Oppenheimer Asset Management Inc. Sells 602 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Oppenheimer Asset Management Inc. trimmed its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 1.6% in the third quarter, Holdings Channel.com reports. The fund owned 36,414 shares of the oil and gas company’s stock after selling 602 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Helmerich & Payne were worth $1,108,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HP. American Century Companies Inc. boosted its position in Helmerich & Payne by 38.1% in the second quarter. American Century Companies Inc. now owns 1,862,362 shares of the oil and gas company’s stock valued at $67,306,000 after buying an additional 513,647 shares in the last quarter. Earnest Partners LLC raised its stake in shares of Helmerich & Payne by 15.7% in the second quarter. Earnest Partners LLC now owns 3,469,609 shares of the oil and gas company’s stock worth $125,392,000 after acquiring an additional 471,420 shares during the last quarter. LSV Asset Management raised its stake in shares of Helmerich & Payne by 51.7% in the second quarter. LSV Asset Management now owns 1,189,318 shares of the oil and gas company’s stock worth $42,982,000 after acquiring an additional 405,179 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Helmerich & Payne by 9.4% in the second quarter. Pacer Advisors Inc. now owns 3,826,851 shares of the oil and gas company’s stock worth $138,302,000 after acquiring an additional 327,802 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of 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 acquiring an additional 200,700 shares during the last quarter. 96.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on HP shares. Citigroup dropped their target price 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. Royal Bank of Canada dropped 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 note on Friday. The Goldman Sachs Group dropped their price target on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a research note on Thursday, August 29th. Barclays dropped their price target on shares of Helmerich & Payne from $42.00 to $39.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 16th. Finally, Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Helmerich & Payne currently has a consensus rating of “Hold” and a consensus target price of $39.00.

Helmerich & Payne Stock Up 0.1 %

Shares of NYSE:HP opened at $33.62 on Tuesday. Helmerich & Payne, Inc. has a 52 week low of $29.46 and a 52 week high of $44.11. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.87 and a current ratio of 2.67. The company has a market capitalization of $3.32 billion, a PE ratio of 9.77, a PEG ratio of 3.59 and a beta of 1.40. The company has a 50 day moving average price of $33.53 and a two-hundred day moving average price of $35.09.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The firm had revenue of $693.79 million during the quarter, compared to the consensus estimate of $695.99 million. During the same quarter in the prior year, the firm earned $0.69 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts forecast that Helmerich & Payne, Inc. will post 3.57 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Monday, November 18th. Helmerich & Payne’s dividend payout ratio (DPR) is presently 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.