Helmerich & Payne, Inc. (NYSE:HP) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp reduced its position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 31.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,570 shares of the oil and gas company's stock after selling 9,353 shares during the period. Fifth Third Bancorp's holdings in Helmerich & Payne were worth $659,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Covestor Ltd grew its holdings in shares of Helmerich & Payne by 76.9% during the 3rd quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company's stock worth $45,000 after purchasing an additional 643 shares during the period. Blue Trust Inc. boosted its stake in Helmerich & Payne by 127.8% during the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company's stock worth $46,000 after buying an additional 854 shares during the period. Quarry LP acquired a new stake in shares of Helmerich & Payne during the third quarter valued at about $48,000. Eastern Bank acquired a new stake in shares of Helmerich & Payne during the third quarter valued at about $61,000. Finally, Steph & Co. purchased a new stake in shares of Helmerich & Payne in the 4th quarter valued at approximately $87,000. 96.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Evercore ISI reiterated an "in-line" rating and issued a $39.00 target price (down previously from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. Barclays cut their target price on shares of Helmerich & Payne from $39.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Wednesday, November 20th. Royal Bank of Canada cut their price target on Helmerich & Payne from $44.00 to $41.00 and set a "sector perform" rating on the stock in a research note on Friday, November 15th. Citigroup upgraded shares of Helmerich & Payne from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $33.00 to $40.00 in a research report on Friday, January 10th. Finally, Benchmark reissued a "hold" rating on shares of Helmerich & Payne in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $39.50.

Helmerich & Payne Stock Performance

Shares of HP stock traded down $0.87 during midday trading on Thursday, hitting $31.88. The company had a trading volume of 787,726 shares, compared to its average volume of 1,086,935. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.67 and a quick ratio of 2.40. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 4.45 and a beta of 1.39. The company's 50 day simple moving average is $33.71 and its 200 day simple moving average is $34.12. Helmerich & Payne, Inc. has a 52-week low of $29.46 and a 52-week high of $44.11.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its quarterly earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share for the quarter, meeting analysts' consensus estimates of $0.76. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. The firm had revenue of $693.79 million for the quarter, compared to the consensus estimate of $695.99 million. During the same period in the previous year, the business earned $0.69 earnings per share. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts anticipate that Helmerich & Payne, Inc. will post 3.06 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date is Friday, February 14th. Helmerich & Payne's payout ratio is 29.07%.

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.