stock opened at $34.86 on Thursday. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 4.19 and a beta of 1.40. The business’s fifty day simple moving average is $33.99 and its two-hundred day simple moving average is $34.92. Helmerich & Payne, Inc. has a twelve month low of $29.46 and a twelve month high of $44.11. The company has a quick ratio of 2.40, a current ratio of 2.67 and a debt-to-equity ratio of 0.61.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.76. The business had revenue of $693.79 million during the quarter, compared to analyst estimates of $695.99 million. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. Helmerich & Payne’s revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 EPS. Analysts predict that Helmerich & Payne, Inc. will post 3.21 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.87%. Helmerich & Payne’s dividend payout ratio is currently 29.07%.

Analyst Upgrades and Downgrades

HP has been the topic of a number of research reports. The Goldman Sachs Group reduced their price objective on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research note on Thursday, August 29th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Royal Bank of Canada dropped their price target on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating for the company in a research report on Friday, November 15th. Citigroup decreased their price objective on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Finally, Barclays lowered their price target on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $38.57.

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.