Rhumbline Advisers Sells 8,940 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Rhumbline Advisers lowered its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 2.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 298,332 shares of the oil and gas company’s stock after selling 8,940 shares during the period. Rhumbline Advisers owned about 0.30% of Helmerich & Payne worth $7,792,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of HP. Kestra Investment Management LLC bought a new stake in shares of Helmerich & Payne in the 4th quarter valued at about $27,000. Versant Capital Management Inc lifted its stake in shares of Helmerich & Payne by 104.2% in the 1st quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 867 shares during the period. Covestor Ltd lifted its stake in shares of Helmerich & Payne by 61.3% in the 4th quarter. Covestor Ltd now owns 2,386 shares of the oil and gas company’s stock valued at $76,000 after purchasing an additional 907 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of Helmerich & Payne by 82.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,805 shares of the oil and gas company’s stock valued at $88,000 after purchasing an additional 1,268 shares during the period. Finally, Sterling Capital Management LLC lifted its stake in shares of Helmerich & Payne by 817.5% in the 4th quarter. Sterling Capital Management LLC now owns 3,046 shares of the oil and gas company’s stock valued at $98,000 after purchasing an additional 2,714 shares during the period. Institutional investors own 96.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group dropped their price objective on Helmerich & Payne from $32.00 to $25.00 and set a “sell” rating on the stock in a research note on Thursday, April 10th. Argus raised Helmerich & Payne to a “hold” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. dropped their price target on Helmerich & Payne from $25.00 to $17.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 28th. Wall Street Zen downgraded Helmerich & Payne from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Finally, Susquehanna dropped their price target on Helmerich & Payne from $43.00 to $28.00 and set a “positive” rating on the stock in a research note on Monday, April 14th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Helmerich & Payne has a consensus rating of “Hold” and an average target price of $27.73.

Helmerich & Payne Stock Performance

Shares of HP opened at $18.90 on Wednesday. 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 stock has a 50 day moving average price of $18.37 and a two-hundred day moving average price of $26.10. The firm has a market capitalization of $1.88 billion, a P/E ratio of 6.22, a P/E/G ratio of 3.52 and a beta of 0.83. Helmerich & Payne, Inc. has a 52 week low of $14.65 and a 52 week high of $42.60.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share (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 the consensus estimate 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 was up 47.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.84 earnings per share. Equities analysts forecast that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.29%. The ex-dividend date is Friday, August 15th. Helmerich & Payne’s dividend payout ratio is presently 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.