Bank of New York Mellon Corp Reduces Stock Holdings in Helmerich & Payne, Inc. $HP

Bank of New York Mellon Corp cut its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 7.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,006,888 shares of the oil and gas company’s stock after selling 85,213 shares during the period. Bank of New York Mellon Corp owned about 1.01% of Helmerich & Payne worth $15,264,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in HP. Dimensional Fund Advisors LP raised its position in Helmerich & Payne by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 5,483,028 shares of the oil and gas company’s stock worth $143,209,000 after acquiring an additional 71,168 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Helmerich & Payne by 12.2% during the 1st quarter. American Century Companies Inc. now owns 2,983,840 shares of the oil and gas company’s stock worth $77,938,000 after purchasing an additional 325,484 shares in the last quarter. Invesco Ltd. raised its position in shares of Helmerich & Payne by 24.7% during the 1st quarter. Invesco Ltd. now owns 2,704,134 shares of the oil and gas company’s stock worth $70,632,000 after purchasing an additional 535,808 shares during the last quarter. LSV Asset Management lifted its stake in Helmerich & Payne by 16.8% in the 1st quarter. LSV Asset Management now owns 1,504,671 shares of the oil and gas company’s stock valued at $39,302,000 after buying an additional 216,560 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Helmerich & Payne by 10.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,399,501 shares of the oil and gas company’s stock valued at $36,555,000 after buying an additional 129,180 shares in the last quarter. 96.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Royal Bank Of Canada boosted their price target on Helmerich & Payne from $23.00 to $24.00 and gave the stock a “sector perform” rating in a report on Friday, August 8th. Zacks Research upgraded Helmerich & Payne to a “hold” rating in a research report on Monday, August 11th. TD Cowen boosted their target price on shares of Helmerich & Payne from $26.00 to $27.00 and gave the company a “hold” rating in a research note on Tuesday, August 19th. Wall Street Zen upgraded shares of Helmerich & Payne from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Piper Sandler raised their price target on shares of Helmerich & Payne from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, August 14th. Two research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Helmerich & Payne currently has a consensus rating of “Hold” and an average target price of $24.20.

Helmerich & Payne Stock Down 0.8%

Shares of NYSE:HP opened at $27.62 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.43 and a debt-to-equity ratio of 0.76. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of -83.69 and a beta of 0.94. The stock’s 50-day moving average price is $23.81 and its two-hundred day moving average price is $19.61. Helmerich & Payne, Inc. has a 12-month low of $14.65 and a 12-month high of $37.30.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Monday, November 17th. The oil and gas company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.27). Helmerich & Payne had a positive return on equity of 5.81% and a negative net margin of 0.90%.The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $972.79 million. During the same quarter in the previous year, the company earned $0.76 earnings per share. The company’s revenue was up 45.8% on a year-over-year basis. On average, research analysts forecast that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Tuesday, November 18th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Tuesday, November 18th. Helmerich & Payne’s dividend payout ratio (DPR) is -303.03%.

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.