Pinnacle Associates Ltd. Has $2.23 Million Stock Holdings in Helmerich & Payne, Inc. $HP

Pinnacle Associates Ltd. decreased its stake in Helmerich & Payne, Inc. (NYSE:HP) by 25.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 147,298 shares of the oil and gas company’s stock after selling 49,745 shares during the period. Pinnacle Associates Ltd. owned 0.15% of Helmerich & Payne worth $2,233,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in HP. Victory Capital Management Inc. increased its stake in shares of Helmerich & Payne by 28.4% in the first quarter. Victory Capital Management Inc. now owns 3,553,181 shares of the oil and gas company’s stock valued at $92,809,000 after buying an additional 786,250 shares during the period. Invesco Ltd. grew its stake in Helmerich & Payne by 24.7% during the first quarter. Invesco Ltd. now owns 2,704,134 shares of the oil and gas company’s stock worth $70,632,000 after purchasing an additional 535,808 shares during the period. Alyeska Investment Group L.P. acquired a new stake in Helmerich & Payne during the first quarter worth approximately $10,635,000. American Century Companies Inc. grew its stake in Helmerich & Payne by 12.2% during the first quarter. American Century Companies Inc. now owns 2,983,840 shares of the oil and gas company’s stock worth $77,938,000 after purchasing an additional 325,484 shares during the period. Finally, Nuveen LLC acquired a new stake in Helmerich & Payne during the first quarter worth approximately $6,486,000. Institutional investors and hedge funds own 96.05% of the company’s stock.

Insider Buying and Selling at Helmerich & Payne

In other news, CAO Sara Marie Momper sold 6,700 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $17.83, for a total value of $119,461.00. Following the transaction, the chief accounting officer owned 21,908 shares in the company, valued at $390,619.64. This trade represents a 23.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.51% of the stock is owned by corporate insiders.

Helmerich & Payne Trading Down 1.4%

Shares of Helmerich & Payne stock opened at $26.32 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.43 and a current ratio of 1.84. Helmerich & Payne, Inc. has a 52 week low of $14.65 and a 52 week high of $37.46. The stock has a 50 day moving average price of $22.34 and a two-hundred day moving average price of $19.07. The stock has a market capitalization of $2.62 billion, a PE ratio of -79.75 and a beta of 0.91.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Helmerich & Payne had a positive return on equity of 5.81% and a negative net margin of 0.90%.The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter last year, the firm posted $0.92 earnings per share. The company’s revenue for the quarter was up 49.2% compared to the same quarter last year. As a group, equities analysts anticipate that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Tuesday, November 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Tuesday, November 18th. Helmerich & Payne’s dividend payout ratio (DPR) is -303.03%.

Analyst Ratings Changes

Several research firms recently commented on HP. Zacks Research raised Helmerich & Payne to a “hold” rating in a research note on Monday, August 11th. The Goldman Sachs Group raised their target price on Helmerich & Payne from $18.00 to $20.00 and gave the stock a “sell” rating in a research note on Monday, October 6th. TD Cowen raised their target price on Helmerich & Payne from $26.00 to $27.00 and gave the stock a “hold” rating in a research note on Tuesday, August 19th. Royal Bank Of Canada raised their target price on Helmerich & Payne from $23.00 to $24.00 and gave the stock a “sector perform” rating in a research note on Friday, August 8th. Finally, Citigroup raised their target price on Helmerich & Payne from $17.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Helmerich & Payne has an average rating of “Reduce” and a consensus price target of $24.20.

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.