Bank of New York Mellon Corp decreased its position in shares of Helmerich & Payne, Inc. (NYSE:HP – Get Rating) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,299,252 shares of the oil and gas company’s stock after selling 5,240 shares during the period. Bank of New York Mellon Corp owned about 1.23% of Helmerich & Payne worth $48,033,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of HP. JPMorgan Chase & Co. increased its holdings in shares of Helmerich & Payne by 2.2% during the first quarter. JPMorgan Chase & Co. now owns 328,890 shares of the oil and gas company’s stock worth $14,071,000 after buying an additional 7,160 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Helmerich & Payne by 3.9% during the first quarter. Raymond James & Associates now owns 18,667 shares of the oil and gas company’s stock worth $799,000 after buying an additional 709 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Helmerich & Payne during the first quarter worth approximately $353,000. HighTower Advisors LLC grew its stake in shares of Helmerich & Payne by 4.2% during the first 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 last quarter. Finally, Private Advisor Group LLC bought a new stake in shares of Helmerich & Payne during the first quarter valued at approximately $272,000. Institutional investors and hedge funds own 92.42% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have recently commented on HP. Barclays increased their price target on shares of Helmerich & Payne to $65.00 in a research note on Monday, November 21st. StockNews.com raised shares of Helmerich & Payne from a “hold” rating to a “buy” rating in a research note on Tuesday, January 31st. Citigroup decreased their price target on shares of Helmerich & Payne from $50.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 22nd. Benchmark began coverage on shares of Helmerich & Payne in a research note on Thursday, January 19th. They set a “hold” rating on the stock. Finally, Bank of America raised shares of Helmerich & Payne from a “neutral” rating to a “buy” rating in a research note on Monday, January 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Helmerich & Payne presently has a consensus rating of “Moderate Buy” and an average price target of $60.91.
Helmerich & Payne Price Performance
Helmerich & Payne (NYSE:HP – Get Rating) last announced its quarterly earnings results on Tuesday, January 31st. The oil and gas company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.30. The company had revenue of $719.60 million for the quarter, compared to analysts’ expectations of $699.92 million. Helmerich & Payne had a net margin of 6.56% and a return on equity of 6.43%. The business’s quarterly revenue was up 75.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.45) earnings per share. As a group, analysts forecast that Helmerich & Payne, Inc. will post 4.77 EPS for the current year.
Helmerich & Payne Dividend Announcement
The company also recently declared 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. The ex-dividend date is Wednesday, May 17th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.93%. Helmerich & Payne’s dividend payout ratio is 69.44%.
About Helmerich & Payne
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.
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