Corebridge Financial Inc. Sells 4,027 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Corebridge Financial Inc. lessened its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,542 shares of the oil and gas company’s stock after selling 4,027 shares during the quarter. Corebridge Financial Inc. owned 0.05% of Helmerich & Payne worth $1,650,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Kestra Investment Management LLC purchased a new position in shares of Helmerich & Payne in the fourth quarter worth $27,000. Quarry LP bought a new stake in Helmerich & Payne in the 3rd quarter worth $48,000. Steph & Co. purchased a new position in shares of Helmerich & Payne in the fourth quarter valued at about $87,000. Smartleaf Asset Management LLC raised its stake in shares of Helmerich & Payne by 82.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,805 shares of the oil and gas company’s stock valued at $88,000 after acquiring an additional 1,268 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Helmerich & Payne by 143.3% during the fourth quarter. Blue Trust Inc. now owns 3,703 shares of the oil and gas company’s stock worth $113,000 after purchasing an additional 2,181 shares during the period. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on HP. Citigroup raised Helmerich & Payne from a “neutral” rating to a “buy” rating and upped their price target for the company from $33.00 to $40.00 in a research report on Friday, January 10th. Morgan Stanley reaffirmed an “underweight” rating and issued a $27.00 price target on shares of Helmerich & Payne in a research note on Thursday, March 27th. Royal Bank of Canada reduced their price objective on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Evercore ISI reaffirmed an “in-line” rating and issued a $39.00 target price (down from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Finally, Barclays reduced their price target on shares of 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. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Helmerich & Payne presently has an average rating of “Hold” and a consensus target price of $36.11.

Helmerich & Payne Trading Up 0.9 %

Shares of NYSE HP opened at $26.74 on Thursday. Helmerich & Payne, Inc. has a 1 year low of $23.80 and a 1 year high of $44.11. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.52. The firm has a 50-day moving average of $27.44 and a 200 day moving average of $31.54. The stock has a market cap of $2.66 billion, a P/E ratio of 8.80, a price-to-earnings-growth ratio of 3.52 and a beta of 1.43.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (EPS) 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%. As a group, sell-side analysts expect that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.74%. The ex-dividend date is Thursday, May 15th. Helmerich & Payne’s dividend payout ratio is presently 32.89%.

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.