Gotham Asset Management LLC Cuts Position in Helmerich & Payne, Inc. (NYSE:HP)

Gotham Asset Management LLC decreased its position in Helmerich & Payne, Inc. (NYSE:HP) by 63.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,201 shares of the oil and gas company’s stock after selling 39,595 shares during the quarter. Gotham Asset Management LLC’s holdings in Helmerich & Payne were worth $743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of HP. Earnest Partners LLC lifted its holdings in shares of Helmerich & Payne by 1.0% in the 4th quarter. Earnest Partners LLC now owns 3,487,019 shares of the oil and gas company’s stock valued at $111,654,000 after acquiring an additional 35,013 shares during the last quarter. ARGA Investment Management LP raised its position in Helmerich & Payne by 42.5% during the fourth quarter. ARGA Investment Management LP now owns 2,686,215 shares of the oil and gas company’s stock valued at $86,013,000 after purchasing an additional 801,000 shares during the period. American Century Companies Inc. lifted its stake in shares of Helmerich & Payne by 14.0% in the 4th quarter. American Century Companies Inc. now owns 2,658,356 shares of the oil and gas company’s stock valued at $85,121,000 after purchasing an additional 327,374 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Helmerich & Payne by 5.1% in the 4th quarter. Northern Trust Corp now owns 1,699,388 shares of the oil and gas company’s stock worth $54,414,000 after purchasing an additional 82,254 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Helmerich & Payne by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,557,931 shares of the oil and gas company’s stock valued at $49,885,000 after purchasing an additional 53,277 shares during the last quarter. 96.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HP has been the subject of a number of analyst reports. TD Cowen lowered their price target on Helmerich & Payne from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Friday, May 9th. Morgan Stanley reduced their target price on shares of Helmerich & Payne from $27.00 to $20.00 and set an “underweight” rating on the stock in a research note on Friday. Susquehanna lowered their target price on shares of Helmerich & Payne from $43.00 to $28.00 and set a “positive” rating for the company in a report on Monday, April 14th. Citigroup cut their price target on shares of Helmerich & Payne from $32.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Finally, Royal Bank of Canada decreased their price objective on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating for the company in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $29.40.

Helmerich & Payne Stock Performance

Shares of NYSE:HP opened at $17.82 on Monday. The firm’s 50 day simple moving average is $21.53 and its 200-day simple moving average is $28.27. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.52 and a current ratio of 2.81. Helmerich & Payne, Inc. has a one year low of $17.49 and a one year high of $42.60. The firm has a market cap of $1.77 billion, a PE ratio of 5.86, a price-to-earnings-growth ratio of 3.52 and a beta of 0.93.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Wednesday, May 7th. The oil and gas company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.63). The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $961.03 million. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. The company’s revenue for the quarter was up 47.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.84 earnings per share. As a group, equities analysts predict that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.00 annualized dividend and a dividend yield of 5.61%. Helmerich & Payne’s payout ratio is currently 45.66%.

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.