Raymond James & Associates Sells 8,246 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Raymond James & Associates decreased its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 10.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 69,851 shares of the oil and gas company’s stock after selling 8,246 shares during the quarter. Raymond James & Associates’ holdings in Helmerich & Payne were worth $2,524,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Ridgewood Investments LLC grew its position in shares of Helmerich & Payne by 2.5% during the 1st quarter. Ridgewood Investments LLC now owns 12,852 shares of the oil and gas company’s stock worth $541,000 after buying an additional 308 shares in the last quarter. Lindbrook Capital LLC grew its position in shares of Helmerich & Payne by 26.4% during the 1st quarter. Lindbrook Capital LLC now owns 1,698 shares of the oil and gas company’s stock worth $71,000 after buying an additional 355 shares in the last quarter. Marathon Capital Management grew its position in shares of Helmerich & Payne by 0.4% during the 4th quarter. Marathon Capital Management now owns 109,315 shares of the oil and gas company’s stock worth $3,959,000 after buying an additional 409 shares in the last quarter. Savant Capital LLC grew its position in shares of Helmerich & Payne by 3.0% during the 4th quarter. Savant Capital LLC now owns 14,882 shares of the oil and gas company’s stock worth $539,000 after buying an additional 438 shares in the last quarter. Finally, M&T Bank Corp grew its position in shares of Helmerich & Payne by 5.7% during the 4th quarter. M&T Bank Corp now owns 8,510 shares of the oil and gas company’s stock worth $308,000 after buying an additional 457 shares in the last quarter. Institutional investors own 96.05% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HP. Royal Bank of Canada increased their price target on Helmerich & Payne from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. The Goldman Sachs Group dropped their price objective on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research report on Thursday. Piper Sandler dropped their price objective on Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Bank of America dropped their price objective on Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Finally, Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $42.00.

Helmerich & Payne Price Performance

Shares of NYSE HP opened at $32.63 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.87 and a current ratio of 2.12. The company has a market cap of $3.22 billion, a PE ratio of 9.32, a P/E/G ratio of 3.50 and a beta of 1.47. The business has a 50-day simple moving average of $36.02 and a two-hundred day simple moving average of $37.97. Helmerich & Payne, Inc. has a fifty-two week low of $31.98 and a fifty-two week high of $46.55.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.15. The business had revenue of $697.70 million during the quarter, compared to the consensus estimate of $670.78 million. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the company earned $1.09 earnings per share. As a group, equities analysts expect that Helmerich & Payne, Inc. will post 3.56 EPS for the current fiscal year.

Helmerich & Payne Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.06%. The ex-dividend date was Friday, August 16th. Helmerich & Payne’s dividend payout ratio is presently 28.57%.

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.