Helmerich & Payne, Inc. $HP Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 1.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 929,871 shares of the oil and gas company’s stock after selling 14,204 shares during the period. Bank of New York Mellon Corp owned 0.93% of Helmerich & Payne worth $33,503,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in HP. Royal Bank of Canada raised its holdings in shares of Helmerich & Payne by 4.4% during the 1st quarter. Royal Bank of Canada now owns 104,180 shares of the oil and gas company’s stock valued at $2,721,000 after buying an additional 4,394 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Helmerich & Payne by 6.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 58,630 shares of the oil and gas company’s stock valued at $1,531,000 after purchasing an additional 3,611 shares during the period. NewEdge Advisors LLC lifted its position in shares of Helmerich & Payne by 39,685.1% during the first quarter. NewEdge Advisors LLC now owns 34,613 shares of the oil and gas company’s stock worth $904,000 after purchasing an additional 34,526 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Helmerich & Payne by 9.9% during the first quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company’s stock worth $247,000 after purchasing an additional 852 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Helmerich & Payne by 34.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,445 shares of the oil and gas company’s stock valued at $5,575,000 after purchasing an additional 54,758 shares during the period. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on HP. Morgan Stanley reiterated an “underweight” rating and issued a $36.00 price objective on shares of Helmerich & Payne in a report on Wednesday, July 15th. The Goldman Sachs Group raised their target price on Helmerich & Payne from $35.00 to $41.00 and gave the company a “neutral” rating in a research note on Wednesday, June 3rd. Barclays lifted their target price on Helmerich & Payne from $39.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Susquehanna reduced their price target on Helmerich & Payne from $43.00 to $40.00 and set a “positive” rating for the company in a report on Wednesday, July 8th. Finally, Royal Bank Of Canada increased their price objective on shares of Helmerich & Payne from $38.00 to $40.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Helmerich & Payne currently has an average rating of “Hold” and an average price target of $39.80.

Helmerich & Payne Stock Performance

Helmerich & Payne stock opened at $35.29 on Monday. The company has a market cap of $3.53 billion, a PE ratio of -9.31 and a beta of 0.60. The company has a fifty day moving average price of $36.02 and a two-hundred day moving average price of $35.43. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 1.32. Helmerich & Payne, Inc. has a 12 month low of $15.17 and a 12 month high of $41.82.

Helmerich & Payne (NYSE:HP) last released its earnings results on Wednesday, May 6th. The oil and gas company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.32). Helmerich & Payne had a negative net margin of 9.38% and a negative return on equity of 1.16%. The business had revenue of $932.36 million for the quarter, compared to the consensus estimate of $945.60 million. During the same quarter in the previous year, the firm earned $0.01 EPS. The firm’s revenue for the quarter was down 8.2% on a year-over-year basis. Research analysts expect that Helmerich & Payne, Inc. will post -0.11 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.8%. Helmerich & Payne’s dividend payout ratio (DPR) is currently -26.39%.

Helmerich & Payne Company Profile

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.