Helmerich & Payne, Inc. (NYSE:HP) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 1.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,960 shares of the oil and gas company’s stock after selling 841 shares during the period. Illinois Municipal Retirement Fund owned 0.05% of Helmerich & Payne worth $1,357,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of HP. Versant Capital Management Inc lifted its stake in shares of Helmerich & Payne by 104.2% in the first quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company’s stock worth $44,000 after buying an additional 867 shares in the last quarter. Covestor Ltd raised its holdings in Helmerich & Payne by 61.3% in the 4th quarter. Covestor Ltd now owns 2,386 shares of the oil and gas company’s stock valued at $76,000 after acquiring an additional 907 shares during the last quarter. GAMMA Investing LLC raised its holdings in Helmerich & Payne by 85.4% in the 1st quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company’s stock valued at $83,000 after acquiring an additional 1,459 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Helmerich & Payne by 82.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,805 shares of the oil and gas company’s stock worth $88,000 after purchasing an additional 1,268 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in shares of Helmerich & Payne by 817.5% during the 4th quarter. Sterling Capital Management LLC now owns 3,046 shares of the oil and gas company’s stock worth $98,000 after purchasing an additional 2,714 shares during the last quarter. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on HP shares. JPMorgan Chase & Co. cut their price target on Helmerich & Payne from $25.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, May 28th. Susquehanna cut their target price on Helmerich & Payne from $43.00 to $28.00 and set a “positive” rating for the company in a research note on Monday, April 14th. Morgan Stanley reduced their price target on Helmerich & Payne from $27.00 to $20.00 and set an “underweight” rating on the stock in a report on Friday, May 16th. TD Cowen lowered their price target on shares of Helmerich & Payne from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Friday, May 9th. Finally, The Goldman Sachs Group cut their price objective on shares of Helmerich & Payne from $25.00 to $17.00 and set a “sell” rating for the company in a research report on Tuesday, June 24th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Helmerich & Payne has a consensus rating of “Hold” and a consensus price target of $26.55.

Helmerich & Payne Stock Down 1.3%

Helmerich & Payne stock opened at $15.20 on Tuesday. The company has a market capitalization of $1.51 billion, a PE ratio of 6.94 and a beta of 0.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.68. Helmerich & Payne, Inc. has a fifty-two week low of $14.65 and a fifty-two week high of $42.60. The firm has a 50 day moving average price of $17.53 and a 200 day moving average price of $24.31.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.63). Helmerich & Payne had a net margin of 7.15% and a return on equity of 8.25%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $961.03 million. During the same period in the previous year, the firm posted $0.84 earnings per share. The company’s quarterly revenue was up 47.7% compared to the same quarter last year. Research analysts expect that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 6.58%. Helmerich & Payne’s dividend payout ratio (DPR) is presently 45.66%.

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.