Helmerich & Payne, Inc. (NYSE:HP) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp cut its holdings in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 30.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,265 shares of the oil and gas company's stock after selling 13,238 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Helmerich & Payne were worth $969,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in HP. Segall Bryant & Hamill LLC raised its stake in shares of Helmerich & Payne by 16.1% in the fourth quarter. Segall Bryant & Hamill LLC now owns 671,886 shares of the oil and gas company's stock worth $21,514,000 after purchasing an additional 93,315 shares during the last quarter. Napatree Capital LLC boosted its position in Helmerich & Payne by 2.5% during the fourth quarter. Napatree Capital LLC now owns 20,847 shares of the oil and gas company's stock worth $668,000 after purchasing an additional 511 shares in the last quarter. LPL Financial LLC lifted its position in shares of Helmerich & Payne by 1.9% during the 4th quarter. LPL Financial LLC now owns 21,763 shares of the oil and gas company's stock valued at $697,000 after buying an additional 408 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Helmerich & Payne during the fourth quarter valued at $644,000. Finally, Sei Investments Co. increased its position in shares of Helmerich & Payne by 4.3% during the fourth quarter. Sei Investments Co. now owns 33,116 shares of the oil and gas company's stock worth $1,060,000 after purchasing an additional 1,357 shares in the last quarter. Institutional investors and hedge funds own 96.05% of the company's stock.

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Insiders Place Their Bets

In other news, Director Belgacem Chariag bought 37,356 shares of the business's stock in a transaction dated Monday, February 10th. The shares were acquired 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 approximately $1,478,730.48. This trade represents a 216.56 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John W. Lindsay acquired 20,000 shares of the business's stock in a transaction on 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 transaction, the chief executive officer now owns 691,214 shares in the company, valued at $19,042,945.70. The trade was a 2.98 % increase in their position. The disclosure for this purchase can be found here. 4.51% of the stock is owned by company insiders.

Helmerich & Payne Stock Down 15.4 %

HP stock traded down $4.13 during midday trading on Thursday, hitting $22.66. The company's stock had a trading volume of 2,417,748 shares, compared to its average volume of 1,462,446. Helmerich & Payne, Inc. has a 52-week low of $22.57 and a 52-week high of $44.11. The firm has a 50-day simple moving average of $27.19 and a 200-day simple moving average of $31.48. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $2.25 billion, a P/E ratio of 7.45, a PEG ratio of 3.52 and a beta of 1.43.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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, equities analysts forecast that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on HP shares. Barclays lowered their target price on shares of Helmerich & Payne from $36.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 19th. Citigroup upgraded shares of Helmerich & Payne from a "neutral" rating to a "buy" rating and increased their price objective for the company from $33.00 to $40.00 in a report on Friday, January 10th. Royal Bank of Canada cut their target price on Helmerich & Payne from $41.00 to $35.00 and set a "sector perform" rating for the company in a research note on Friday, February 7th. Evercore ISI restated an "in-line" rating and set a $39.00 price objective (down from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Finally, Argus raised shares of Helmerich & Payne to a "hold" rating in a research note on Tuesday, February 11th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Helmerich & Payne presently 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.