Massachusetts Financial Services Co. MA Decreases Stake in Helmerich & Payne, Inc. (NYSE:HP)

Massachusetts Financial Services Co. MA trimmed its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 41.1% during the third quarter, Holdings Channel reports. The institutional investor owned 546,232 shares of the oil and gas company’s stock after selling 381,034 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Helmerich & Payne were worth $16,616,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in HP. State of New Jersey Common Pension Fund D lifted its holdings in Helmerich & Payne by 18.1% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 58,634 shares of the oil and gas company’s stock worth $1,784,000 after buying an additional 9,004 shares during the last quarter. Wedge Capital Management L L P NC lifted its stake in Helmerich & Payne by 13.1% during the second quarter. Wedge Capital Management L L P NC now owns 188,402 shares of the oil and gas company’s stock worth $6,809,000 after purchasing an additional 21,852 shares during the last quarter. Caxton Associates LP acquired a new position in Helmerich & Payne in the first quarter valued at approximately $642,000. Bayesian Capital Management LP purchased a new position in Helmerich & Payne in the first quarter valued at approximately $837,000. Finally, William B. Walkup & Associates Inc. acquired a new stake in Helmerich & Payne during the second quarter worth approximately $1,274,000. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Trading Down 2.2 %

Shares of HP stock opened at $35.26 on Tuesday. Helmerich & Payne, Inc. has a twelve month low of $29.46 and a twelve month high of $44.11. The company has a current ratio of 2.67, a quick ratio of 2.40 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $33.95 and its two-hundred day moving average is $34.95. The company has a market capitalization of $3.48 billion, a P/E ratio of 10.25, a price-to-earnings-growth ratio of 4.29 and a beta of 1.40.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Wednesday, November 13th. The oil and gas company reported $0.76 EPS for the quarter, hitting analysts’ consensus estimates of $0.76. The company had revenue of $693.79 million during the quarter, compared to the consensus estimate of $695.99 million. Helmerich & Payne had a net margin of 12.48% and a return on equity of 12.44%. Helmerich & Payne’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 EPS. Equities analysts forecast that Helmerich & Payne, Inc. will post 3.21 EPS for the current year.

Helmerich & Payne Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Monday, November 18th. Helmerich & Payne’s payout ratio is 29.07%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HP. Benchmark restated a “hold” rating on shares of Helmerich & Payne in a report on Thursday, November 21st. The Goldman Sachs Group decreased their price objective on shares of Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a research note on Thursday, August 29th. Citigroup cut their target price on Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Barclays decreased their target price on Helmerich & Payne from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada decreased their price objective on Helmerich & Payne from $44.00 to $41.00 and set a “sector perform” rating for the company in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $38.57.

Helmerich & Payne 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.