Corebridge Financial Inc. Sells 4,027 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Corebridge Financial Inc. decreased its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,542 shares of the oil and gas company’s stock after selling 4,027 shares during the quarter. Corebridge Financial Inc.’s holdings in Helmerich & Payne were worth $1,650,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in HP. ARGA Investment Management LP raised its stake in Helmerich & Payne by 42.5% during the 4th quarter. ARGA Investment Management LP now owns 2,686,215 shares of the oil and gas company’s stock worth $86,013,000 after acquiring an additional 801,000 shares during the period. Van ECK Associates Corp lifted its stake in shares of Helmerich & Payne by 27.7% during the 4th quarter. Van ECK Associates Corp now owns 1,522,144 shares of the oil and gas company’s stock valued at $48,739,000 after buying an additional 329,734 shares in the last quarter. American Century Companies Inc. increased its stake in 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 worth $85,121,000 after buying an additional 327,374 shares in the last quarter. Barclays PLC raised its holdings in Helmerich & Payne by 320.2% during the third quarter. Barclays PLC now owns 198,415 shares of the oil and gas company’s stock valued at $6,035,000 after acquiring an additional 151,196 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Helmerich & Payne by 28.0% in the third quarter. JPMorgan Chase & Co. now owns 593,330 shares of the oil and gas company’s stock valued at $18,049,000 after acquiring an additional 129,613 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Citigroup raised Helmerich & Payne from a “neutral” rating to a “buy” rating and lifted their target price for the company from $33.00 to $40.00 in a research note on Friday, January 10th. Royal Bank of Canada reduced their price objective on shares of Helmerich & Payne from $41.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Friday, February 7th. Argus upgraded shares of Helmerich & Payne to a “hold” rating in a research report on Tuesday, February 11th. Morgan Stanley reiterated an “underweight” rating and issued a $27.00 price target on shares of Helmerich & Payne in a report on Thursday, March 27th. Finally, Evercore ISI reissued an “in-line” rating and set a $39.00 price objective (down previously from $48.00) on shares of Helmerich & Payne in a report on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Helmerich & Payne presently has an average rating of “Hold” and a consensus price target of $36.11.

Helmerich & Payne Stock Up 0.9 %

Shares of NYSE:HP opened at $26.74 on Thursday. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 8.80, a PEG ratio of 3.52 and a beta of 1.43. Helmerich & Payne, Inc. has a 12 month low of $23.80 and a 12 month high of $44.11. The company has a current ratio of 2.81, a quick ratio of 2.52 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average price of $27.44 and a 200 day moving average price of $31.54.

Helmerich & Payne (NYSE:HP) last announced its earnings results on Wednesday, February 5th. The oil and gas company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Helmerich & Payne had a return on equity of 11.31% and a net margin of 11.02%. As a group, equities research analysts predict that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.74%. The ex-dividend date is Thursday, May 15th. Helmerich & Payne’s dividend payout ratio is currently 32.89%.

Insider Transactions at Helmerich & Payne

In other Helmerich & Payne news, CEO John W. Lindsay purchased 20,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average cost of $27.55 per share, with a total value of $551,000.00. Following the purchase, the chief executive officer now owns 691,214 shares of the company’s stock, valued at approximately $19,042,945.70. The trade was a 2.98 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Belgacem Chariag acquired 37,356 shares of the business’s stock in a transaction on Monday, February 10th. The stock was acquired at an average cost of $27.08 per share, for a total transaction of $1,011,600.48. Following the transaction, the director now directly owns 54,606 shares in the company, valued at $1,478,730.48. The trade was a 216.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 4.51% of the company’s stock.

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.