Truist Financial Corp Reduces Stake in Helmerich & Payne, Inc. (NYSE:HP)

Truist Financial Corp lessened its position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 62.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,527 shares of the oil and gas company's stock after selling 17,765 shares during the quarter. Truist Financial Corp's holdings in Helmerich & Payne were worth $337,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HP. KBC Group NV grew its holdings in 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 period. Covestor Ltd grew its stake in Helmerich & Payne by 76.9% in the 3rd quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company's stock valued at $45,000 after acquiring an additional 643 shares during the period. Franklin Resources Inc. grew its stake in Helmerich & Payne by 0.4% in the 3rd quarter. Franklin Resources Inc. now owns 157,568 shares of the oil and gas company's stock valued at $4,793,000 after acquiring an additional 666 shares during the period. US Bancorp DE grew 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 purchasing an additional 1,099 shares during the period. Finally, Fulton Bank N.A. boosted its stake in shares of Helmerich & Payne by 11.6% in the fourth quarter. Fulton Bank N.A. now owns 11,321 shares of the oil and gas company's stock worth $362,000 after acquiring an additional 1,180 shares during the last quarter. Institutional investors and hedge funds own 96.05% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Argus raised shares of Helmerich & Payne to a "hold" rating in a research note on Tuesday, February 11th. Barclays lowered their price target on shares of Helmerich & Payne from $36.00 to $24.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 19th. Benchmark restated a "hold" rating on shares of Helmerich & Payne in a report on Thursday, November 21st. Royal Bank of Canada lowered their target price on Helmerich & Payne from $41.00 to $35.00 and set a "sector perform" rating on the stock in a report on Friday, February 7th. Finally, Evercore ISI restated an "in-line" rating and set a $39.00 target price (down from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Helmerich & Payne currently has an average rating of "Hold" and a consensus target price of $37.25.

Helmerich & Payne Trading Up 2.0 %

Shares of Helmerich & Payne stock traded up $0.51 during trading hours on Friday, hitting $25.59. The company's stock had a trading volume of 1,966,120 shares, compared to its average volume of 1,718,194. The firm has a fifty day moving average of $30.67 and a 200-day moving average of $32.39. Helmerich & Payne, Inc. has a twelve month low of $23.80 and a twelve month high of $44.11. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 8.42, a P/E/G ratio of 3.52 and a beta of 1.42.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, beating 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%. Research analysts forecast that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend was Friday, February 14th. Helmerich & Payne's dividend payout ratio (DPR) is 32.89%.

Insiders Place Their Bets

In other Helmerich & Payne news, Director Belgacem Chariag bought 37,356 shares of Helmerich & Payne stock in a transaction on Monday, February 10th. The shares were bought at an average cost of $27.08 per share, for a total transaction of $1,011,600.48. Following the acquisition, the director now directly owns 54,606 shares in the company, valued at $1,478,730.48. This represents a 216.56 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John W. Lindsay bought 20,000 shares of Helmerich & Payne stock in a transaction on Monday, February 10th. The shares were acquired at an average price of $27.55 per share, for a total transaction of $551,000.00. Following the completion of the acquisition, the chief executive officer now owns 691,214 shares in the company, valued at $19,042,945.70. This represents a 2.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.51% of the stock is owned by insiders.

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.