Helmerich & Payne, Inc. (NYSE:HP) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 35.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 264,619 shares of the oil and gas company’s stock after selling 144,307 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Helmerich & Payne were worth $9,585,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rockefeller Capital Management L.P. boosted its stake in Helmerich & Payne by 221.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 533 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 367 shares during the period. Quarry LP acquired a new position in Helmerich & Payne during the 1st quarter valued at about $43,000. Coppell Advisory Solutions Corp. acquired a new position in Helmerich & Payne during the 4th quarter valued at about $45,000. Steward Partners Investment Advisory LLC boosted its stake in Helmerich & Payne by 689.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,145 shares of the oil and gas company’s stock valued at $57,000 after purchasing an additional 1,000 shares during the period. Finally, Resurgent Financial Advisors LLC acquired a new position in Helmerich & Payne during the 4th quarter valued at about $65,000. 96.05% of the stock is owned by institutional investors and hedge funds.

Helmerich & Payne Stock Down 1.0 %

NYSE HP opened at $41.20 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.11 and a quick ratio of 1.89. The company’s 50 day simple moving average is $40.23 and its 200 day simple moving average is $38.60. Helmerich & Payne, Inc. has a 12 month low of $30.41 and a 12 month high of $46.55. The company has a market capitalization of $4.07 billion, a P/E ratio of 9.83, a PEG ratio of 8.76 and a beta of 1.51.

Helmerich & Payne (NYSE:HP) last released its earnings results on Tuesday, January 30th. The oil and gas company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.24. Helmerich & Payne had a net margin of 15.27% and a return on equity of 15.06%. The business had revenue of $677.00 million for the quarter, compared to the consensus estimate of $661.81 million. During the same period in the previous year, the firm earned $1.11 EPS. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. Equities research analysts expect that Helmerich & Payne, Inc. will post 3.59 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date is Thursday, May 16th. Helmerich & Payne’s payout ratio is presently 23.87%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HP. Barclays downgraded shares of Helmerich & Payne from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $44.00 to $40.00 in a research report on Wednesday, January 10th. The Goldman Sachs Group dropped their price target on shares of Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating on the stock in a research report on Friday, January 12th. Benchmark downgraded shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Piper Sandler boosted their price target on shares of Helmerich & Payne from $41.00 to $44.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 20th. Finally, Royal Bank of Canada boosted their price target on shares of Helmerich & Payne from $46.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $42.88.

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.