Helmerich & Payne, Inc. (NYSE:HP) Position Decreased by Capital Investment Counsel Inc

Capital Investment Counsel Inc cut its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 34.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,007 shares of the oil and gas company’s stock after selling 12,500 shares during the period. Capital Investment Counsel Inc’s holdings in Helmerich & Payne were worth $1,598,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of HP. Toronto Dominion Bank increased its stake in shares of Helmerich & Payne by 57.0% in the first quarter. Toronto Dominion Bank now owns 29,291 shares of the oil and gas company’s stock worth $1,950,000 after buying an additional 10,637 shares in the last quarter. Smith Asset Management Group LP increased its stake in shares of Helmerich & Payne by 1.0% in the first quarter. Smith Asset Management Group LP now owns 209,207 shares of the oil and gas company’s stock worth $13,941,000 after buying an additional 2,027 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of Helmerich & Payne by 0.9% in the fourth quarter. Macquarie Group Ltd. now owns 53,350 shares of the oil and gas company’s stock worth $4,129,000 after buying an additional 500 shares in the last quarter. US Bancorp DE increased its stake in shares of Helmerich & Payne by 33.6% in the first quarter. US Bancorp DE now owns 303,054 shares of the oil and gas company’s stock worth $20,174,000 after buying an additional 76,291 shares in the last quarter. Finally, Denver Investment Advisors LLC increased its stake in shares of Helmerich & Payne by 0.5% in the first quarter. Denver Investment Advisors LLC now owns 26,805 shares of the oil and gas company’s stock worth $1,784,000 after buying an additional 124 shares in the last quarter.

Helmerich & Payne, Inc. (NYSE HP) opened at 55.36 on Wednesday. Helmerich & Payne, Inc. has a 1-year low of $49.46 and a 1-year high of $85.78. The firm’s market cap is $6.01 billion. The firm’s 50-day moving average price is $53.61 and its 200-day moving average price is $64.01.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Thursday, April 27th. The oil and gas company reported ($0.47) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.40) by $0.07. Helmerich & Payne had a negative net margin of 12.09% and a negative return on equity of 3.96%. The business had revenue of $405.30 million for the quarter, compared to the consensus estimate of $386.83 million. During the same period in the prior year, the business posted $0.19 EPS. Helmerich & Payne’s revenue for the quarter was down 7.5% on a year-over-year basis. Equities research analysts anticipate that Helmerich & Payne, Inc. will post ($1.34) earnings per share for the current fiscal year.

The company 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 annualized dividend and a dividend yield of 5.06%. The ex-dividend date of this dividend is Wednesday, August 16th. Helmerich & Payne’s dividend payout ratio (DPR) is currently -168.67%.

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A number of equities research analysts have weighed in on HP shares. BMO Capital Markets reaffirmed a “sell” rating and issued a $54.00 target price on shares of Helmerich & Payne in a report on Thursday, June 22nd. Zacks Investment Research raised Helmerich & Payne from a “hold” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Monday, April 3rd. Credit Suisse Group reissued a “sell” rating and set a $63.00 price objective on shares of Helmerich & Payne in a report on Thursday, March 30th. Scotiabank reissued a “hold” rating and set a $82.00 price objective on shares of Helmerich & Payne in a report on Wednesday, March 22nd. Finally, Iberia Capital raised Helmerich & Payne from a “sector perform” rating to an “outperform” rating and set a $74.00 price objective on the stock in a report on Thursday, May 4th. Seven investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $60.35.

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.

Institutional Ownership by Quarter for Helmerich & Payne (NYSE:HP)

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