Helmerich & Payne, Inc. (NYSE:HP) Stake Cut by Kennedy Capital Management LLC

Kennedy Capital Management LLC trimmed its position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 16.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 227,642 shares of the oil and gas company's stock after selling 46,317 shares during the quarter. Kennedy Capital Management LLC owned approximately 0.23% of Helmerich & Payne worth $7,289,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of HP. Kestra Investment Management LLC purchased a new stake in Helmerich & Payne during the fourth quarter valued at about $27,000. Steph & Co. acquired a new position in shares of Helmerich & Payne in the 4th quarter worth $87,000. Smartleaf Asset Management LLC lifted its position in shares of Helmerich & Payne by 82.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,805 shares of the oil and gas company's stock worth $88,000 after purchasing an additional 1,268 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Helmerich & Payne by 143.3% during the 4th quarter. Blue Trust Inc. now owns 3,703 shares of the oil and gas company's stock worth $113,000 after acquiring an additional 2,181 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in Helmerich & Payne during the fourth quarter worth $121,000. Institutional investors and hedge funds own 96.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group dropped their price target on shares of Helmerich & Payne from $32.00 to $25.00 and set a "sell" rating for the company in a research note on Thursday, April 10th. Morgan Stanley reiterated an "underweight" rating and set a $27.00 price target on shares of Helmerich & Payne in a report on Thursday, March 27th. Citigroup reduced their target price on Helmerich & Payne from $33.00 to $32.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Evercore ISI reaffirmed an "in-line" rating and issued a $39.00 target price (down previously from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Finally, Argus upgraded shares of Helmerich & Payne to a "hold" rating in a research note on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $31.78.

Helmerich & Payne Price Performance

Shares of Helmerich & Payne stock traded up $1.15 during midday trading on Thursday, reaching $20.80. The company had a trading volume of 651,025 shares, compared to its average volume of 1,514,475. Helmerich & Payne, Inc. has a 1-year low of $17.82 and a 1-year high of $42.68. The company has a current ratio of 2.81, a quick ratio of 2.52 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 6.81, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00. The stock has a fifty day simple moving average of $24.54 and a 200 day simple moving average of $30.58.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share 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 forecast that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.81%. Helmerich & Payne's dividend payout ratio (DPR) is currently 32.89%.

Insider Buying and Selling

In related news, CEO John W. Lindsay purchased 20,000 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were bought at an average price of $27.55 per share, for a total transaction of $551,000.00. Following the acquisition, the chief executive officer now owns 691,214 shares of the company's stock, valued at approximately $19,042,945.70. This represents a 2.98 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Belgacem Chariag acquired 37,356 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were acquired at an average cost of $27.08 per share, for a total transaction of $1,011,600.48. Following the completion of the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. 4.51% of the stock is currently owned by corporate insiders.

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.