Principal Financial Group Inc. Has $14.16 Million Stake in Helmerich & Payne, Inc. (NYSE:HP)

Principal Financial Group Inc. decreased its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 9.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 465,413 shares of the oil and gas company’s stock after selling 48,247 shares during the quarter. Principal Financial Group Inc. owned 0.47% of Helmerich & Payne worth $14,158,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of HP. Commonwealth Equity Services LLC grew its stake in Helmerich & Payne by 24.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 9,222 shares of the oil and gas company’s stock valued at $333,000 after acquiring an additional 1,828 shares in the last quarter. Aptus Capital Advisors LLC grew its position in Helmerich & Payne by 24.7% during the second quarter. Aptus Capital Advisors LLC now owns 116,236 shares of the oil and gas company’s stock valued at $4,201,000 after purchasing an additional 23,025 shares in the last quarter. Cadence Wealth Management LLC acquired a new position in Helmerich & Payne in the 2nd quarter valued at approximately $303,000. Arizona State Retirement System lifted its position in Helmerich & Payne by 1.3% in the 2nd quarter. Arizona State Retirement System now owns 27,667 shares of the oil and gas company’s stock worth $1,000,000 after buying an additional 342 shares in the last quarter. Finally, Savant Capital LLC boosted its stake in shares of Helmerich & Payne by 24.2% during the 2nd quarter. Savant Capital LLC now owns 23,138 shares of the oil and gas company’s stock valued at $836,000 after buying an additional 4,506 shares during the period. 96.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on HP shares. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a report on Thursday, November 21st. Royal Bank of Canada cut their price target on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating for the company in a research note on Friday, November 15th. 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 note on Wednesday, November 20th. Finally, Citigroup cut their price objective on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $38.57.

Helmerich & Payne Stock Down 0.4 %

HP opened at $30.76 on Friday. The firm has a market cap of $3.04 billion, a P/E ratio of 8.94, a price-to-earnings-growth ratio of 4.21 and a beta of 1.39. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.40 and a current ratio of 2.67. The business has a 50 day moving average price of $33.86 and a 200 day moving average price of $34.27. Helmerich & Payne, Inc. has a twelve month low of $29.46 and a twelve month high of $44.11.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.76. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The business had revenue of $693.79 million during the quarter, compared to analysts’ expectations of $695.99 million. During the same period in the previous year, the company earned $0.69 earnings per share. Helmerich & Payne’s revenue for the quarter was up 5.2% on a year-over-year basis. Research analysts forecast that Helmerich & Payne, Inc. will post 3.12 EPS for the current year.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Friday, February 14th. Helmerich & Payne’s dividend payout ratio is currently 29.07%.

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.