Helmerich & Payne, Inc. (NYSE:HP) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its position in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 61.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,362 shares of the oil and gas company's stock after selling 16,389 shares during the period. Teacher Retirement System of Texas' holdings in Helmerich & Payne were worth $332,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of HP. Franklin Resources Inc. grew its position in shares of 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 acquiring an additional 666 shares during the period. Kestra Investment Management LLC purchased a new position in Helmerich & Payne during the fourth quarter worth approximately $27,000. Natixis Advisors LLC grew its holdings in Helmerich & Payne by 4.1% in the fourth quarter. Natixis Advisors LLC now owns 22,239 shares of the oil and gas company's stock valued at $712,000 after purchasing an additional 870 shares during the period. Atria Investments Inc increased its position in shares of Helmerich & Payne by 8.8% in the fourth quarter. Atria Investments Inc now owns 11,840 shares of the oil and gas company's stock valued at $379,000 after buying an additional 953 shares in the last quarter. Finally, Fulton Bank N.A. raised its stake in shares of Helmerich & Payne by 11.6% during the 4th quarter. Fulton Bank N.A. now owns 11,321 shares of the oil and gas company's stock worth $362,000 after buying an additional 1,180 shares during the period. Institutional investors and hedge funds own 96.05% of the company's stock.

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Insider Activity

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

Helmerich & Payne Trading Down 15.4 %

Shares of HP stock traded down $4.13 on Thursday, hitting $22.66. 2,417,748 shares of the stock traded hands, compared to its average volume of 1,462,446. Helmerich & Payne, Inc. has a twelve month low of $22.57 and a twelve month high of $44.11. The stock has a market capitalization of $2.25 billion, a PE ratio of 7.45, a PEG ratio of 3.52 and a beta of 1.43. The firm's 50-day moving average price is $27.19 and its two-hundred day moving average price is $31.48. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81.

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

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.41%. The ex-dividend date of this dividend is Thursday, May 15th. Helmerich & Payne's dividend payout ratio (DPR) is presently 32.89%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HP. Citigroup raised shares of Helmerich & Payne from a "neutral" rating to a "buy" rating and lifted their price target for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Evercore ISI restated an "in-line" rating and set a $39.00 price target (down previously from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Royal Bank of Canada decreased their price target on shares of Helmerich & Payne from $41.00 to $35.00 and set a "sector perform" rating on the stock in a research note on Friday, February 7th. Barclays reduced their target price 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. Finally, Morgan Stanley reaffirmed an "underweight" rating and issued a $27.00 price target on shares of Helmerich & Payne in a research note on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Helmerich & Payne has a consensus rating of "Hold" and an average price target of $36.11.

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.