Massachusetts Financial Services Co. MA Decreases Stock Holdings in Helmerich & Payne, Inc. (NYSE:HP)

Massachusetts Financial Services Co. MA reduced its stake in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 41.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 546,232 shares of the oil and gas company's stock after selling 381,034 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.55% of Helmerich & Payne worth $16,616,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Covestor Ltd raised its holdings in shares of Helmerich & Payne by 76.9% in 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 during the period. Blue Trust Inc. grew its stake in shares of Helmerich & Payne by 127.8% in the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company's stock worth $46,000 after acquiring an additional 854 shares in the last quarter. Headlands Technologies LLC increased its position in shares of Helmerich & Payne by 96.9% during the second quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company's stock worth $56,000 after acquiring an additional 757 shares during the period. Eastern Bank acquired a new stake in shares of Helmerich & Payne in the third quarter valued at $61,000. Finally, KBC Group NV boosted its holdings in Helmerich & Payne by 20.3% in the third quarter. KBC Group NV now owns 3,130 shares of the oil and gas company's stock valued at $95,000 after purchasing an additional 529 shares during the period. Institutional investors and hedge funds own 96.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group reduced their price objective on shares of Helmerich & Payne from $38.00 to $34.00 and set a "sell" rating on the stock in a report on Thursday, August 29th. Barclays decreased their price target on Helmerich & Payne from $39.00 to $36.00 and set an "equal weight" rating for the company in a report on Wednesday, November 20th. Royal Bank of Canada cut their target price on Helmerich & Payne from $44.00 to $41.00 and set a "sector perform" rating on the stock in a research report on Friday, November 15th. Benchmark reaffirmed a "hold" rating on shares of Helmerich & Payne in a report on Thursday, November 21st. Finally, Citigroup decreased their price objective on Helmerich & Payne from $41.00 to $33.00 and set a "neutral" rating for the company in a research report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Helmerich & Payne has a consensus rating of "Hold" and a consensus price target of $38.57.

Helmerich & Payne Trading Down 2.5 %

Shares of NYSE HP traded down $0.87 during midday trading on Tuesday, reaching $34.40. 1,285,411 shares of the stock were exchanged, compared to its average volume of 1,386,560. The stock has a 50 day moving average price of $33.95 and a 200-day moving average price of $34.95. The company has a current ratio of 2.67, a quick ratio of 2.40 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $3.40 billion, a P/E ratio of 10.00, a P/E/G ratio of 4.29 and a beta of 1.40. 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 issued its quarterly earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 earnings per share for the quarter, hitting analysts' consensus estimates of $0.76. The company had revenue of $693.79 million for the quarter, compared to analyst estimates of $695.99 million. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. The business's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 EPS. Equities research analysts expect that Helmerich & Payne, Inc. will post 3.21 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $0.25 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.91%. Helmerich & Payne's dividend payout ratio (DPR) is presently 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.