Helmerich & Payne, Inc. (NYSE:HP) Position Cut by New York State Teachers Retirement System

New York State Teachers Retirement System cut its holdings in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 10.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,023 shares of the oil and gas company's stock after selling 13,893 shares during the period. New York State Teachers Retirement System owned about 0.12% of Helmerich & Payne worth $3,742,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in HP. Headlands Technologies LLC purchased a new position in Helmerich & Payne in the 1st quarter valued at about $33,000. Covestor Ltd increased its stake in shares of Helmerich & Payne by 253.4% during the 1st quarter. Covestor Ltd now owns 940 shares of the oil and gas company's stock valued at $40,000 after acquiring an additional 674 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Helmerich & Payne by 127.8% during the 3rd quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company's stock valued at $46,000 after acquiring an additional 854 shares during the last quarter. Whittier Trust Co. increased its stake in shares of Helmerich & Payne by 94.9% during the 1st quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company's stock valued at $51,000 after acquiring an additional 595 shares during the last quarter. Finally, Eastern Bank acquired a new position in shares of Helmerich & Payne during the 3rd quarter valued at about $61,000. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HP has been the subject of a number of research analyst reports. Barclays dropped their price objective on shares of Helmerich & Payne from $42.00 to $39.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 16th. Piper Sandler dropped their target price on shares of Helmerich & Payne from $39.00 to $36.00 and set a "neutral" rating for the company in a research report on Monday, July 15th. The Goldman Sachs Group dropped their target price on shares of Helmerich & Payne from $38.00 to $34.00 and set a "sell" rating for the company in a research report on Thursday, August 29th. Benchmark reissued a "hold" rating on shares of Helmerich & Payne in a research report on Monday, August 5th. Finally, Royal Bank of Canada increased their target price on shares of Helmerich & Payne from $48.00 to $50.00 and gave the stock a "sector perform" rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Helmerich & Payne presently has an average rating of "Hold" and a consensus price target of $40.29.

Helmerich & Payne Stock Performance

HP traded down $0.64 during trading hours on Thursday, hitting $36.11. 1,289,864 shares of the stock were exchanged, compared to its average volume of 1,372,386. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 3.58 and a beta of 1.40. The stock has a 50-day simple moving average of $32.94 and a 200-day simple moving average of $35.40. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.12 and a quick ratio of 1.87. Helmerich & Payne, Inc. has a 12 month low of $29.46 and a 12 month high of $44.11.

Helmerich & Payne Dividend Announcement

The firm also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Monday, November 18th. Helmerich & Payne's dividend payout ratio is presently 28.99%.

Helmerich & Payne 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.