Helmerich & Payne, Inc. (NYSE:HP) Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its position in Helmerich & Payne, Inc. (NYSE:HPGet Rating) by 10.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,456 shares of the oil and gas company’s stock after selling 1,266 shares during the quarter. M&T Bank Corp’s holdings in Helmerich & Payne were worth $451,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in HP. Goldman Sachs Group Inc. raised its holdings in Helmerich & Payne by 260.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,173,965 shares of the oil and gas company’s stock worth $50,222,000 after purchasing an additional 848,198 shares in the last quarter. Invesco Ltd. raised its holdings in Helmerich & Payne by 157.8% during the first quarter. Invesco Ltd. now owns 1,254,467 shares of the oil and gas company’s stock worth $53,667,000 after purchasing an additional 767,791 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in Helmerich & Payne during the first quarter worth approximately $30,235,000. Capital Research Global Investors raised its holdings in Helmerich & Payne by 83.1% during the first quarter. Capital Research Global Investors now owns 1,278,249 shares of the oil and gas company’s stock worth $54,683,000 after purchasing an additional 579,949 shares in the last quarter. Finally, Leeward Investments LLC MA acquired a new stake in Helmerich & Payne during the first quarter worth approximately $20,740,000. Institutional investors and hedge funds own 94.61% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HP. StockNews.com began coverage on shares of Helmerich & Payne in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Morgan Stanley upgraded shares of Helmerich & Payne from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $48.00 to $55.00 in a research report on Monday, September 26th. Piper Sandler restated an “overweight” rating and set a $59.00 target price on shares of Helmerich & Payne in a research report on Friday, October 7th. Finally, Barclays raised their target price on shares of Helmerich & Payne to $58.00 in a research report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $52.67.

Helmerich & Payne Stock Performance

NYSE:HP opened at $52.21 on Monday. The firm’s fifty day moving average price is $44.09 and its 200 day moving average price is $44.38. Helmerich & Payne, Inc. has a 1-year low of $20.93 and a 1-year high of $54.59. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.36 and a quick ratio of 2.14. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of -47.04 and a beta of 1.75.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Monday, November 14th. Helmerich & Payne’s dividend payout ratio (DPR) is currently -90.09%.

Insider Buying and Selling at Helmerich & Payne

In other Helmerich & Payne news, SVP John R. Bell sold 4,314 shares of the firm’s stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $50.00, for a total value of $215,700.00. Following the completion of the sale, the senior vice president now owns 117,395 shares of the company’s stock, valued at $5,869,750. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, SVP John R. Bell sold 4,314 shares of Helmerich & Payne stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $50.00, for a total transaction of $215,700.00. Following the completion of the transaction, the senior vice president now owns 117,395 shares of the company’s stock, valued at approximately $5,869,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Raymond John Adams III sold 1,500 shares of Helmerich & Payne stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $47.50, for a total value of $71,250.00. Following the transaction, the senior vice president now directly owns 52,935 shares of the company’s stock, valued at approximately $2,514,412.50. The disclosure for this sale can be found here. 4.35% of the stock is owned by corporate insiders.

Helmerich & Payne Company Profile

(Get Rating)

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.

Recommended Stories

Institutional Ownership by Quarter for Helmerich & Payne (NYSE:HP)

Receive News & Ratings for Helmerich & Payne Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Helmerich & Payne and related companies with MarketBeat.com's FREE daily email newsletter.