Van ECK Associates Corp cut its stake in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 19.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,192,410 shares of the oil and gas company's stock after selling 279,801 shares during the quarter. Van ECK Associates Corp owned about 1.21% of Helmerich & Payne worth $40,220,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Lmcg Investments LLC increased its holdings in Helmerich & Payne by 0.8% in the 3rd quarter. Lmcg Investments LLC now owns 120,599 shares of the oil and gas company's stock worth $3,669,000 after buying an additional 924 shares in the last quarter. CacheTech Inc. raised its position in shares of Helmerich & Payne by 5.4% during the 3rd quarter. CacheTech Inc. now owns 19,662 shares of the oil and gas company's stock valued at $598,000 after purchasing an additional 1,005 shares during the period. US Bancorp DE lifted its position in shares of Helmerich & Payne by 2.3% in the third quarter. US Bancorp DE now owns 49,240 shares of the oil and gas company's stock valued at $1,498,000 after acquiring an additional 1,099 shares in the last quarter. Pinnacle Associates Ltd. boosted its stake in Helmerich & Payne by 3.3% in the 3rd quarter. Pinnacle Associates Ltd. now owns 233,520 shares of the oil and gas company's stock worth $7,104,000 after purchasing an additional 7,515 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in Helmerich & Payne by 2.0% during the third quarter. Nisa Investment Advisors LLC now owns 96,420 shares of the oil and gas company's stock valued at $2,933,000 after acquiring an additional 1,901 shares in the last quarter. Hedge funds and other institutional investors own 96.05% of the company's stock.
Helmerich & Payne Price Performance
HP stock traded up $0.79 on Monday, reaching $33.72. 886,372 shares of the company's stock were exchanged, compared to its average volume of 1,369,178. The firm has a market cap of $3.33 billion, a PE ratio of 9.77, a P/E/G ratio of 3.56 and a beta of 1.40. Helmerich & Payne, Inc. has a twelve month low of $29.46 and a twelve month high of $44.11. The stock has a fifty day moving average of $32.83 and a 200-day moving average of $35.50. 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 Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 dividend yield of 2.97%. The ex-dividend date is Monday, November 18th. Helmerich & Payne's dividend payout ratio is currently 28.99%.
Analyst Ratings Changes
A number of equities research analysts have issued reports on HP shares. Benchmark restated a "hold" rating on shares of Helmerich & Payne in a research report on Monday, August 5th. Citigroup cut their price objective on shares of Helmerich & Payne from $41.00 to $33.00 and set a "neutral" rating on the stock in a report on Friday, September 13th. Bank of America decreased their target price on shares of Helmerich & Payne from $42.50 to $40.00 and set a "buy" rating for the company in a research report on Monday, July 15th. The Goldman Sachs Group dropped 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. Finally, Evercore ISI upgraded shares of Helmerich & Payne to a "strong-buy" rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $40.29.
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About Helmerich & Payne
(
Free Report)
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.
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