LPL Financial LLC Cuts Stock Holdings in Helmerich & Payne, Inc. (NYSE:HP)

LPL Financial LLC lowered its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,415 shares of the oil and gas company’s stock after selling 511 shares during the quarter. LPL Financial LLC’s holdings in Helmerich & Payne were worth $795,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Helmerich & Payne by 8.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 27,491 shares of the oil and gas company’s stock valued at $975,000 after acquiring an additional 2,075 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Helmerich & Payne by 19.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 21,674 shares of the oil and gas company’s stock worth $768,000 after buying an additional 3,477 shares during the period. Moody Aldrich Partners LLC boosted its stake in shares of Helmerich & Payne by 44.3% during the second quarter. Moody Aldrich Partners LLC now owns 136,556 shares of the oil and gas company’s stock worth $4,841,000 after buying an additional 41,938 shares during the period. Capital Investment Counsel Inc boosted its stake in shares of Helmerich & Payne by 4.0% during the second quarter. Capital Investment Counsel Inc now owns 76,320 shares of the oil and gas company’s stock worth $2,706,000 after buying an additional 2,940 shares during the period. Finally, EA Series Trust acquired a new stake in shares of Helmerich & Payne during the second quarter worth about $703,000. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Citigroup increased their target price on shares of Helmerich & Payne from $38.00 to $42.00 in a research note on Friday, October 6th. Piper Sandler cut their price target on shares of Helmerich & Payne from $51.00 to $47.00 and set an “overweight” rating for the company in a report on Monday, November 13th. Morgan Stanley increased their price target on shares of Helmerich & Payne from $42.00 to $44.00 and gave the stock an “underweight” rating in a report on Tuesday, October 17th. Atb Cap Markets cut shares of Helmerich & Payne from an “outperform” rating to a “sector perform” rating in a report on Thursday, November 16th. Finally, StockNews.com cut shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $47.70.

Insider Buying and Selling

In related news, SVP Raymond John Adams III sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $42.48, for a total transaction of $254,880.00. Following the sale, the senior vice president now owns 71,525 shares in the company, valued at $3,038,382. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Hans Helmerich sold 25,627 shares of the firm’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $42.46, for a total transaction of $1,088,122.42. Following the sale, the director now owns 1,340,288 shares in the company, valued at $56,908,628.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Raymond John Adams III sold 6,000 shares of Helmerich & Payne stock in a transaction on Monday, September 25th. The shares were sold at an average price of $42.48, for a total transaction of $254,880.00. Following the completion of the transaction, the senior vice president now owns 71,525 shares in the company, valued at approximately $3,038,382. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,127 shares of company stock worth $1,455,502. 4.16% of the stock is owned by insiders.

Helmerich & Payne Trading Up 1.1 %

Shares of HP opened at $38.45 on Tuesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.40 and a quick ratio of 2.18. The firm has a 50 day simple moving average of $41.29 and a 200-day simple moving average of $38.85. Helmerich & Payne, Inc. has a 1-year low of $30.41 and a 1-year high of $54.45. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of 9.24 and a beta of 1.69.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Thursday, November 9th. The oil and gas company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.03). Helmerich & Payne had a return on equity of 15.76% and a net margin of 15.11%. The business had revenue of $659.61 million for the quarter, compared to analysts’ expectations of $662.17 million. During the same period last year, the business earned $0.45 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities analysts forecast that Helmerich & Payne, Inc. will post 3.13 EPS for the current fiscal year.

Helmerich & Payne Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Monday, November 20th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, November 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.60%. Helmerich & Payne’s dividend payout ratio (DPR) is 24.04%.

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.