Massachusetts Financial Services Co. MA Sells 89,690 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Massachusetts Financial Services Co. MA trimmed its stake in Helmerich & Payne, Inc. (NYSE:HP) by 8.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 927,266 shares of the oil and gas company’s stock after selling 89,690 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.94% of Helmerich & Payne worth $33,511,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of HP. Principal Securities Inc. bought a new position in shares of Helmerich & Payne during the 4th quarter worth approximately $35,000. Teacher Retirement System of Texas boosted its stake in shares of Helmerich & Payne by 26.4% during the 4th quarter. Teacher Retirement System of Texas now owns 10,212 shares of the oil and gas company’s stock worth $370,000 after acquiring an additional 2,132 shares during the period. Brown Advisory Inc. boosted its stake in shares of Helmerich & Payne by 16.6% during the 4th quarter. Brown Advisory Inc. now owns 28,150 shares of the oil and gas company’s stock worth $1,020,000 after acquiring an additional 4,000 shares during the period. UBS Group AG boosted its stake in shares of Helmerich & Payne by 84.9% during the 4th quarter. UBS Group AG now owns 207,557 shares of the oil and gas company’s stock worth $7,518,000 after acquiring an additional 95,330 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in shares of Helmerich & Payne by 0.4% during the 4th quarter. Clearbridge Investments LLC now owns 319,981 shares of the oil and gas company’s stock worth $11,590,000 after acquiring an additional 1,321 shares during the period. 96.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on HP. Royal Bank of Canada lifted their target price on Helmerich & Payne from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Friday, July 26th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Monday, August 5th. Piper Sandler dropped their price target on Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Citigroup dropped their price target on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, September 13th. Finally, Evercore ISI raised Helmerich & Payne to a “strong-buy” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Helmerich & Payne has a consensus rating of “Hold” and a consensus price target of $40.88.

Helmerich & Payne Price Performance

Shares of NYSE HP opened at $32.62 on Friday. The stock has a market capitalization of $3.22 billion, a PE ratio of 9.32, a P/E/G ratio of 3.29 and a beta of 1.42. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.12 and a quick ratio of 1.87. The business has a fifty day moving average price of $34.72 and a two-hundred day moving average price of $37.23. Helmerich & Payne, Inc. has a fifty-two week low of $29.46 and a fifty-two week high of $45.04.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.15. The firm had revenue of $697.70 million during the quarter, compared to analysts’ expectations of $670.78 million. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.09 EPS. As a group, equities analysts predict that Helmerich & Payne, Inc. will post 3.57 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $0.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.00 annualized dividend and a yield of 3.07%. Helmerich & Payne’s dividend payout ratio is presently 28.57%.

Helmerich & Payne 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.