Amalgamated Bank Sells 1,221 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Amalgamated Bank trimmed its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 3.9% during the second quarter, HoldingsChannel reports. The fund owned 30,119 shares of the oil and gas company’s stock after selling 1,221 shares during the quarter. Amalgamated Bank’s holdings in Helmerich & Payne were worth $1,089,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HP. UBS Group AG increased its stake in shares of Helmerich & Payne by 84.9% in the fourth quarter. UBS Group AG now owns 207,557 shares of the oil and gas company’s stock valued at $7,518,000 after buying an additional 95,330 shares during the period. Corient Private Wealth LLC increased its position in Helmerich & Payne by 27.3% during the 4th quarter. Corient Private Wealth LLC now owns 19,015 shares of the oil and gas company’s stock valued at $689,000 after purchasing an additional 4,075 shares during the period. Franklin Resources Inc. raised its holdings in Helmerich & Payne by 0.9% during the 4th quarter. Franklin Resources Inc. now owns 157,710 shares of the oil and gas company’s stock worth $5,712,000 after purchasing an additional 1,440 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of Helmerich & Payne by 39.3% in the 4th quarter. Hsbc Holdings PLC now owns 89,944 shares of the oil and gas company’s stock worth $3,235,000 after purchasing an additional 25,360 shares during the period. Finally, Olympiad Research LP boosted its stake in shares of Helmerich & Payne by 14.4% in the 4th quarter. Olympiad Research LP now owns 8,256 shares of the oil and gas company’s stock valued at $299,000 after purchasing an additional 1,042 shares during the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Helmerich & Payne Price Performance

Shares of NYSE:HP opened at $29.63 on Friday. Helmerich & Payne, Inc. has a twelve month low of $29.46 and a twelve month high of $45.04. The stock’s 50 day moving average is $33.93 and its 200-day moving average is $36.99. The company has a quick ratio of 1.87, a current ratio of 2.12 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 8.47, a PEG ratio of 3.62 and a beta of 1.42.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data 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 firm had revenue of $697.70 million for the quarter, compared to the consensus estimate of $670.78 million. Helmerich & Payne had a net margin of 12.72% and a return on equity of 12.39%. The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.09 earnings per share. Sell-side analysts forecast that Helmerich & Payne, Inc. will post 3.48 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 3.37%. Helmerich & Payne’s payout ratio is 28.57%.

Wall Street Analyst Weigh In

A number of 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 lifted their price objective 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 cut their target price on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research report on Thursday, August 29th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a report on Monday, August 5th. Finally, Citigroup dropped their price target on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $40.88.

About Helmerich & Payne

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.