Helmerich & Payne, Inc. (HP) Shares Sold by Front Barnett Associates LLC
Front Barnett Associates LLC lowered its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,068 shares of the oil and gas company’s stock after selling 2,950 shares during the period. Front Barnett Associates LLC owned approximately 0.11% of Helmerich & Payne worth $6,361,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of HP. Ameritas Investment Partners Inc. bought a new position in Helmerich & Payne during the first quarter worth approximately $172,000. Mn Services Vermogensbeheer B.V. increased its position in Helmerich & Payne by 4.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,885 shares of the oil and gas company’s stock worth $180,000 after buying an additional 116 shares in the last quarter. Marshall Wace North America L.P. bought a new position in Helmerich & Payne during the first quarter worth approximately $209,000. AlphaMark Advisors LLC increased its position in Helmerich & Payne by 3.1% in the second quarter. AlphaMark Advisors LLC now owns 3,326 shares of the oil and gas company’s stock worth $181,000 after buying an additional 101 shares in the last quarter. Finally, Meridian Wealth Management LLC bought a new position in Helmerich & Payne during the first quarter worth approximately $236,000.
Shares of Helmerich & Payne, Inc. (NYSE:HP) traded down 0.14% during midday trading on Thursday, reaching $42.59. The company’s stock had a trading volume of 337,942 shares. Helmerich & Payne, Inc. has a 52-week low of $42.37 and a 52-week high of $85.78. The company’s market capitalization is $4.62 billion. The stock has a 50 day moving average price of $49.93 and a 200-day moving average price of $58.82.
Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.05. The business had revenue of $498.60 million for the quarter, compared to the consensus estimate of $452.42 million. Helmerich & Payne had a negative return on equity of 3.37% and a negative net margin of 11.19%. The firm’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.20) earnings per share. Equities research analysts expect that Helmerich & Payne, Inc. will post ($1.32) EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 6.57%. The ex-dividend date of this dividend is Wednesday, August 16th. Helmerich & Payne’s dividend payout ratio is currently -167.66%.
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HP has been the subject of a number of research reports. Societe Generale initiated coverage on Helmerich & Payne in a report on Thursday. They set a “hold” rating and a $46.00 target price for the company. Cowen and Company reiterated a “hold” rating and set a $50.00 target price on shares of Helmerich & Payne in a report on Friday, August 11th. Royal Bank Of Canada set a $80.00 target price on Helmerich & Payne and gave the stock a “hold” rating in a report on Saturday, July 1st. UBS AG reiterated a “buy” rating and set a $60.00 target price (down previously from $84.00) on shares of Helmerich & Payne in a report on Monday, July 31st. Finally, Jefferies Group LLC set a $54.00 target price on Helmerich & Payne and gave the stock a “hold” rating in a report on Tuesday, June 6th. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $56.30.
Helmerich & Payne Company Profile
Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.
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