Truist Financial Corp Reduces Position in Helmerich & Payne, Inc. (NYSE:HP)

Truist Financial Corp lessened its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 62.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,527 shares of the oil and gas company’s stock after selling 17,765 shares during the quarter. Truist Financial Corp’s holdings in Helmerich & Payne were worth $337,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in HP. Covestor Ltd raised its holdings in shares of Helmerich & Payne by 76.9% during the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock valued at $45,000 after acquiring an additional 643 shares in the last quarter. Quarry LP bought a new position in shares of Helmerich & Payne during the third quarter valued at approximately $48,000. Steph & Co. bought a new position in shares of Helmerich & Payne during the fourth quarter valued at approximately $87,000. KBC Group NV raised its holdings in shares of Helmerich & Payne by 20.3% during the third quarter. KBC Group NV now owns 3,130 shares of the oil and gas company’s stock valued at $95,000 after acquiring an additional 529 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new position in shares of Helmerich & Payne during the third quarter valued at approximately $106,000. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Trading Up 2.4 %

Helmerich & Payne stock opened at $25.28 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.52. Helmerich & Payne, Inc. has a one year low of $23.80 and a one year high of $44.11. The stock has a market capitalization of $2.51 billion, a PE ratio of 8.31, a price-to-earnings-growth ratio of 3.52 and a beta of 1.37. The business’s fifty day moving average is $30.90 and its 200 day moving average is $32.49.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. On average, sell-side analysts predict that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, February 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.96%. Helmerich & Payne’s dividend payout ratio is currently 32.89%.

Insider Buying and Selling at Helmerich & Payne

In related news, Director Belgacem Chariag acquired 37,356 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was bought at an average cost of $27.08 per share, for a total transaction of $1,011,600.48. Following the purchase, the director now owns 54,606 shares in the company, valued at $1,478,730.48. The trade was a 216.56 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John W. Lindsay acquired 20,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were bought at an average price of $27.55 per share, with a total value of $551,000.00. Following the completion of the purchase, the chief executive officer now owns 691,214 shares in the company, valued at $19,042,945.70. This trade represents a 2.98 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 4.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on HP shares. Citigroup upgraded Helmerich & Payne from a “neutral” rating to a “buy” rating and upped their target price for the company from $33.00 to $40.00 in a report on Friday, January 10th. Barclays decreased their price objective on Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating for the company in a report on Wednesday, February 19th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a report on Thursday, November 21st. Evercore ISI reiterated an “in-line” rating and issued a $39.00 price objective (down previously from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. Finally, Royal Bank of Canada decreased their price objective on Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $37.25.

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.