DekaBank Deutsche Girozentrale cut its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 43.7% in the 3rd quarter, Holdings Channel reports. The firm owned 10,569 shares of the oil and gas company’s stock after selling 8,200 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Helmerich & Payne were worth $731,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Helmerich & Payne by 17.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,018 shares of the oil and gas company’s stock worth $2,202,000 after acquiring an additional 4,814 shares during the last quarter. Ontario Teachers Pension Plan Board increased its stake in Helmerich & Payne by 52.6% in the third quarter. Ontario Teachers Pension Plan Board now owns 15,428 shares of the oil and gas company’s stock valued at $1,061,000 after purchasing an additional 5,315 shares during the last quarter. FMR LLC increased its stake in Helmerich & Payne by 16.4% in the third quarter. FMR LLC now owns 144,955 shares of the oil and gas company’s stock valued at $9,968,000 after purchasing an additional 20,414 shares during the last quarter. Rafferty Asset Management LLC acquired a new position in Helmerich & Payne in the third quarter valued at $3,687,000. Finally, American International Group Inc. increased its stake in Helmerich & Payne by 6.4% in the third quarter. American International Group Inc. now owns 42,096 shares of the oil and gas company’s stock valued at $2,895,000 after purchasing an additional 2,536 shares during the last quarter. 90.68% of the stock is owned by hedge funds and other institutional investors.

In other Helmerich & Payne news, CEO John W. Lindsay sold 30,000 shares of the business’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $70.00, for a total transaction of $2,100,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John R. Bell sold 13,000 shares of the business’s stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $60.17, for a total value of $782,210.00. Following the sale, the vice president now directly owns 63,375 shares of the company’s stock, valued at approximately $3,813,273.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,309 shares of company stock valued at $3,618,765. 4.10% of the stock is owned by company insiders.

HP stock opened at $60.74 on Friday. Helmerich & Payne, Inc. has a 12-month low of $56.72 and a 12-month high of $75.02. The company has a quick ratio of 2.54, a current ratio of 2.96 and a debt-to-equity ratio of 0.11. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 433.86 and a beta of 1.30.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Thursday, November 15th. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. Helmerich & Payne had a return on equity of 0.41% and a net margin of 19.41%. The firm had revenue of $696.83 million during the quarter, compared to the consensus estimate of $683.89 million. On average, research analysts anticipate that Helmerich & Payne, Inc. will post 1.74 earnings per share for the current year.

Several research firms recently commented on HP. Seaport Global Securities upgraded Helmerich & Payne from a “sell” rating to a “neutral” rating and upped their target price for the company from $61.00 to $64.00 in a research note on Friday. Cowen reiterated a “hold” rating and issued a $61.00 target price on shares of Helmerich & Payne in a research note on Monday, December 3rd. Bank of America upgraded Helmerich & Payne from an “underperform” rating to a “neutral” rating and dropped their target price for the company from $71.00 to $64.00 in a research note on Monday, December 3rd. Piper Jaffray Companies set a $69.00 target price on Helmerich & Payne and gave the company a “hold” rating in a research note on Monday, November 26th. Finally, Zacks Investment Research upgraded Helmerich & Payne from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Wednesday, November 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $72.11.

COPYRIGHT VIOLATION NOTICE: “DekaBank Deutsche Girozentrale Trims Position in Helmerich & Payne, Inc. (HP)” was posted by Daily Political and is the property of of Daily Political. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of US & international copyright & trademark legislation. The original version of this news story can be accessed at https://www.dailypolitical.com/2018/12/08/dekabank-deutsche-girozentrale-trims-position-in-helmerich-payne-inc-hp.html.

About Helmerich & Payne

Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.

Read More: Put Option

Want to see what other hedge funds are holding HP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Helmerich & Payne, Inc. (NYSE:HP).

Institutional Ownership by Quarter for Helmerich & Payne (NYSE:HP)

Receive News & Ratings for Helmerich & Payne Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Helmerich & Payne and related companies with MarketBeat.com's FREE daily email newsletter.