Atria Investments Inc Trims Stake in Helmerich & Payne, Inc. (NYSE:HP)

Atria Investments Inc decreased its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 22.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,887 shares of the oil and gas company’s stock after selling 3,144 shares during the quarter. Atria Investments Inc’s holdings in Helmerich & Payne were worth $331,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wedge Capital Management L L P NC lifted its stake in Helmerich & Payne by 13.1% in the second quarter. Wedge Capital Management L L P NC now owns 188,402 shares of the oil and gas company’s stock worth $6,809,000 after acquiring an additional 21,852 shares during the period. Caxton Associates LP purchased a new stake in shares of Helmerich & Payne in the 1st quarter worth approximately $642,000. Bayesian Capital Management LP bought a new position in shares of Helmerich & Payne during the first quarter valued at approximately $837,000. William B. Walkup & Associates Inc. purchased a new position in Helmerich & Payne during the second quarter valued at approximately $1,274,000. Finally, Canada Pension Plan Investment Board raised its stake in Helmerich & Payne by 120.6% in the second quarter. Canada Pension Plan Investment Board now owns 367,100 shares of the oil and gas company’s stock worth $13,267,000 after buying an additional 200,700 shares in the last quarter. Institutional investors own 96.05% of the company’s stock.

Analyst Ratings Changes

HP has been the topic of a number of analyst reports. The Goldman Sachs Group cut their price target on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. Royal Bank of Canada decreased their price target on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating for the company in a research report on Friday, November 15th. Citigroup reduced their price objective on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, September 13th. Evercore ISI upgraded shares of Helmerich & Payne to a “strong-buy” rating in a research note on Friday, July 26th. Finally, Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research report on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $38.57.

Helmerich & Payne Stock Up 4.7 %

Shares of NYSE HP opened at $36.05 on Friday. The stock has a market cap of $3.56 billion, a PE ratio of 10.48, a P/E/G ratio of 3.97 and a beta of 1.40. The company has a current ratio of 2.67, a quick ratio of 2.40 and a debt-to-equity ratio of 0.61. Helmerich & Payne, Inc. has a 12-month low of $29.46 and a 12-month high of $44.11. The company has a 50-day moving average of $33.86 and a 200 day moving average of $35.02.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.76. The firm had revenue of $693.79 million during the quarter, compared to analyst estimates of $695.99 million. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. Helmerich & Payne’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.69 earnings per share. As a group, sell-side analysts predict that Helmerich & Payne, Inc. will post 3.21 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Monday, November 18th. Helmerich & Payne’s dividend payout ratio (DPR) is 29.07%.

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.