Truist Financial Corp Reduces Stock Position in Helmerich & Payne, Inc. (NYSE:HP)

Truist Financial Corp trimmed its position in Helmerich & Payne, Inc. (NYSE:HP) by 35.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,522 shares of the oil and gas company’s stock after selling 16,413 shares during the period. Truist Financial Corp’s holdings in Helmerich & Payne were worth $1,103,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of HP. Headlands Technologies LLC purchased a new stake in Helmerich & Payne in the 1st quarter valued at about $33,000. Hexagon Capital Partners LLC grew its holdings in Helmerich & Payne by 514.4% in the first quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 787 shares during the period. Covestor Ltd increased its position 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. Whittier Trust Co. raised its stake in Helmerich & Payne by 94.9% during the first quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 595 shares during the period. Finally, Creekmur Asset Management LLC acquired a new position in shares of Helmerich & Payne in the 4th quarter valued at $60,000. 96.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on HP shares. The Goldman Sachs Group dropped their price objective on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a report on Thursday, August 29th. Bank of America reduced their price objective on Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Citigroup dropped their target price on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. Evercore ISI raised shares of Helmerich & Payne to a “strong-buy” rating in a research report on Friday, July 26th. Finally, Piper Sandler decreased their price target on shares of Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Helmerich & Payne currently has an average rating of “Hold” and an average price target of $40.88.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $36.43 on Monday. Helmerich & Payne, Inc. has a 12-month low of $29.46 and a 12-month high of $44.80. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.12 and a quick ratio of 1.87. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 3.80 and a beta of 1.42. The business has a 50 day simple moving average of $32.76 and a 200 day simple moving average of $36.36.

Helmerich & Payne (NYSE:HP) last posted 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 business had revenue of $697.70 million during 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 company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.09 earnings per share. On average, equities research analysts anticipate that Helmerich & Payne, Inc. will post 3.48 EPS for the current year.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Monday, November 18th. 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.