Teachers Retirement System of The State of Kentucky Sells 36,641 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Teachers Retirement System of The State of Kentucky lowered its stake in Helmerich & Payne, Inc. (NYSE:HP) by 51.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,301 shares of the oil and gas company’s stock after selling 36,641 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Helmerich & Payne were worth $1,043,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in HP. Covestor Ltd grew its position in Helmerich & Payne by 76.9% during the 3rd quarter. Covestor Ltd now owns 1,479 shares of the oil and gas company’s stock worth $45,000 after acquiring an additional 643 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Helmerich & Payne by 127.8% during the third quarter. Blue Trust Inc. now owns 1,522 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 854 shares in the last quarter. Headlands Technologies LLC grew its holdings in shares of Helmerich & Payne by 96.9% during the second quarter. Headlands Technologies LLC now owns 1,538 shares of the oil and gas company’s stock worth $56,000 after purchasing an additional 757 shares during the last quarter. Quarry LP acquired a new position in shares of Helmerich & Payne in the third quarter valued at approximately $48,000. Finally, Eastern Bank acquired a new position in shares of Helmerich & Payne in the third quarter valued at approximately $61,000. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Helmerich & Payne Trading Down 6.2 %

NYSE HP opened at $30.61 on Thursday. The stock has a market capitalization of $3.02 billion, a P/E ratio of 8.90, a P/E/G ratio of 4.21 and a beta of 1.39. The business has a 50 day simple moving average of $34.49 and a 200 day simple moving average of $34.50. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.67 and a quick ratio of 2.40. Helmerich & Payne, Inc. has a one year low of $29.46 and a one year high of $44.11.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, November 13th. The oil and gas company reported $0.76 EPS for the quarter, hitting the consensus estimate of $0.76. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. The company had revenue of $693.79 million during the quarter, compared to the consensus estimate of $695.99 million. During the same quarter last year, the firm posted $0.69 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Research analysts expect that Helmerich & Payne, Inc. will post 3.12 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, February 14th. This represents a $1.00 annualized dividend and a dividend yield of 3.27%. Helmerich & Payne’s dividend payout ratio is currently 29.07%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada reduced their target price on shares of Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating on the stock in a report on Friday, November 15th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Citigroup lowered their target price on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, September 13th. The Goldman Sachs Group reduced their price target on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating on the stock in a research report on Thursday, August 29th. Finally, Barclays lowered their price objective on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $38.57.

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.