ProShare Advisors LLC Has $543,000 Stock Position in Helmerich & Payne, Inc. (NYSE:HP)

ProShare Advisors LLC cut its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 23.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,023 shares of the oil and gas company’s stock after selling 4,649 shares during the quarter. ProShare Advisors LLC’s holdings in Helmerich & Payne were worth $543,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HP. The Manufacturers Life Insurance Company lifted its stake in shares of Helmerich & Payne by 937.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 841,724 shares of the oil and gas company’s stock valued at $30,487,000 after acquiring an additional 760,554 shares during the last quarter. American Century Companies Inc. raised its position in Helmerich & Payne by 38.1% in the second quarter. American Century Companies Inc. now owns 1,862,362 shares of the oil and gas company’s stock valued at $67,306,000 after purchasing an additional 513,647 shares during the last quarter. ARGA Investment Management LP boosted its stake in shares of Helmerich & Payne by 55.4% during the first quarter. ARGA Investment Management LP now owns 1,378,705 shares of the oil and gas company’s stock valued at $57,988,000 after purchasing an additional 491,589 shares in the last quarter. LSV Asset Management grew its holdings in shares of Helmerich & Payne by 51.7% during the second quarter. LSV Asset Management now owns 1,189,318 shares of the oil and gas company’s stock worth $42,982,000 after purchasing an additional 405,179 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Helmerich & Payne by 9.4% in the second quarter. Pacer Advisors Inc. now owns 3,826,851 shares of the oil and gas company’s stock valued at $138,302,000 after buying an additional 327,802 shares during the period. Institutional investors own 96.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HP. Bank of America cut their target price on shares of Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research note on Monday, August 5th. Citigroup lowered their target price on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Royal Bank of Canada upped their price target 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 lowered their price objective 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 equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.88.

Helmerich & Payne Price Performance

Shares of HP opened at $30.41 on Tuesday. The firm has a market cap of $3.00 billion, a PE ratio of 8.69, a price-to-earnings-growth ratio of 3.62 and a beta of 1.42. Helmerich & Payne, Inc. has a 52-week low of $29.46 and a 52-week high of $44.80. The business’s 50 day moving average price is $33.62 and its two-hundred day moving average price is $36.82. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.87 and a current ratio of 2.12.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.15. The company had revenue of $697.70 million for the quarter, compared to the consensus estimate of $670.78 million. Helmerich & Payne had a net margin of 12.72% and a return on equity of 12.39%. Helmerich & Payne’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.09 EPS. On average, equities analysts anticipate that Helmerich & Payne, Inc. will post 3.48 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $0.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.00 annualized dividend and a dividend yield of 3.29%. 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.