Helmerich & Payne, Inc. (HP) Shares Sold by Investec Asset Management LTD
Investec Asset Management LTD trimmed its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 0.4% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,142,957 shares of the oil and gas company’s stock after selling 8,397 shares during the quarter. Investec Asset Management LTD owned about 1.97% of Helmerich & Payne worth $116,448,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Artisan Partners Limited Partnership increased its holdings in Helmerich & Payne by 68.8% in the 2nd quarter. Artisan Partners Limited Partnership now owns 3,904,089 shares of the oil and gas company’s stock worth $212,148,000 after buying an additional 1,590,793 shares in the last quarter. Thrivent Financial For Lutherans increased its holdings in Helmerich & Payne by 3.2% in the 2nd quarter. Thrivent Financial For Lutherans now owns 4,140 shares of the oil and gas company’s stock worth $225,000 after buying an additional 130 shares in the last quarter. BT Investment Management Ltd bought a new stake in Helmerich & Payne in the 2nd quarter worth about $577,000. Amalgamated Bank increased its holdings in Helmerich & Payne by 199.3% in the 2nd quarter. Amalgamated Bank now owns 20,919 shares of the oil and gas company’s stock worth $1,137,000 after buying an additional 13,929 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in Helmerich & Payne by 4.5% in the 2nd quarter. BlackRock Inc. now owns 11,459,741 shares of the oil and gas company’s stock worth $622,721,000 after buying an additional 492,673 shares in the last quarter.
In other Helmerich & Payne news, CEO John W. Lindsay acquired 5,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were bought at an average cost of $47.73 per share, with a total value of $238,650.00. Following the completion of the acquisition, the chief executive officer now owns 147,727 shares in the company, valued at $7,051,009.71. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.90% of the stock is currently owned by company insiders.
Several equities research analysts recently commented on the company. Goldman Sachs Group, Inc. (The) downgraded Helmerich & Payne from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $63.00 to $45.00 in a report on Monday, May 22nd. Royal Bank Of Canada restated a “hold” rating and set a $65.00 price target on shares of Helmerich & Payne in a research note on Thursday, July 20th. BidaskClub upgraded Helmerich & Payne from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Zacks Investment Research downgraded Helmerich & Payne from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, BMO Capital Markets cut their price target on Helmerich & Payne from $54.00 to $40.00 and set an “underperform” rating for the company in a research note on Friday, July 14th. Eight analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $57.32.
Helmerich & Payne, Inc. (NYSE:HP) traded up 0.82% on Friday, reaching $50.19. The company had a trading volume of 2,320,426 shares. Helmerich & Payne, Inc. has a 1-year low of $42.16 and a 1-year high of $85.78. The stock’s market capitalization is $5.45 billion. The stock’s 50 day moving average is $46.17 and its 200-day moving average is $56.52.
Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Thursday, July 27th. The oil and gas company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.05. Helmerich & Payne had a negative return on equity of 3.37% and a negative net margin of 11.19%. The company had revenue of $498.60 million for the quarter, compared to analyst estimates of $452.42 million. During the same period last year, the company earned ($0.20) earnings per share. Helmerich & Payne’s quarterly revenue was up 36.0% compared to the same quarter last year. On average, equities analysts predict that Helmerich & Payne, Inc. will post ($1.30) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 13th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 5.58%. The ex-dividend date is Friday, November 10th. Helmerich & Payne’s payout ratio is currently -167.66%.
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Helmerich & Payne Profile
Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.
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