New York State Teachers Retirement System Trims Stock Holdings in Helmerich & Payne, Inc. $HP

New York State Teachers Retirement System trimmed its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 7.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 99,310 shares of the oil and gas company’s stock after selling 8,234 shares during the period. New York State Teachers Retirement System owned approximately 0.10% of Helmerich & Payne worth $1,506,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in Helmerich & Payne by 28.4% in the 1st quarter. Victory Capital Management Inc. now owns 3,553,181 shares of the oil and gas company’s stock worth $92,809,000 after acquiring an additional 786,250 shares during the last quarter. Invesco Ltd. increased 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 valued at $70,632,000 after purchasing an additional 535,808 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in Helmerich & Payne during the 1st quarter valued at about $10,635,000. American Century Companies Inc. boosted its holdings in 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 valued at $77,938,000 after acquiring an additional 325,484 shares during the period. Finally, Nuveen LLC purchased a new stake in Helmerich & Payne during the 1st quarter valued at about $6,486,000. 96.05% of the stock is currently owned by institutional investors.

Insider Activity at Helmerich & Payne

In related news, CAO Sara Marie Momper sold 6,700 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $17.83, for a total value of $119,461.00. Following the sale, the chief accounting officer directly owned 21,908 shares in the company, valued at approximately $390,619.64. The trade was a 23.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.51% of the company’s stock.

Helmerich & Payne Stock Performance

NYSE:HP opened at $23.49 on Thursday. The firm has a market capitalization of $2.34 billion, a PE ratio of -71.17 and a beta of 0.91. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.43 and a current ratio of 1.84. The stock has a 50-day simple moving average of $21.23 and a two-hundred day simple moving average of $18.78. Helmerich & Payne, Inc. has a 52-week low of $14.65 and a 52-week high of $37.46.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1 billion. Helmerich & Payne had a positive return on equity of 5.81% and a negative net margin of 0.90%.The business’s quarterly revenue was up 49.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 earnings per share. Analysts forecast that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Tuesday, November 18th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Tuesday, November 18th. Helmerich & Payne’s payout ratio is currently -303.03%.

Wall Street Analysts Forecast Growth

HP has been the subject of several research analyst reports. Zacks Research upgraded Helmerich & Payne to a “hold” rating in a report on Monday, August 11th. TD Cowen raised their price objective on Helmerich & Payne from $26.00 to $27.00 and gave the company a “hold” rating in a research report on Tuesday, August 19th. Barclays set a $25.00 price objective on Helmerich & Payne and gave the company an “overweight” rating in a research report on Monday, September 22nd. 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 research note on Friday, August 8th. Finally, The Goldman Sachs Group boosted their price target on Helmerich & Payne from $18.00 to $20.00 and gave the stock a “sell” rating in a research note on Monday, October 6th. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Helmerich & Payne presently has a consensus rating of “Reduce” and a consensus price target of $24.20.

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.