Envestnet Asset Management Inc. Sells 27,240 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Envestnet Asset Management Inc. decreased its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 6.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 389,836 shares of the oil and gas company’s stock after selling 27,240 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Helmerich & Payne were worth $14,089,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Oppenheimer Asset Management Inc. boosted its stake in shares of Helmerich & Payne by 32.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 37,016 shares of the oil and gas company’s stock valued at $1,338,000 after purchasing an additional 9,157 shares in the last quarter. American Century Companies Inc. boosted its position in Helmerich & Payne by 38.1% during the 2nd quarter. American Century Companies Inc. now owns 1,862,362 shares of the oil and gas company’s stock worth $67,306,000 after buying an additional 513,647 shares during the period. Headlands Technologies LLC grew its holdings in Helmerich & Payne by 96.9% during the 2nd quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company’s stock worth $56,000 after acquiring an additional 757 shares during the last quarter. Texas Permanent School Fund Corp increased its position in Helmerich & Payne by 25.1% in the 2nd quarter. Texas Permanent School Fund Corp now owns 108,225 shares of the oil and gas company’s stock valued at $3,911,000 after acquiring an additional 21,733 shares during the period. Finally, Choreo LLC bought a new position in shares of Helmerich & Payne during the second quarter valued at $533,000. Institutional investors own 96.05% of the company’s stock.

Helmerich & Payne Trading Down 0.4 %

NYSE:HP opened at $32.85 on Wednesday. Helmerich & Payne, Inc. has a 12 month low of $29.46 and a 12 month high of $45.04. The company has a current ratio of 2.12, a quick ratio of 1.87 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 9.39, a PEG ratio of 3.29 and a beta of 1.42. The firm has a fifty day simple moving average of $34.32 and a two-hundred day simple moving average of $37.08.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.77 by $0.15. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The company had revenue of $697.70 million during the quarter, compared to the consensus estimate of $670.78 million. During the same period last year, the business posted $1.09 EPS. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. Analysts expect that Helmerich & Payne, Inc. will post 3.57 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Monday, November 18th. Helmerich & Payne’s payout ratio is 28.57%.

Analyst Ratings Changes

Several brokerages recently weighed in on HP. Evercore ISI raised shares of Helmerich & Payne to a “strong-buy” rating in a research note on Friday, July 26th. Royal Bank of Canada increased their price target on Helmerich & Payne from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Bank of America cut their price objective on Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research report on Monday, August 5th. Finally, The Goldman Sachs Group dropped their price target on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research report on Thursday, August 29th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $40.88.

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.