Bank of New York Mellon Corp Purchases 77,099 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Bank of New York Mellon Corp raised its stake in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 7.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,121,742 shares of the oil and gas company's stock after acquiring an additional 77,099 shares during the period. Bank of New York Mellon Corp owned about 1.11% of Helmerich & Payne worth $35,918,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. KBC Group NV raised its stake in Helmerich & Payne by 20.3% in the 3rd quarter. KBC Group NV now owns 3,130 shares of the oil and gas company's stock valued at $95,000 after acquiring an additional 529 shares during the period. Covestor Ltd grew its holdings in Helmerich & Payne by 76.9% during the 3rd quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company's stock valued at $45,000 after buying an additional 643 shares in the last quarter. Franklin Resources Inc. grew its holdings in Helmerich & Payne by 0.4% during the 3rd quarter. Franklin Resources Inc. now owns 157,568 shares of the oil and gas company's stock valued at $4,793,000 after buying an additional 666 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Helmerich & Payne during the 4th quarter valued at about $27,000. Finally, US Bancorp DE grew its holdings in Helmerich & Payne by 2.3% during the 3rd quarter. US Bancorp DE now owns 49,240 shares of the oil and gas company's stock valued at $1,498,000 after buying an additional 1,099 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

A number of research firms have weighed in on HP. Royal Bank of Canada reduced their target price on Helmerich & Payne from $41.00 to $35.00 and set a "sector perform" rating for the company in a report on Friday, February 7th. Argus raised Helmerich & Payne to a "hold" rating in a report on Tuesday, February 11th. Evercore ISI reissued an "in-line" rating and set a $39.00 price objective (down previously from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. Benchmark reissued a "hold" rating on shares of Helmerich & Payne in a report on Thursday, November 21st. Finally, Barclays cut their price objective on Helmerich & Payne from $36.00 to $24.00 and set an "equal weight" rating for the company in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $37.25.

Helmerich & Payne Trading Up 2.0 %

HP stock traded up $0.51 during midday trading on Friday, hitting $25.59. The company had a trading volume of 1,966,120 shares, compared to its average volume of 1,718,194. The company has a current ratio of 2.81, a quick ratio of 2.52 and a debt-to-equity ratio of 0.60. Helmerich & Payne, Inc. has a 52 week low of $23.80 and a 52 week high of $44.11. The stock's 50 day moving average price is $30.57 and its 200 day moving average price is $32.33. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 8.42, a PEG ratio of 3.52 and a beta of 1.42.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. As a group, equities research analysts expect that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.25 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.91%. Helmerich & Payne's dividend payout ratio is currently 32.89%.

Insider Transactions at Helmerich & Payne

In other Helmerich & Payne news, Director Belgacem Chariag bought 37,356 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average price of $27.08 per share, for a total transaction of $1,011,600.48. Following the completion of the transaction, the director now owns 54,606 shares of the company's stock, valued at $1,478,730.48. This trade represents a 216.56 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John W. Lindsay bought 20,000 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were acquired at an average price of $27.55 per share, with a total value of $551,000.00. Following the transaction, the chief executive officer now directly owns 691,214 shares of the company's stock, valued at $19,042,945.70. This represents a 2.98 % increase in their position. The disclosure for this purchase can be found here. Insiders own 4.51% of the company's stock.

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.