Sumitomo Mitsui Trust Holdings Inc. Sells 1,136 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Sumitomo Mitsui Trust Holdings Inc. cut its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,468 shares of the oil and gas company’s stock after selling 1,136 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Helmerich & Payne were worth $741,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of HP. Capital Investment Advisors LLC bought a new position in shares of Helmerich & Payne during the third quarter worth about $222,000. Raymond James & Associates grew its stake in Helmerich & Payne by 189.6% in the third quarter. Raymond James & Associates now owns 51,946 shares of the oil and gas company’s stock valued at $2,190,000 after purchasing an additional 34,007 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Helmerich & Payne by 5.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,178 shares of the oil and gas company’s stock valued at $935,000 after purchasing an additional 1,118 shares in the last quarter. Strs Ohio grew its stake in Helmerich & Payne by 134.3% in the third quarter. Strs Ohio now owns 31,400 shares of the oil and gas company’s stock valued at $1,323,000 after purchasing an additional 18,000 shares in the last quarter. Finally, Advisor Partners II LLC bought a new position in Helmerich & Payne in the third quarter valued at approximately $251,000. 96.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Piper Sandler raised their price target on Helmerich & Payne from $41.00 to $44.00 and gave the company a “neutral” rating in a research note on Tuesday, February 20th. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday. Citigroup raised their price target on Helmerich & Payne from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Royal Bank of Canada raised their price target on Helmerich & Payne from $46.00 to $48.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 31st. Finally, Barclays downgraded Helmerich & Payne from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $44.00 to $40.00 in a research note on Wednesday, January 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $42.88.

Helmerich & Payne Stock Performance

Shares of NYSE HP opened at $40.42 on Friday. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.20. Helmerich & Payne, Inc. has a 12 month low of $30.41 and a 12 month high of $46.55. The stock has a 50 day moving average of $40.74 and a 200-day moving average of $38.71. The company has a market capitalization of $3.99 billion, a P/E ratio of 9.65, a P/E/G ratio of 2.03 and a beta of 1.51.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Tuesday, January 30th. The oil and gas company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.73 by $0.24. The company had revenue of $677.00 million during the quarter, compared to the consensus estimate of $661.81 million. Helmerich & Payne had a return on equity of 15.06% and a net margin of 15.27%. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.11 EPS. As a group, equities research analysts predict that Helmerich & Payne, Inc. will post 3.59 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a dividend of $0.42 per share. The ex-dividend date is Thursday, May 16th. This represents a $1.68 annualized dividend and a yield of 4.16%. Helmerich & Payne’s payout ratio is currently 23.87%.

Helmerich & Payne Profile

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.