Truist Financial Corp Sells 16,413 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Truist Financial Corp lowered its stake in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 35.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,522 shares of the oil and gas company's stock after selling 16,413 shares during the period. Truist Financial Corp's holdings in Helmerich & Payne were worth $1,103,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its stake in shares of Helmerich & Payne by 2.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 979,230 shares of the oil and gas company's stock worth $35,468,000 after purchasing an additional 21,291 shares during the last quarter. Creekmur Asset Management LLC bought a new stake in Helmerich & Payne in the fourth quarter valued at $60,000. Wellington Management Group LLP increased its position in Helmerich & Payne by 11.9% during the 4th quarter. Wellington Management Group LLP now owns 1,004,518 shares of the oil and gas company's stock valued at $36,384,000 after purchasing an additional 106,491 shares during the period. Quadrature Capital Ltd bought a new position in Helmerich & Payne in the 4th quarter worth $1,317,000. Finally, GAMMA Investing LLC lifted its position in shares of Helmerich & Payne by 29.2% in the 1st quarter. GAMMA Investing LLC now owns 2,618 shares of the oil and gas company's stock worth $110,000 after purchasing an additional 592 shares during the period. Institutional investors own 96.05% of the company's stock.

Helmerich & Payne Stock Performance

Shares of NYSE HP traded down $0.44 during trading on Monday, reaching $35.99. 1,050,954 shares of the company traded hands, compared to its average volume of 1,384,940. The firm has a 50 day simple moving average of $32.76 and a 200-day simple moving average of $36.36. Helmerich & Payne, Inc. has a 52-week low of $29.46 and a 52-week high of $44.80. The stock has a market capitalization of $3.55 billion, a PE ratio of 10.41, a P/E/G ratio of 3.80 and a beta of 1.42. The company has a quick ratio of 1.87, a current ratio of 2.12 and a debt-to-equity ratio of 0.19.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.15. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The firm had revenue of $697.70 million for the quarter, compared to analysts' expectations of $670.78 million. During the same period in the prior year, the firm earned $1.09 EPS. The company's revenue was down 3.6% compared to the same quarter last year. Equities research analysts anticipate that Helmerich & Payne, Inc. will post 3.48 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.00 annualized dividend and a yield of 2.78%. Helmerich & Payne's payout ratio is presently 28.57%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on HP shares. Benchmark reissued a "hold" rating on shares of Helmerich & Payne in a research note on Monday, August 5th. Royal Bank of Canada lifted their price target on Helmerich & Payne from $48.00 to $50.00 and gave the company a "sector perform" rating in a research report on Friday, July 26th. Bank of America decreased their price objective on Helmerich & Payne from $42.50 to $40.00 and set a "buy" rating for the company in a 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 on the stock in a report on Thursday, August 29th. Finally, Evercore ISI upgraded shares of Helmerich & Payne to a "strong-buy" rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $40.88.

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.