Maryland State Retirement & Pension System Sells 486 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Maryland State Retirement & Pension System decreased its position in Helmerich & Payne, Inc. (NYSE:HP) by 1.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 36,136 shares of the oil and gas company’s stock after selling 486 shares during the period. Maryland State Retirement & Pension System’s holdings in Helmerich & Payne were worth $1,309,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. LSV Asset Management raised its stake in shares of Helmerich & Payne by 11,750.0% during the fourth quarter. LSV Asset Management now owns 568,800 shares of the oil and gas company’s stock valued at $20,602,000 after acquiring an additional 564,000 shares during the last quarter. M&T Bank Corp raised its position in Helmerich & Payne by 5.7% during the 4th quarter. M&T Bank Corp now owns 8,510 shares of the oil and gas company’s stock valued at $308,000 after purchasing an additional 457 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Helmerich & Payne by 8.7% in the 4th quarter. Victory Capital Management Inc. now owns 2,628,685 shares of the oil and gas company’s stock worth $95,211,000 after buying an additional 210,321 shares during the period. Savant Capital LLC lifted its holdings in Helmerich & Payne by 3.0% in the 4th quarter. Savant Capital LLC now owns 14,882 shares of the oil and gas company’s stock worth $539,000 after buying an additional 438 shares during the period. Finally, Capital Investment Counsel Inc grew its position in shares of Helmerich & Payne by 2.8% in the 4th quarter. Capital Investment Counsel Inc now owns 76,683 shares of the oil and gas company’s stock worth $2,777,000 after buying an additional 2,100 shares during the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HP has been the subject of a number of research analyst reports. Piper Sandler dropped their price target on Helmerich & Payne from $44.00 to $39.00 and set a “neutral” rating for the company in a research note on Monday. Royal Bank of Canada lifted their target price on shares of Helmerich & Payne from $46.00 to $48.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 31st. The Goldman Sachs Group decreased their price target on shares of Helmerich & Payne from $37.00 to $33.00 and set a “sell” rating for the company in a research note on Friday, January 12th. Citigroup lifted their price objective on Helmerich & Payne from $40.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Finally, Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Helmerich & Payne currently has an average rating of “Hold” and a consensus target price of $42.00.

Helmerich & Payne Stock Performance

Helmerich & Payne stock opened at $38.45 on Thursday. Helmerich & Payne, Inc. has a twelve month low of $30.41 and a twelve month high of $46.55. The company has a quick ratio of 1.92, a current ratio of 2.16 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $3.80 billion, a P/E ratio of 10.99, a PEG ratio of 1.85 and a beta of 1.51. The stock’s 50 day moving average is $40.78 and its 200 day moving average is $38.45.

Helmerich & Payne (NYSE:HP) last released its earnings results on Thursday, April 25th. The oil and gas company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.01). Helmerich & Payne had a return on equity of 13.21% and a net margin of 12.84%. The company had revenue of $687.94 million during the quarter, compared to analysts’ expectations of $682.51 million. During the same period in the prior year, the company posted $1.26 earnings per share. The company’s revenue was down 10.6% on a year-over-year basis. On average, equities research analysts predict that Helmerich & Payne, Inc. will post 3.56 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.42 per share. The ex-dividend date is Thursday, May 16th. This represents a $1.68 dividend on an annualized basis and a yield of 4.37%. Helmerich & Payne’s dividend payout ratio is currently 28.57%.

Insiders Place Their Bets

In other Helmerich & Payne news, SVP Cara M. Hair sold 9,910 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $40.22, for a total transaction of $398,580.20. Following the sale, the senior vice president now directly owns 137,764 shares in the company, valued at approximately $5,540,868.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Mark W. Smith sold 16,000 shares of Helmerich & Payne stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $40.49, for a total value of $647,840.00. Following the completion of the sale, the chief financial officer now directly owns 144,870 shares in the company, valued at $5,865,786.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Cara M. Hair sold 9,910 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $40.22, for a total transaction of $398,580.20. Following the transaction, the senior vice president now owns 137,764 shares in the company, valued at approximately $5,540,868.08. The disclosure for this sale can be found here. Corporate insiders own 4.38% of the company’s stock.

About Helmerich & Payne

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.