Fisher Asset Management LLC Sells 278,484 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Fisher Asset Management LLC reduced its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 17.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,317,270 shares of the oil and gas company’s stock after selling 278,484 shares during the period. Fisher Asset Management LLC owned 1.33% of Helmerich & Payne worth $47,712,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in shares of Helmerich & Payne by 13,372.8% during the 3rd quarter. Victory Capital Management Inc. now owns 2,418,364 shares of the oil and gas company’s stock valued at $101,958,000 after purchasing an additional 2,400,414 shares during the last quarter. Pacer Advisors Inc. raised its position in Helmerich & Payne by 130.8% in the fourth quarter. Pacer Advisors Inc. now owns 2,720,464 shares of the oil and gas company’s stock worth $98,535,000 after acquiring an additional 1,541,987 shares during the period. Wellington Management Group LLP boosted its stake in Helmerich & Payne by 38.6% in the third quarter. Wellington Management Group LLP now owns 898,027 shares of the oil and gas company’s stock valued at $37,861,000 after acquiring an additional 250,130 shares during the last quarter. American Century Companies Inc. grew its position in shares of Helmerich & Payne by 78.1% during the 3rd quarter. American Century Companies Inc. now owns 509,006 shares of the oil and gas company’s stock valued at $21,460,000 after acquiring an additional 223,171 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of Helmerich & Payne by 98.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 419,766 shares of the oil and gas company’s stock worth $17,697,000 after purchasing an additional 208,447 shares during the last quarter. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Helmerich & Payne Stock Performance

NYSE:HP opened at $38.47 on Friday. Helmerich & Payne, Inc. has a 1-year low of $30.41 and a 1-year high of $46.55. The business has a 50 day moving average of $40.77 and a 200 day moving average of $38.59. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.16 and a quick ratio of 1.92. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.82 and a beta of 1.51.

Helmerich & Payne (NYSE:HP) last posted 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 company had revenue of $687.94 million for the quarter, compared to analysts’ expectations of $682.51 million. During the same period in the previous year, the firm earned $1.26 earnings per share. The firm’s quarterly revenue was down 10.6% on a year-over-year basis. On average, sell-side analysts predict that Helmerich & Payne, Inc. will post 3.57 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend is Thursday, May 16th. Helmerich & Payne’s dividend payout ratio is currently 28.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on HP shares. Piper Sandler boosted their price objective on Helmerich & Payne from $41.00 to $44.00 and gave the company a “neutral” rating in a research note on Tuesday, February 20th. Citigroup increased their target price on Helmerich & Payne from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Royal Bank of Canada lifted their price target on Helmerich & Payne from $46.00 to $48.00 and gave the company a “sector perform” rating in a research report on Wednesday, January 31st. Barclays cut Helmerich & Payne from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $44.00 to $40.00 in a report on Wednesday, January 10th. Finally, Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $42.63.

Insider Activity at Helmerich & Payne

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

Helmerich & Payne 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.