BNP Paribas Arbitrage SNC lessened its stake in Helmerich & Payne, Inc. (NYSE:HP – Free Report) by 45.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 174,647 shares of the oil and gas company’s stock after selling 144,120 shares during the quarter. BNP Paribas Arbitrage SNC owned 0.18% of Helmerich & Payne worth $6,191,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Helmerich & Payne by 1.8% in the 1st quarter. BlackRock Inc. now owns 17,910,973 shares of the oil and gas company’s stock valued at $640,317,000 after purchasing an additional 319,188 shares during the period. Vanguard Group Inc. raised its position in shares of Helmerich & Payne by 0.7% in the third quarter. Vanguard Group Inc. now owns 11,891,665 shares of the oil and gas company’s stock worth $439,634,000 after acquiring an additional 86,545 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Helmerich & Payne by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 4,990,631 shares of the oil and gas company’s stock worth $178,415,000 after acquiring an additional 284,938 shares during the period. State Street Corp raised its holdings in Helmerich & Payne by 7.7% in the 1st quarter. State Street Corp now owns 4,335,243 shares of the oil and gas company’s stock worth $154,985,000 after purchasing an additional 310,770 shares during the period. Finally, Earnest Partners LLC raised its stake in shares of Helmerich & Payne by 406.4% during the 2nd quarter. Earnest Partners LLC now owns 2,815,763 shares of the oil and gas company’s stock worth $99,819,000 after buying an additional 2,259,679 shares during the period. Institutional investors and hedge funds own 96.05% of the company’s stock.
Insider Buying and Selling at Helmerich & Payne
In related news, SVP Raymond John Adams III sold 6,000 shares of Helmerich & Payne stock in a transaction on Monday, September 25th. The stock was sold at an average price of $42.48, for a total value of $254,880.00. Following the completion of the transaction, the senior vice president now directly owns 71,525 shares in the company, valued at $3,038,382. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Raymond John Adams III sold 6,000 shares of Helmerich & Payne stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $42.48, for a total value of $254,880.00. Following the completion of the transaction, the senior vice president now owns 71,525 shares in the company, valued at $3,038,382. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hans Helmerich sold 25,627 shares of Helmerich & Payne stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $42.46, for a total transaction of $1,088,122.42. Following the completion of the transaction, the director now owns 1,340,288 shares of the company’s stock, valued at approximately $56,908,628.48. The disclosure for this sale can be found here. Insiders sold 34,127 shares of company stock valued at $1,455,502 in the last 90 days. Company insiders own 4.16% of the company’s stock.
Helmerich & Payne Stock Performance
Helmerich & Payne (NYSE:HP – Get Free Report) last released its quarterly earnings results on Thursday, November 9th. The oil and gas company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.03). Helmerich & Payne had a return on equity of 15.76% and a net margin of 15.11%. The firm had revenue of $659.61 million for the quarter, compared to analysts’ expectations of $662.17 million. During the same quarter in the prior year, the business earned $0.45 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts anticipate that Helmerich & Payne, Inc. will post 3.13 earnings per share for the current year.
Helmerich & Payne Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Monday, November 20th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, November 17th. This represents a $1.00 annualized dividend and a yield of 2.60%. Helmerich & Payne’s dividend payout ratio is presently 24.04%.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on HP shares. StockNews.com downgraded Helmerich & Payne from a “buy” rating to a “hold” rating in a research report on Tuesday. The Goldman Sachs Group lifted their target price on shares of Helmerich & Payne from $33.00 to $37.00 and gave the stock a “sell” rating in a research note on Wednesday, August 9th. Citigroup upped their target price on shares of Helmerich & Payne from $38.00 to $42.00 in a report on Friday, October 6th. Morgan Stanley upped their price target on Helmerich & Payne from $42.00 to $44.00 and gave the company an “underweight” rating in a research report on Tuesday, October 17th. Finally, Atb Cap Markets lowered Helmerich & Payne from an “outperform” rating to a “sector perform” rating in a research report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $47.70.
Helmerich & Payne Company 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.
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