Bank of New York Mellon Corp Has $42.16 Million Stake in Helmerich & Payne, Inc. (NYSE:HP)

Bank of New York Mellon Corp reduced its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 0.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,166,460 shares of the oil and gas company’s stock after selling 8,302 shares during the quarter. Bank of New York Mellon Corp owned 1.18% of Helmerich & Payne worth $42,156,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of HP. Headlands Technologies LLC bought a new stake in Helmerich & Payne in the 1st quarter valued at $33,000. Hexagon Capital Partners LLC lifted its holdings in shares of Helmerich & Payne by 514.4% in the first quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 787 shares in the last quarter. Covestor Ltd boosted its position in shares of Helmerich & Payne by 253.4% during the first quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock worth $40,000 after buying an additional 674 shares during the period. Principal Securities Inc. bought a new position in shares of Helmerich & Payne during the fourth quarter worth about $35,000. Finally, Whittier Trust Co. raised its position in Helmerich & Payne by 94.9% in the 1st quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 595 shares during the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Analyst Ratings Changes

HP has been the subject of several research reports. The Goldman Sachs Group decreased their price target on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a research note on Thursday. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Monday, August 5th. Bank of America reduced their price objective on shares of Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Royal Bank of Canada lifted their target price on Helmerich & Payne from $48.00 to $50.00 and gave the company a “sector perform” rating in a research report on Friday, July 26th. Finally, Piper Sandler reduced their price target on Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Helmerich & Payne currently has a consensus rating of “Hold” and an average price target of $42.00.

Helmerich & Payne Price Performance

NYSE:HP opened at $32.63 on Monday. Helmerich & Payne, Inc. has a 12-month low of $31.98 and a 12-month high of $46.55. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 9.32, a P/E/G ratio of 3.50 and a beta of 1.47. The stock’s 50 day moving average price is $36.02 and its two-hundred day moving average price is $37.97. The company has a quick ratio of 1.87, a current ratio of 2.12 and a debt-to-equity ratio of 0.19.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.15. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The business had revenue of $697.70 million for the quarter, compared to analyst estimates of $670.78 million. During the same period in the previous year, the firm earned $1.09 EPS. The firm’s revenue was down 3.6% compared to the same quarter last year. On average, analysts anticipate that Helmerich & Payne, Inc. will post 3.56 earnings per share for the current year.

Helmerich & Payne Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date of this dividend was Friday, August 16th. Helmerich & Payne’s dividend payout ratio is presently 28.57%.

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.