First Midwest Bank Trust Division lessened its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 35.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,440 shares of the oil and gas company’s stock after selling 6,740 shares during the quarter. First Midwest Bank Trust Division’s holdings in Helmerich & Payne were worth $596,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. TLP Group LLC acquired a new position in shares of Helmerich & Payne in the 3rd quarter worth approximately $120,000. Signition LP acquired a new position in Helmerich & Payne during the 3rd quarter valued at approximately $201,000. Eads & Heald Wealth Management acquired a new position in Helmerich & Payne during the 3rd quarter valued at approximately $202,000. Abner Herrman & Brock LLC acquired a new position in Helmerich & Payne during the 3rd quarter valued at approximately $206,000. Finally, Pratt Collard Advisory Partners LLC acquired a new position in Helmerich & Payne during the 3rd quarter valued at approximately $208,000. Hedge funds and other institutional investors own 90.67% of the company’s stock.
In other news, VP John R. Bell sold 13,000 shares of the business’s stock in a transaction on Monday, November 26th. The stock was sold at an average price of $60.17, for a total value of $782,210.00. Following the sale, the vice president now owns 63,375 shares of the company’s stock, valued at approximately $3,813,273.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Michael Lennox sold 6,912 shares of the business’s stock in a transaction on Tuesday, December 11th. The stock was sold at an average price of $60.08, for a total value of $415,272.96. Following the completion of the sale, the vice president now directly owns 10,360 shares in the company, valued at approximately $622,428.80. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.
Helmerich & Payne (NYSE:HP) last announced its earnings results on Thursday, November 15th. The oil and gas company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $696.83 million for the quarter, compared to the consensus estimate of $683.89 million. Helmerich & Payne had a return on equity of 0.41% and a net margin of 19.41%. On average, research analysts forecast that Helmerich & Payne, Inc. will post 1.58 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 8th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 5.25%. The ex-dividend date of this dividend is Thursday, February 7th. Helmerich & Payne’s payout ratio is currently 2,028.57%.
HP has been the subject of a number of analyst reports. BMO Capital Markets restated a “sell” rating and set a $62.00 price objective on shares of Helmerich & Payne in a research report on Sunday, October 21st. B. Riley upgraded Helmerich & Payne from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $83.00 in a research report on Monday, September 24th. Morgan Stanley set a $71.00 price objective on Helmerich & Payne and gave the company a “sell” rating in a research report on Thursday, October 11th. Wells Fargo & Co upgraded Helmerich & Payne from a “market perform” rating to an “outperform” rating and set a $72.00 price objective for the company in a research report on Tuesday, December 11th. Finally, Wolfe Research initiated coverage on Helmerich & Payne in a research report on Wednesday, October 10th. They set an “underperform” rating for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $70.72.
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Helmerich & Payne Profile
Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.
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