Edgestream Partners L.P. Sells 84,722 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Edgestream Partners L.P. decreased its stake in Helmerich & Payne, Inc. (NYSE:HP) by 75.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,385 shares of the oil and gas company’s stock after selling 84,722 shares during the period. Edgestream Partners L.P.’s holdings in Helmerich & Payne were worth $877,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Helmerich & Payne during the 4th quarter worth approximately $2,788,000. Proficio Capital Partners LLC bought a new position in Helmerich & Payne during the fourth quarter valued at $469,000. Atria Investments Inc increased its position in Helmerich & Payne by 8.8% in the fourth quarter. Atria Investments Inc now owns 11,840 shares of the oil and gas company’s stock worth $379,000 after buying an additional 953 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Helmerich & Payne by 3.5% in the fourth 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 buying an additional 53,277 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Helmerich & Payne during the 4th quarter valued at $131,000. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HP. Evercore ISI restated an “in-line” rating and issued a $39.00 price objective (down from $48.00) on shares of Helmerich & Payne in a research note on Wednesday, January 15th. Citigroup upgraded shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $33.00 to $40.00 in a research note on Friday, January 10th. Royal Bank of Canada dropped their price target on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Friday, February 7th. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, November 21st. Finally, Argus raised shares of Helmerich & Payne to a “hold” rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Helmerich & Payne presently has an average rating of “Hold” and an average target price of $37.25.

Insider Buying and Selling

In other news, CEO John W. Lindsay purchased 20,000 shares of the company’s stock in a transaction on Monday, February 10th. The stock was purchased at an average price of $27.55 per share, with a total value of $551,000.00. Following the completion of the purchase, the chief executive officer now directly owns 691,214 shares in the company, valued at approximately $19,042,945.70. This trade represents a 2.98 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Belgacem Chariag acquired 37,356 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was purchased at an average price of $27.08 per share, with a total value of $1,011,600.48. Following the completion of the acquisition, the director now directly owns 54,606 shares in the company, valued at approximately $1,478,730.48. This represents a 216.56 % increase in their position. The disclosure for this purchase can be found here. 4.51% of the stock is owned by company insiders.

Helmerich & Payne Stock Down 0.5 %

Shares of NYSE:HP opened at $25.29 on Wednesday. The firm has a fifty day moving average price of $30.31 and a two-hundred day moving average price of $32.22. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 8.32, a PEG ratio of 3.52 and a beta of 1.42. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.81 and a quick ratio of 2.52. Helmerich & Payne, Inc. has a one year low of $23.80 and a one year high of $44.11.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, February 5th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. Analysts anticipate that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Thursday, May 15th. Helmerich & Payne’s dividend payout ratio (DPR) is 32.89%.

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.