Meeder Asset Management Inc. Sells 6,352 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Meeder Asset Management Inc. trimmed its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 78.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,786 shares of the oil and gas company’s stock after selling 6,352 shares during the period. Meeder Asset Management Inc.’s holdings in Helmerich & Payne were worth $65,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Global Alpha Capital Management Ltd. boosted its position in shares of Helmerich & Payne by 51.6% during the 3rd quarter. Global Alpha Capital Management Ltd. now owns 559,491 shares of the oil and gas company’s stock valued at $23,588,000 after acquiring an additional 190,400 shares during the last quarter. Gotham Asset Management LLC increased its holdings in shares of Helmerich & Payne by 92.7% in the 3rd quarter. Gotham Asset Management LLC now owns 59,596 shares of the oil and gas company’s stock worth $2,513,000 after buying an additional 28,675 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in shares of Helmerich & Payne during the 3rd quarter valued at about $1,053,000. Deutsche Bank AG lifted its holdings in shares of Helmerich & Payne by 37.4% in the 3rd quarter. Deutsche Bank AG now owns 61,596 shares of the oil and gas company’s stock valued at $2,597,000 after acquiring an additional 16,774 shares during the last quarter. Finally, Boston Trust Walden Corp grew its position in Helmerich & Payne by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 2,214,742 shares of the oil and gas company’s stock worth $80,218,000 after acquiring an additional 34,863 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. The Goldman Sachs Group dropped their target price on Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating for the company in a report on Friday, January 12th. Benchmark cut shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Barclays downgraded shares of Helmerich & Payne from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $44.00 to $40.00 in a report on Wednesday, January 10th. Susquehanna boosted their target price on Helmerich & Payne from $50.00 to $52.00 and gave the company a “positive” rating in a research report on Monday. Finally, Royal Bank of Canada upped their target price on Helmerich & Payne from $46.00 to $48.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 31st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $42.88.

Helmerich & Payne Price Performance

Shares of HP stock opened at $43.09 on Wednesday. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 10.28, a P/E/G ratio of 9.29 and a beta of 1.51. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.20. Helmerich & Payne, Inc. has a twelve month low of $30.41 and a twelve month high of $46.55. The stock has a fifty day simple moving average of $39.89 and a two-hundred day simple moving average of $38.64.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Tuesday, January 30th. The oil and gas company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.24. Helmerich & Payne had a net margin of 15.27% and a return on equity of 15.06%. The company had revenue of $677.00 million for the quarter, compared to analysts’ expectations of $661.81 million. During the same period in the prior year, the business earned $1.11 EPS. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. On average, analysts predict that Helmerich & Payne, Inc. will post 3.5 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.68 dividend on an annualized basis and a yield of 3.90%. Helmerich & Payne’s dividend payout ratio is currently 23.87%.

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.