Victory Capital Management Inc. Sells 1,047,808 Shares of Helmerich & Payne, Inc. $HP

Victory Capital Management Inc. trimmed its stake in Helmerich & Payne, Inc. (NYSE:HP) by 28.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,638,885 shares of the oil and gas company’s stock after selling 1,047,808 shares during the period. Victory Capital Management Inc.’s holdings in Helmerich & Payne were worth $58,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in HP. New York State Teachers Retirement System lifted its stake in shares of Helmerich & Payne by 0.4% in the third quarter. New York State Teachers Retirement System now owns 99,710 shares of the oil and gas company’s stock valued at $2,203,000 after buying an additional 400 shares during the period. Arizona State Retirement System increased its stake in Helmerich & Payne by 1.4% during the third quarter. Arizona State Retirement System now owns 29,418 shares of the oil and gas company’s stock valued at $650,000 after acquiring an additional 416 shares during the period. Smartleaf Asset Management LLC raised its holdings in Helmerich & Payne by 21.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,487 shares of the oil and gas company’s stock valued at $55,000 after acquiring an additional 437 shares in the last quarter. Amalgamated Bank raised its holdings in Helmerich & Payne by 1.7% in the 3rd quarter. Amalgamated Bank now owns 28,813 shares of the oil and gas company’s stock valued at $636,000 after acquiring an additional 475 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of Helmerich & Payne by 46.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 1,745 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 554 shares during the period. Institutional investors own 96.05% of the company’s stock.

Insider Activity

In other news, Director Hans Helmerich sold 75,000 shares of Helmerich & Payne stock in a transaction on Friday, December 19th. The stock was sold at an average price of $28.12, for a total value of $2,109,000.00. Following the transaction, the director owned 496,735 shares in the company, valued at approximately $13,968,188.20. This trade represents a 13.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.40% of the company’s stock.

Helmerich & Payne Stock Down 0.4%

HP stock opened at $34.00 on Friday. Helmerich & Payne, Inc. has a 1-year low of $14.65 and a 1-year high of $36.73. The business’s 50 day simple moving average is $33.05 and its 200 day simple moving average is $27.49. The company has a current ratio of 2.03, a quick ratio of 1.58 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $3.39 billion, a PE ratio of -10.66 and a beta of 0.54.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.27). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $990.16 million. Helmerich & Payne had a negative net margin of 7.71% and a positive return on equity of 0.28%. The company’s revenue for the quarter was up 50.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 EPS. As a group, research analysts anticipate that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, May 18th. Helmerich & Payne’s dividend payout ratio (DPR) is currently -31.35%.

Analyst Upgrades and Downgrades

HP has been the subject of several research reports. Evercore set a $37.00 target price on Helmerich & Payne in a research report on Friday, February 6th. Barclays raised their price objective on shares of Helmerich & Payne from $36.00 to $39.00 and gave the company an “overweight” rating in a research report on Tuesday, February 10th. JPMorgan Chase & Co. raised shares of Helmerich & Payne from a “neutral” rating to an “overweight” rating and increased their price target for the company from $24.00 to $34.00 in a research note on Wednesday, December 10th. Morgan Stanley restated an “underweight” rating and issued a $28.00 price objective on shares of Helmerich & Payne in a research report on Wednesday, January 21st. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Helmerich & Payne in a research report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Helmerich & Payne currently has an average rating of “Hold” and a consensus price target of $36.20.

About Helmerich & Payne

Helmerich & Payne, Inc is a leading provider of contract drilling services to the oil and gas industry, specializing primarily in onshore drilling operations. The company designs, engineers and operates a fleet of advanced drilling rigs, including its proprietary FlexRigs, which are engineered for high efficiency, safety and rapid mobilization. Alongside core drilling services, Helmerich & Payne offers well intervention, workover and coiled tubing services, positioning itself as a comprehensive drilling solutions partner for exploration and production companies worldwide.

Founded in 1920 and headquartered in Tulsa, Oklahoma, Helmerich & Payne has grown through innovation and strategic expansion to serve diverse hydrocarbon basins.