Helmerich & Payne, Inc. (NYSE:HP) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 11.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,902 shares of the oil and gas company’s stock after selling 2,913 shares during the period. PNC Financial Services Group Inc.’s holdings in Helmerich & Payne were worth $793,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in shares of Helmerich & Payne by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,181,316 shares of the oil and gas company’s stock worth $187,668,000 after buying an additional 19,622 shares during the last quarter. Earnest Partners LLC increased its holdings in shares of Helmerich & Payne by 4.0% during the 3rd quarter. Earnest Partners LLC now owns 2,929,498 shares of the oil and gas company’s stock worth $123,508,000 after buying an additional 113,735 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Helmerich & Payne by 130.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,720,464 shares of the oil and gas company’s stock worth $98,535,000 after buying an additional 1,541,987 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Helmerich & Payne by 8.7% during the 4th quarter. Victory Capital Management Inc. now owns 2,628,685 shares of the oil and gas company’s stock worth $95,211,000 after buying an additional 210,321 shares during the last quarter. Finally, Boston Trust Walden Corp boosted its position in shares of Helmerich & Payne by 1.6% during the 4th quarter. Boston Trust Walden Corp now owns 2,214,742 shares of the oil and gas company’s stock worth $80,218,000 after purchasing an additional 34,863 shares during the period. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Price Performance

Shares of HP opened at $34.73 on Tuesday. Helmerich & Payne, Inc. has a twelve month low of $32.17 and a twelve month high of $46.55. The firm’s fifty day simple moving average is $37.61 and its 200-day simple moving average is $38.01. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 3.73 and a beta of 1.47. The company has a current ratio of 2.16, a quick ratio of 1.92 and a debt-to-equity ratio of 0.19.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01). Helmerich & Payne had a net margin of 12.84% and a return on equity of 13.21%. The firm had revenue of $687.94 million during the quarter, compared to analyst estimates of $682.51 million. During the same quarter in the previous year, the business posted $1.26 earnings per share. Helmerich & Payne’s revenue for the quarter was down 10.6% compared to the same quarter last year. Equities analysts forecast that Helmerich & Payne, Inc. will post 3.46 EPS for the current fiscal year.

Helmerich & Payne Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, August 16th. This represents a $1.00 annualized dividend and a yield of 2.88%. Helmerich & Payne’s dividend payout ratio is currently 28.57%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Citigroup increased their price objective on shares of Helmerich & Payne from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Susquehanna lowered their price objective 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. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, April 25th. Finally, Piper Sandler decreased their price target on shares of Helmerich & Payne from $44.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Helmerich & Payne has an average rating of “Hold” and a consensus price target of $42.00.

Insider Buying and Selling

In related news, SVP Cara M. Hair sold 9,910 shares of Helmerich & Payne stock in a transaction on Monday, April 29th. The shares were sold at an average price of $40.22, for a total transaction of $398,580.20. Following the sale, the senior vice president now directly owns 137,764 shares in the company, valued at approximately $5,540,868.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Cara M. Hair sold 9,910 shares of Helmerich & Payne stock in a transaction on Monday, April 29th. The shares were sold at an average price of $40.22, for a total transaction of $398,580.20. Following the sale, the senior vice president now directly owns 137,764 shares in the company, valued at approximately $5,540,868.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark W. Smith sold 16,000 shares of Helmerich & Payne stock in a transaction on Monday, April 29th. The stock was sold at an average price of $40.49, for a total transaction of $647,840.00. Following the sale, the chief financial officer now owns 144,870 shares in the company, valued at $5,865,786.30. The disclosure for this sale can be found here. 4.38% of the stock is owned by company insiders.

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.