US Bancorp DE Sells 554 Shares of Helmerich & Payne, Inc. (NYSE:HP)

US Bancorp DE lessened its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,686 shares of the oil and gas company’s stock after selling 554 shares during the quarter. US Bancorp DE’s holdings in Helmerich & Payne were worth $1,559,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in HP. Kestra Investment Management LLC bought a new position in Helmerich & Payne in the 4th quarter valued at about $27,000. Covestor Ltd lifted its position in shares of Helmerich & Payne by 76.9% during the 3rd quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock worth $45,000 after buying an additional 643 shares in the last quarter. Quarry LP bought a new position in shares of Helmerich & Payne during the 3rd quarter worth approximately $48,000. Steph & Co. bought a new position in shares of Helmerich & Payne during the 4th quarter worth approximately $87,000. Finally, KBC Group NV lifted its position in shares of Helmerich & Payne by 20.3% during the 3rd quarter. KBC Group NV now owns 3,130 shares of the oil and gas company’s stock worth $95,000 after buying an additional 529 shares in the last quarter. Institutional investors own 96.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Evercore ISI restated an “in-line” rating and set a $39.00 price target (down previously from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Barclays decreased their price target on shares of Helmerich & Payne from $36.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Citigroup upgraded shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Finally, Argus upgraded shares of Helmerich & Payne to a “hold” rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, six have assigned 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 Buying and Selling at Helmerich & Payne

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

Helmerich & Payne Stock Performance

NYSE HP opened at $25.59 on Friday. Helmerich & Payne, Inc. has a 52-week low of $23.80 and a 52-week high of $44.11. 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 company has a market capitalization of $2.54 billion, a P/E ratio of 8.42, a P/E/G ratio of 3.52 and a beta of 1.42. The company has a fifty day moving average of $30.57 and a 200-day moving average of $32.33.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share for the quarter, topping 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, equities research analysts predict that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date of this dividend was Friday, February 14th. Helmerich & Payne’s payout ratio is 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.