Alliancebernstein L.P. lessened its stake in Helmerich & Payne, Inc. (NYSE:HP) by 6.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 170,554 shares of the oil and gas company’s stock after selling 11,992 shares during the period. Alliancebernstein L.P. owned about 0.16% of Helmerich & Payne worth $11,729,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Keybank National Association OH grew its holdings in shares of Helmerich & Payne by 0.8% during the 3rd quarter. Keybank National Association OH now owns 133,855 shares of the oil and gas company’s stock worth $9,205,000 after acquiring an additional 1,091 shares during the period. Norinchukin Bank The grew its stake in shares of Helmerich & Payne by 13.6% in the 3rd quarter. Norinchukin Bank The now owns 14,012 shares of the oil and gas company’s stock worth $964,000 after buying an additional 1,677 shares during the last quarter. Tobam purchased a new stake in shares of Helmerich & Payne in the 3rd quarter worth approximately $3,622,000. Twin Capital Management Inc. purchased a new stake in shares of Helmerich & Payne in the 3rd quarter worth approximately $2,338,000. Finally, Ffcm LLC grew its stake in shares of Helmerich & Payne by 4.0% in the 3rd quarter. Ffcm LLC now owns 20,198 shares of the oil and gas company’s stock worth $1,375,000 after buying an additional 780 shares during the last quarter. 90.68% of the stock is owned by institutional investors.
Several analysts recently weighed in on HP shares. JPMorgan Chase & Co. upgraded Helmerich & Payne from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $49.00 to $58.00 in a research note on Friday, September 14th. Royal Bank of Canada upgraded Helmerich & Payne from a “sector perform” rating to an “outperform” rating and set a $90.00 price target on the stock in a research note on Thursday, September 20th. B. Riley upgraded Helmerich & Payne from a “neutral” rating to a “buy” rating and upped their price target for the stock from $68.00 to $83.00 in a research note on Monday, September 24th. Zacks Investment Research downgraded Helmerich & Payne from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 4th. Finally, Capital One Financial upgraded Helmerich & Payne from an “equal weight” rating to an “overweight” rating in a research note on Friday, October 5th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $72.11.
Shares of HP opened at $60.74 on Friday. The company has a current ratio of 2.96, a quick ratio of 2.54 and a debt-to-equity ratio of 0.11. Helmerich & Payne, Inc. has a 12 month low of $56.72 and a 12 month high of $75.02. The firm has a market cap of $6.61 billion, a price-to-earnings ratio of 433.86 and a beta of 1.30.
Helmerich & Payne (NYSE:HP) last issued its earnings results on Thursday, November 15th. The oil and gas company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. Helmerich & Payne had a return on equity of 0.41% and a net margin of 19.41%. The business had revenue of $696.83 million for the quarter, compared to the consensus estimate of $683.89 million. On average, equities research analysts expect that Helmerich & Payne, Inc. will post 1.74 earnings per share for the current year.
In other news, Director Chapman Paula Marshall sold 11,309 shares of the stock in a transaction on Friday, September 14th. The stock was sold at an average price of $65.13, for a total transaction of $736,555.17. Following the transaction, the director now directly owns 14,874 shares of the company’s stock, valued at approximately $968,743.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP John R. Bell sold 13,000 shares of the stock in a transaction on Monday, November 26th. The shares were sold at an average price of $60.17, for a total value of $782,210.00. Following the transaction, the vice president now directly owns 63,375 shares in the company, valued at $3,813,273.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,309 shares of company stock worth $3,618,765. Company insiders own 4.10% of the company’s stock.
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About Helmerich & Payne
Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.
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