Hodges Capital Management Inc. Lowers Stake in Helmerich & Payne, Inc. (NYSE:HP)

Hodges Capital Management Inc. lessened its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 4.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 10,255 shares of the oil and gas company’s stock after selling 500 shares during the quarter. Hodges Capital Management Inc.’s holdings in Helmerich & Payne were worth $312,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Arizona State Retirement System lifted its holdings in Helmerich & Payne by 1.3% in the 2nd quarter. Arizona State Retirement System now owns 27,667 shares of the oil and gas company’s stock valued at $1,000,000 after purchasing an additional 342 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Helmerich & Payne by 2.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,002 shares of the oil and gas company’s stock valued at $795,000 after purchasing an additional 513 shares during the period. KBC Group NV increased its position in 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 worth $95,000 after purchasing an additional 529 shares during the last quarter. Covestor Ltd raised its stake in Helmerich & Payne by 76.9% during the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock worth $45,000 after purchasing an additional 643 shares during the period. Finally, Headlands Technologies LLC boosted its holdings in Helmerich & Payne by 96.9% in the 2nd quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company’s stock valued at $56,000 after purchasing an additional 757 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. The Goldman Sachs Group reduced their target price on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research report on Thursday, August 29th. Royal Bank of Canada lowered their price target on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating for the company in a report on Friday, November 15th. Barclays reduced their price objective on shares of Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 20th. Finally, Citigroup lowered their target price on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $38.57.

Helmerich & Payne Price Performance

HP stock opened at $33.24 on Monday. The business’s fifty day moving average price is $34.50 and its 200 day moving average price is $34.70. Helmerich & Payne, Inc. has a 12-month low of $29.46 and a 12-month high of $44.11. The company has a current ratio of 2.67, a quick ratio of 2.40 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $3.28 billion, a PE ratio of 9.66, a P/E/G ratio of 4.07 and a beta of 1.39.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.76. The company had revenue of $693.79 million for the quarter, compared to analyst estimates of $695.99 million. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. On average, sell-side analysts anticipate that Helmerich & Payne, Inc. will post 3.12 EPS for the current year.

Helmerich & Payne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.01%. The ex-dividend date was Monday, November 18th. Helmerich & Payne’s payout ratio is currently 29.07%.

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.