Fisher Asset Management LLC Sells 54,418 Shares of Helmerich & Payne, Inc. $HP

Fisher Asset Management LLC decreased its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 3.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,706,123 shares of the oil and gas company’s stock after selling 54,418 shares during the period. Fisher Asset Management LLC’s holdings in Helmerich & Payne were worth $37,688,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Allianz Asset Management GmbH increased its stake in shares of Helmerich & Payne by 234.7% during the third quarter. Allianz Asset Management GmbH now owns 383,437 shares of the oil and gas company’s stock valued at $8,470,000 after purchasing an additional 268,882 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Helmerich & Payne by 61.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 117,958 shares of the oil and gas company’s stock worth $2,606,000 after buying an additional 44,906 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in Helmerich & Payne by 398.3% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 47,073 shares of the oil and gas company’s stock valued at $1,040,000 after buying an additional 37,626 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in Helmerich & Payne during the second quarter valued at $174,000. Finally, Caxton Associates LLP raised its stake in Helmerich & Payne by 666.7% during the second quarter. Caxton Associates LLP now owns 195,313 shares of the oil and gas company’s stock valued at $2,961,000 after buying an additional 169,839 shares during the last quarter. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Stock Down 3.2%

Shares of Helmerich & Payne stock opened at $33.97 on Wednesday. Helmerich & Payne, Inc. has a twelve month low of $14.65 and a twelve month high of $36.73. The company has a quick ratio of 1.58, a current ratio of 2.03 and a debt-to-equity ratio of 0.75. The company’s 50 day moving average is $32.68 and its 200 day moving average is $27.28. The company has a market cap of $3.39 billion, a price-to-earnings ratio of -10.65 and a beta of 0.54.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.27). The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $990.16 million. Helmerich & Payne had a negative net margin of 7.71% and a positive return on equity of 0.28%. Helmerich & Payne’s quarterly revenue was up 50.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 earnings per share. Research analysts anticipate that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.00 dividend on an annualized basis and a yield of 2.9%. Helmerich & Payne’s dividend payout ratio is currently -31.35%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HP. Evercore set a $37.00 target price on Helmerich & Payne in a research note on Friday, February 6th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $32.00 price target on shares of Helmerich & Payne in a research note on Wednesday, January 14th. Royal Bank Of Canada raised their price objective on shares of Helmerich & Payne from $34.00 to $36.00 and gave the company a “sector perform” rating in a research note on Friday, February 6th. JPMorgan Chase & Co. raised shares of Helmerich & Payne from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $24.00 to $34.00 in a report on Wednesday, December 10th. Finally, TD Cowen increased their price target on shares of Helmerich & Payne from $35.00 to $38.00 and gave the company a “hold” rating in a report on Monday, February 9th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Helmerich & Payne presently has an average rating of “Hold” and a consensus target price of $36.20.

Insider Transactions at Helmerich & Payne

In other Helmerich & Payne news, Director Hans Helmerich sold 75,000 shares of the firm’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $28.12, for a total value of $2,109,000.00. Following the transaction, the director directly owned 496,735 shares of the company’s stock, valued at approximately $13,968,188.20. This trade represents a 13.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.40% of the company’s stock.

Helmerich & Payne Profile

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.