Helmerich & Payne, Inc. (NYSE:HP) Stock Holdings Decreased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 6.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,651 shares of the oil and gas company’s stock after selling 960 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Helmerich & Payne were worth $446,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC raised its stake in Helmerich & Payne by 48.0% during the first quarter. Janney Montgomery Scott LLC now owns 10,533 shares of the oil and gas company’s stock valued at $443,000 after buying an additional 3,416 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Helmerich & Payne by 16.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 33,184 shares of the oil and gas company’s stock valued at $1,396,000 after acquiring an additional 4,650 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Helmerich & Payne during the 1st quarter valued at approximately $208,000. Covestor Ltd lifted its stake in Helmerich & Payne by 253.4% during the first quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 674 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in Helmerich & Payne by 112.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 20,386 shares of the oil and gas company’s stock worth $857,000 after purchasing an additional 10,810 shares during the period. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on HP shares. Evercore ISI raised shares of Helmerich & Payne to a “strong-buy” rating in a report on Friday, July 26th. Barclays dropped their price objective on shares of Helmerich & Payne from $42.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 16th. Royal Bank of Canada cut their target price on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a report on Friday, November 15th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a report on Monday, August 5th. Finally, The Goldman Sachs Group cut their price target on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $39.00.

Helmerich & Payne Stock Performance

HP opened at $33.40 on Wednesday. The company has a current ratio of 2.67, a quick ratio of 2.40 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $33.60 and its 200-day moving average is $35.05. The stock has a market cap of $3.30 billion, a PE ratio of 9.71, a price-to-earnings-growth ratio of 3.62 and a beta of 1.40. Helmerich & Payne, Inc. has a twelve month low of $29.46 and a twelve month high of $44.11.

Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 EPS for the quarter, meeting the consensus estimate of $0.76. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. The firm had revenue of $693.79 million for the quarter, compared to analysts’ expectations of $695.99 million. During the same period last year, the firm earned $0.69 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. On average, analysts predict that Helmerich & Payne, Inc. will post 3.57 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.99%. The ex-dividend date is Monday, November 18th. Helmerich & Payne’s payout ratio is currently 29.07%.

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.