Helmerich & Payne, Inc. (NYSE:HP) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its stake in Helmerich & Payne, Inc. (NYSE:HP) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 324,274 shares of the oil and gas company’s stock after selling 20,898 shares during the period. Ameriprise Financial Inc. owned 0.33% of Helmerich & Payne worth $10,383,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HP. Earnest Partners LLC lifted its holdings in shares of Helmerich & Payne by 1.0% in the 4th quarter. Earnest Partners LLC now owns 3,487,019 shares of the oil and gas company’s stock valued at $111,654,000 after buying an additional 35,013 shares during the period. ARGA Investment Management LP lifted its holdings in Helmerich & Payne by 42.5% in the fourth quarter. ARGA Investment Management LP now owns 2,686,215 shares of the oil and gas company’s stock valued at $86,013,000 after acquiring an additional 801,000 shares during the period. American Century Companies Inc. boosted its position in Helmerich & Payne by 14.0% in the 4th quarter. American Century Companies Inc. now owns 2,658,356 shares of the oil and gas company’s stock worth $85,121,000 after purchasing an additional 327,374 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Helmerich & Payne by 5.1% during the 4th quarter. Northern Trust Corp now owns 1,699,388 shares of the oil and gas company’s stock valued at $54,414,000 after purchasing an additional 82,254 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Helmerich & Payne by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,557,931 shares of the oil and gas company’s stock valued at $49,885,000 after purchasing an additional 53,277 shares during the period. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Barclays decreased their price objective on shares of Helmerich & Payne from $24.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 14th. Citigroup reaffirmed a “neutral” rating and issued a $19.00 price target (down previously from $25.00) on shares of Helmerich & Payne in a report on Monday. The Goldman Sachs Group cut their price objective on Helmerich & Payne from $32.00 to $25.00 and set a “sell” rating for the company in a research report on Thursday, April 10th. Argus upgraded Helmerich & Payne to a “hold” rating in a research report on Tuesday, February 11th. Finally, StockNews.com lowered shares of Helmerich & Payne from a “hold” rating to a “sell” rating in a report on Friday, May 9th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $28.80.

Helmerich & Payne Trading Down 5.4%

HP opened at $16.84 on Tuesday. The stock has a market capitalization of $1.67 billion, a PE ratio of 5.54, a P/E/G ratio of 3.52 and a beta of 0.93. Helmerich & Payne, Inc. has a one year low of $16.68 and a one year high of $42.60. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81. The business’s 50 day moving average price is $21.36 and its 200 day moving average price is $28.16.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.63). The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $961.03 million. Helmerich & Payne had a net margin of 11.02% and a return on equity of 11.31%. The business’s revenue for the quarter was up 47.7% on a year-over-year basis. During the same period last year, the company earned $0.84 EPS. As a group, equities research analysts expect that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.94%. The ex-dividend date of this dividend is Thursday, May 15th. Helmerich & Payne’s dividend payout ratio (DPR) is 45.66%.

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.