Royce & Associates LP Cuts Stock Position in Helmerich & Payne, Inc. (NYSE:HP)

Royce & Associates LP trimmed its stake in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 11.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 236,641 shares of the oil and gas company's stock after selling 29,939 shares during the quarter. Royce & Associates LP owned 0.24% of Helmerich & Payne worth $7,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in HP. Arizona State Retirement System raised its position in Helmerich & Payne by 1.3% during the second quarter. Arizona State Retirement System now owns 27,667 shares of the oil and gas company's stock valued at $1,000,000 after acquiring an additional 342 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Helmerich & Payne by 2.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 22,002 shares of the oil and gas company's stock valued at $795,000 after acquiring an additional 513 shares during the period. KBC Group NV grew its position in shares of 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 last quarter. Covestor Ltd increased its stake in shares of Helmerich & Payne by 76.9% in the third quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company's stock worth $45,000 after purchasing an additional 643 shares during the period. Finally, Headlands Technologies LLC lifted its position in shares of Helmerich & Payne by 96.9% during the 2nd quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company's stock worth $56,000 after purchasing an additional 757 shares during the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HP has been the topic of a number of research reports. Evercore ISI raised shares of Helmerich & Payne to a "strong-buy" rating in a research report on Friday, July 26th. Royal Bank of Canada cut their price objective on shares of Helmerich & Payne from $44.00 to $41.00 and set a "sector perform" rating for the company in a research report on Friday. Barclays lowered their price target on Helmerich & Payne from $42.00 to $39.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 16th. Benchmark restated a "hold" rating on shares of Helmerich & Payne in a research report on Monday, August 5th. Finally, The Goldman Sachs Group lowered their price target 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $39.00.

Helmerich & Payne Price Performance

Shares of Helmerich & Payne stock traded down $0.21 during mid-day trading on Monday, reaching $33.64. 1,323,658 shares of the stock were exchanged, compared to its average volume of 1,386,097. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 9.84, a price-to-earnings-growth ratio of 3.59 and a beta of 1.40. Helmerich & Payne, Inc. has a fifty-two week low of $29.46 and a fifty-two week high of $44.11. The company has a current ratio of 2.67, a quick ratio of 1.87 and a debt-to-equity ratio of 0.61. The firm has a 50-day simple moving average of $33.48 and a 200 day simple moving average of $35.12.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its quarterly earnings results on Wednesday, November 13th. The oil and gas company reported $0.76 EPS for the quarter, meeting analysts' consensus estimates of $0.76. Helmerich & Payne had a return on equity of 12.44% and a net margin of 12.48%. The business had revenue of $693.79 million during the quarter, compared to the consensus estimate of $695.99 million. During the same quarter in the previous year, the firm earned $0.69 earnings per share. Helmerich & Payne's revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts predict that Helmerich & Payne, Inc. will post 3.57 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Monday, November 18th. Helmerich & Payne's payout ratio is currently 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.