Clearbridge Investments LLC Sells 5,178 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Clearbridge Investments LLC decreased its position in shares of Helmerich & Payne, Inc. (NYSE:HP – Get Rating) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 356,197 shares of the oil and gas company’s stock after selling 5,178 shares during the quarter. Clearbridge Investments LLC owned 0.34% of Helmerich & Payne worth $17,657,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in HP. JPMorgan Chase & Co. increased its position in Helmerich & Payne by 2.2% during the 1st quarter. JPMorgan Chase & Co. now owns 328,890 shares of the oil and gas company’s stock valued at $14,071,000 after purchasing an additional 7,160 shares during the period. Raymond James & Associates increased its position in Helmerich & Payne by 3.9% during the 1st quarter. Raymond James & Associates now owns 18,667 shares of the oil and gas company’s stock valued at $799,000 after purchasing an additional 709 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in Helmerich & Payne during the 1st quarter valued at approximately $353,000. HighTower Advisors LLC increased its position in Helmerich & Payne by 4.2% during the 1st quarter. HighTower Advisors LLC now owns 18,629 shares of the oil and gas company’s stock valued at $799,000 after purchasing an additional 743 shares during the period. Finally, Private Advisor Group LLC acquired a new stake in Helmerich & Payne during the 1st quarter valued at approximately $272,000. Institutional investors own 92.42% of the company’s stock.

Analyst Upgrades and Downgrades

HP has been the topic of a number of research analyst reports. The Goldman Sachs Group cut their price target on Helmerich & Payne from $44.00 to $38.00 and set a “sell” rating on the stock in a report on Monday, March 27th. VNET Group restated a “maintains” rating on shares of Helmerich & Payne in a report on Friday, May 19th. TheStreet upgraded Helmerich & Payne from a “c+” rating to a “b” rating in a report on Monday, January 30th. Morgan Stanley cut Helmerich & Payne from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $60.00 to $45.00 in a report on Tuesday, April 18th. Finally, Citigroup cut their target price on Helmerich & Payne from $42.00 to $33.00 in a report on Friday, May 19th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Helmerich & Payne has a consensus rating of “Hold” and a consensus target price of $54.40.

Helmerich & Payne Price Performance

Shares of NYSE:HP opened at $32.81 on Friday. The company has a current ratio of 2.43, a quick ratio of 2.19 and a debt-to-equity ratio of 0.20. The stock’s fifty day simple moving average is $34.54 and its two-hundred day simple moving average is $42.61. Helmerich & Payne, Inc. has a 1-year low of $30.41 and a 1-year high of $54.59. The stock has a market cap of $3.37 billion, a PE ratio of 10.79 and a beta of 1.65.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Thursday, May 18th will be given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 5.91%. The ex-dividend date is Wednesday, May 17th. Helmerich & Payne’s dividend payout ratio is presently 32.89%.

Helmerich & Payne Company Profile

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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.