Bank of New York Mellon Corp Acquires 77,099 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Bank of New York Mellon Corp increased its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 7.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,121,742 shares of the oil and gas company’s stock after purchasing an additional 77,099 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.11% of Helmerich & Payne worth $35,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of HP. State of New Jersey Common Pension Fund D boosted its position in Helmerich & Payne by 18.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 58,634 shares of the oil and gas company’s stock valued at $1,784,000 after acquiring an additional 9,004 shares in the last quarter. Legato Capital Management LLC boosted its position in Helmerich & Payne by 93.9% during the 4th quarter. Legato Capital Management LLC now owns 76,064 shares of the oil and gas company’s stock valued at $2,436,000 after acquiring an additional 36,828 shares in the last quarter. Hara Capital LLC boosted its position in Helmerich & Payne by 519.3% during the 4th quarter. Hara Capital LLC now owns 61,114 shares of the oil and gas company’s stock valued at $1,957,000 after acquiring an additional 51,245 shares in the last quarter. Petrus Trust Company LTA bought a new stake in Helmerich & Payne during the 3rd quarter valued at approximately $619,000. Finally, Principal Financial Group Inc. boosted its position in Helmerich & Payne by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 478,823 shares of the oil and gas company’s stock valued at $15,332,000 after acquiring an additional 13,410 shares in the last quarter. 96.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HP has been the topic of several research reports. Evercore ISI reaffirmed an “in-line” rating and set a $39.00 price objective (down from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Citigroup raised Helmerich & Payne from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Argus raised Helmerich & Payne to a “hold” rating in a research report on Tuesday, February 11th. Barclays dropped their price target on Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Finally, Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Helmerich & Payne currently has a consensus rating of “Hold” and an average price target of $37.25.

Insider Transactions at Helmerich & Payne

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

Helmerich & Payne Price Performance

NYSE HP opened at $25.59 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81. The firm’s 50 day moving average price is $30.67 and its 200-day moving average price is $32.39. Helmerich & Payne, Inc. has a 52-week low of $23.80 and a 52-week high of $44.11. The company has a market cap of $2.54 billion, a PE ratio of 8.42, a P/E/G ratio of 3.52 and a beta of 1.37.

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

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.91%. Helmerich & Payne’s payout ratio is currently 32.89%.

About Helmerich & Payne

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.