Envestnet Portfolio Solutions Inc. Trims Stake in Helmerich & Payne, Inc. (NYSE:HP)

Envestnet Portfolio Solutions Inc. lessened its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 25.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 6,631 shares of the oil and gas company’s stock after selling 2,224 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Helmerich & Payne were worth $240,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Ridgewood Investments LLC increased its stake in Helmerich & Payne by 2.5% in 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 during the period. Lindbrook Capital LLC increased its position in shares of Helmerich & Payne by 26.4% during the first quarter. Lindbrook Capital LLC now owns 1,698 shares of the oil and gas company’s stock worth $71,000 after acquiring an additional 355 shares during the period. Marathon Capital Management raised its stake in shares of Helmerich & Payne by 0.4% during the fourth quarter. Marathon Capital Management now owns 109,315 shares of the oil and gas company’s stock valued at $3,959,000 after acquiring an additional 409 shares in the last quarter. Savant Capital LLC boosted its holdings in shares of Helmerich & Payne by 3.0% in the fourth quarter. Savant Capital LLC now owns 14,882 shares of the oil and gas company’s stock valued at $539,000 after purchasing an additional 438 shares during the period. Finally, M&T Bank Corp grew its stake in Helmerich & Payne by 5.7% in the fourth quarter. M&T Bank Corp now owns 8,510 shares of the oil and gas company’s stock worth $308,000 after purchasing an additional 457 shares in the last quarter. Institutional investors own 96.05% of the company’s stock.

Analysts Set New Price Targets

HP has been the subject of several research reports. Bank of America lowered their target price on Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating for the company in a report on Monday, July 15th. Piper Sandler cut their target price on shares of Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Royal Bank of Canada upped their target price on Helmerich & Payne from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Friday, July 26th. Susquehanna decreased their price target on shares of Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating for the company in a research report on Friday, April 26th. Finally, Evercore ISI raised Helmerich & Payne to a “strong-buy” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $41.88.

Helmerich & Payne Trading Up 3.3 %

Helmerich & Payne stock opened at $33.46 on Friday. The firm has a market cap of $3.30 billion, a PE ratio of 9.59, a P/E/G ratio of 4.19 and a beta of 1.47. Helmerich & Payne, Inc. has a 12 month low of $32.17 and a 12 month high of $46.55. The stock’s 50 day simple moving average is $36.04 and its two-hundred day simple moving average is $38.15. The company has a current ratio of 2.12, a quick ratio of 1.87 and a debt-to-equity ratio of 0.19.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.15. The firm had revenue of $697.70 million for the quarter, compared to analyst estimates of $670.78 million. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.09 EPS. Analysts anticipate that Helmerich & Payne, Inc. will post 3.51 earnings per share for the current year.

Helmerich & Payne Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, August 16th. Helmerich & Payne’s dividend payout ratio is presently 28.57%.

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.