Massachusetts Financial Services Co. MA Cuts Stake in Helmerich & Payne, Inc. (NYSE:HP)

Massachusetts Financial Services Co. MA cut its stake in Helmerich & Payne, Inc. (NYSE:HP) by 41.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 546,232 shares of the oil and gas company’s stock after selling 381,034 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.55% of Helmerich & Payne worth $16,616,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. grew its holdings in shares of Helmerich & Payne by 38.1% during the second 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 in the last quarter. Earnest Partners LLC grew its stake in Helmerich & Payne by 15.7% during the 2nd quarter. Earnest Partners LLC now owns 3,469,609 shares of the oil and gas company’s stock valued at $125,392,000 after acquiring an additional 471,420 shares in the last quarter. LSV Asset Management raised its holdings in Helmerich & Payne by 51.7% in the 2nd quarter. LSV Asset Management now owns 1,189,318 shares of the oil and gas company’s stock valued at $42,982,000 after acquiring an additional 405,179 shares during the last quarter. Pacer Advisors Inc. raised its holdings in Helmerich & Payne by 9.4% in the 2nd quarter. Pacer Advisors Inc. now owns 3,826,851 shares of the oil and gas company’s stock valued at $138,302,000 after acquiring an additional 327,802 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Helmerich & Payne by 1,241.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 348,571 shares of the oil and gas company’s stock worth $10,604,000 after purchasing an additional 322,578 shares during the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Helmerich & Payne Price Performance

HP stock opened at $35.26 on Tuesday. The business’s fifty day moving average price is $33.95 and its 200 day moving average price is $34.95. Helmerich & Payne, Inc. has a 12-month low of $29.46 and a 12-month high of $44.11. 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 company has a market capitalization of $3.48 billion, a PE ratio of 10.25, a P/E/G ratio of 4.29 and a beta of 1.40.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.76. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The company had revenue of $693.79 million for the quarter, compared to analyst estimates of $695.99 million. During the same period in the prior year, the firm earned $0.69 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Helmerich & Payne, Inc. will post 3.21 EPS for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.00 annualized dividend and a yield of 2.84%. Helmerich & Payne’s dividend payout ratio is presently 29.07%.

Analyst Ratings Changes

A number of brokerages recently commented on HP. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. The Goldman Sachs Group lowered 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. Barclays dropped their price objective on shares of Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a report on Wednesday, November 20th. Citigroup reduced their target price on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Finally, Royal Bank of Canada dropped their price target on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating for the company in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $38.57.

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.