Helmerich & Payne, Inc. (HP) Shares Sold by Public Sector Pension investment Board

Public Sector Pension investment Board reduced its stake in Helmerich & Payne, Inc. (NYSE:HP) by 52.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,788 shares of the oil and gas company’s stock after selling 12,800 shares during the period. Public Sector Pension investment Board’s holdings in Helmerich & Payne were worth $641,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of HP. BlackRock Inc. grew its holdings in shares of Helmerich & Payne by 4.5% during the second quarter. BlackRock Inc. now owns 11,459,741 shares of the oil and gas company’s stock valued at $622,721,000 after buying an additional 492,673 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Helmerich & Payne by 0.7% during the first quarter. Vanguard Group Inc. now owns 10,509,013 shares of the oil and gas company’s stock valued at $699,585,000 after buying an additional 68,948 shares during the last quarter. State Street Corp grew its holdings in shares of Helmerich & Payne by 6.0% during the first quarter. State Street Corp now owns 6,284,704 shares of the oil and gas company’s stock valued at $418,376,000 after buying an additional 357,686 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of Helmerich & Payne by 68.8% during the second quarter. Artisan Partners Limited Partnership now owns 3,904,089 shares of the oil and gas company’s stock valued at $212,148,000 after buying an additional 1,590,793 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Helmerich & Payne by 18.7% during the second quarter. American Century Companies Inc. now owns 2,292,310 shares of the oil and gas company’s stock valued at $124,564,000 after buying an additional 361,629 shares during the last quarter.

A number of research analysts have recently issued reports on HP shares. J P Morgan Chase & Co reduced their price objective on shares of Helmerich & Payne from $44.00 to $38.00 and set an “underweight” rating for the company in a report on Tuesday, September 12th. Morgan Stanley cut shares of Helmerich & Payne from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $85.00 to $56.00 in a report on Wednesday, June 21st. BMO Capital Markets restated a “sell” rating and set a $54.00 price target on shares of Helmerich & Payne in a report on Thursday, June 22nd. Cowen and Company restated a “hold” rating and set a $50.00 price target on shares of Helmerich & Payne in a report on Friday, August 11th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $53.00 price target (down from $65.00) on shares of Helmerich & Payne in a report on Friday, September 8th. Nine investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $54.27.

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Shares of Helmerich & Payne, Inc. (NYSE:HP) opened at 52.53 on Tuesday. Helmerich & Payne, Inc. has a 12 month low of $42.16 and a 12 month high of $85.78. The stock’s market cap is $5.70 billion. The firm’s 50-day moving average is $49.17 and its 200 day moving average is $54.06.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.05. Helmerich & Payne had a negative return on equity of 3.37% and a negative net margin of 11.19%. The firm had revenue of $498.60 million for the quarter, compared to analyst estimates of $452.42 million. During the same quarter last year, the firm posted ($0.20) EPS. The business’s revenue was up 36.0% on a year-over-year basis. On average, equities analysts predict that Helmerich & Payne, Inc. will post ($1.33) EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, November 13th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 5.33%. The ex-dividend date of this dividend is Friday, November 10th. Helmerich & Payne’s dividend payout ratio is currently -167.66%.

In other news, CEO John W. Lindsay acquired 5,000 shares of Helmerich & Payne stock in a transaction that occurred on Tuesday, September 12th. The stock was purchased at an average cost of $47.73 per share, with a total value of $238,650.00. Following the purchase, the chief executive officer now owns 147,727 shares in the company, valued at $7,051,009.71. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.23% of the stock is currently owned by corporate insiders.

About Helmerich & Payne

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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