Vanguard Group Inc. Has $350.81 Million Stock Position in Helmerich & Payne, Inc. (NYSE:HP)

Vanguard Group Inc. trimmed its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,955,969 shares of the oil and gas company's stock after selling 211,812 shares during the period. Vanguard Group Inc. owned about 11.02% of Helmerich & Payne worth $350,810,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in HP. Kestra Investment Management LLC purchased a new position in shares of Helmerich & Payne in the fourth quarter worth approximately $27,000. Quarry LP purchased a new position in Helmerich & Payne during the 3rd quarter worth approximately $48,000. Steph & Co. acquired a new stake in Helmerich & Payne during the 4th quarter valued at $87,000. Smartleaf Asset Management LLC lifted its holdings in shares of Helmerich & Payne by 82.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,805 shares of the oil and gas company's stock valued at $88,000 after purchasing an additional 1,268 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Helmerich & Payne by 143.3% in the fourth quarter. Blue Trust Inc. now owns 3,703 shares of the oil and gas company's stock worth $113,000 after buying an additional 2,181 shares during the period. Institutional investors and hedge funds own 96.05% of the company's stock.

Helmerich & Payne Stock Down 6.1 %

Shares of NYSE:HP traded down $1.22 on Tuesday, reaching $18.84. The company had a trading volume of 2,269,971 shares, compared to its average volume of 1,482,903. The stock has a market capitalization of $1.87 billion, a P/E ratio of 6.20, a P/E/G ratio of 3.52 and a beta of 1.00. The stock has a 50-day moving average price of $26.05 and a 200 day moving average price of $31.13. Helmerich & Payne, Inc. has a twelve month low of $18.59 and a twelve month high of $43.68. The company has a quick ratio of 2.52, a current ratio of 2.81 and a debt-to-equity ratio of 0.60.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. On average, equities analysts expect that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.00 annualized dividend and a yield of 5.31%. Helmerich & Payne's dividend payout ratio (DPR) is presently 32.89%.

Insiders Place Their Bets

In related news, Director Belgacem Chariag acquired 37,356 shares of the company's stock in a transaction dated Monday, February 10th. The shares were bought at an average price of $27.08 per share, for a total transaction of $1,011,600.48. Following the acquisition, the director now owns 54,606 shares in the company, valued at $1,478,730.48. This trade represents a 216.56 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John W. Lindsay bought 20,000 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were purchased at an average cost of $27.55 per share, for a total transaction of $551,000.00. Following the completion of the transaction, the chief executive officer now owns 691,214 shares of the company's stock, 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. Company insiders own 4.51% of the company's stock.

Wall Street Analyst Weigh In

HP has been the topic of several recent analyst reports. Evercore ISI reissued an "in-line" rating and set a $39.00 price target (down from $48.00) on shares of Helmerich & Payne in a research report on Wednesday, January 15th. Morgan Stanley restated an "underweight" rating and set a $27.00 price target on shares of Helmerich & Payne in a report on Thursday, March 27th. Argus upgraded 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 report on Wednesday, February 19th. Finally, Royal Bank of Canada cut their price objective on Helmerich & Payne from $41.00 to $35.00 and set a "sector perform" rating for the company in a report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $35.22.

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.