Helmerich & Payne, Inc. $HP Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 1.5% in the 1st quarter, Holdings Channel reports. The fund owned 929,871 shares of the oil and gas company’s stock after selling 14,204 shares during the period. Bank of New York Mellon Corp’s holdings in Helmerich & Payne were worth $33,503,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. William B. Walkup & Associates Inc. grew its holdings in Helmerich & Payne by 1.0% in the 1st quarter. William B. Walkup & Associates Inc. now owns 35,241 shares of the oil and gas company’s stock worth $1,270,000 after buying an additional 355 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Helmerich & Payne by 1.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 22,761 shares of the oil and gas company’s stock worth $653,000 after purchasing an additional 400 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in shares of Helmerich & Payne by 24.3% during the fourth quarter. Hantz Financial Services Inc. now owns 2,276 shares of the oil and gas company’s stock valued at $65,000 after purchasing an additional 445 shares during the period. Cerity Partners LLC increased its holdings in shares of Helmerich & Payne by 2.6% during the fourth quarter. Cerity Partners LLC now owns 19,339 shares of the oil and gas company’s stock valued at $555,000 after purchasing an additional 498 shares during the period. Finally, KLCM Advisors Inc. raised its stake in shares of Helmerich & Payne by 5.5% during the fourth quarter. KLCM Advisors Inc. now owns 10,550 shares of the oil and gas company’s stock valued at $303,000 after purchasing an additional 550 shares in the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Trading Down 0.1%

Shares of NYSE HP opened at $35.29 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.71 and a debt-to-equity ratio of 0.71. Helmerich & Payne, Inc. has a 12 month low of $15.17 and a 12 month high of $41.82. The company has a market cap of $3.53 billion, a price-to-earnings ratio of -9.31 and a beta of 0.60. The business has a fifty day simple moving average of $36.02 and a 200-day simple moving average of $35.43.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.32). The company had revenue of $932.36 million during the quarter, compared to analysts’ expectations of $945.60 million. Helmerich & Payne had a negative return on equity of 1.16% and a negative net margin of 9.38%.The company’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.01 EPS. Sell-side analysts predict that Helmerich & Payne, Inc. will post -0.11 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Tuesday, August 18th. Helmerich & Payne’s dividend payout ratio (DPR) is presently -26.39%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on HP shares. The Goldman Sachs Group upped their price objective on shares of Helmerich & Payne from $35.00 to $41.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Citigroup dropped their price target on shares of Helmerich & Payne from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, June 29th. Piper Sandler upped their price target on shares of Helmerich & Payne from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Susquehanna reduced their price target on shares of Helmerich & Payne from $43.00 to $40.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. Finally, Royal Bank Of Canada increased their price objective on shares of Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $39.80.

About Helmerich & Payne

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.