Victory Capital Management Inc. Sells 88,644 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Victory Capital Management Inc. lowered its position in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 2.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,979,100 shares of the oil and gas company's stock after selling 88,644 shares during the quarter. Victory Capital Management Inc. owned 3.02% of Helmerich & Payne worth $90,624,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in shares of Helmerich & Payne during the first quarter worth approximately $33,000. Covestor Ltd lifted its stake in Helmerich & Payne by 253.4% during the first quarter. Covestor Ltd now owns 940 shares of the oil and gas company's stock worth $40,000 after purchasing an additional 674 shares during the period. Blue Trust Inc. grew its position in Helmerich & Payne by 127.8% in the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company's stock valued at $46,000 after acquiring an additional 854 shares during the period. Eastern Bank acquired a new stake in shares of Helmerich & Payne during the 3rd quarter worth about $61,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Helmerich & Payne during the first quarter worth about $102,000. 96.05% of the stock is currently owned by institutional investors.

Helmerich & Payne Stock Down 6.2 %

Shares of HP traded down $2.26 during trading hours on Thursday, hitting $33.94. The stock had a trading volume of 3,331,358 shares, compared to its average volume of 1,383,451. Helmerich & Payne, Inc. has a 1-year low of $29.46 and a 1-year high of $44.11. The firm has a 50 day simple moving average of $33.34 and a 200-day simple moving average of $35.23. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.12 and a quick ratio of 1.87. The firm has a market capitalization of $3.35 billion, a P/E ratio of 9.73, a price-to-earnings-growth ratio of 3.83 and a beta of 1.40.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.00 dividend on an annualized basis and a yield of 2.95%. Helmerich & Payne's dividend payout ratio is currently 28.99%.

Analyst Ratings Changes

Several analysts have recently commented on HP shares. Benchmark reissued a "hold" rating on shares of Helmerich & Payne in a research note on Monday, August 5th. Citigroup decreased their price objective on Helmerich & Payne from $41.00 to $33.00 and set a "neutral" rating for the company in a report on Friday, September 13th. The Goldman Sachs Group decreased their price objective on shares of Helmerich & Payne from $38.00 to $34.00 and set a "sell" rating for the company in a research report on Thursday, August 29th. Royal Bank of Canada raised their target price on shares of Helmerich & Payne from $48.00 to $50.00 and gave the stock a "sector perform" rating in a research note on Friday, July 26th. Finally, Evercore ISI raised shares of Helmerich & Payne to a "strong-buy" rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $40.29.

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.