Cwm LLC trimmed its stake in Helmerich & Payne, Inc. (NYSE:HP) by 19.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,463 shares of the oil and gas company’s stock after selling 2,076 shares during the quarter. Cwm LLC’s holdings in Helmerich & Payne were worth $547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Atria Investments LLC bought a new position in Helmerich & Payne during the fourth quarter valued at approximately $3,317,000. Nisa Investment Advisors LLC raised its position in Helmerich & Payne by 6.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 120,080 shares of the oil and gas company’s stock valued at $7,762,000 after acquiring an additional 6,950 shares in the last quarter. Neuberger Berman Group LLC raised its position in Helmerich & Payne by 664.5% during the third quarter. Neuberger Berman Group LLC now owns 716,399 shares of the oil and gas company’s stock valued at $37,332,000 after acquiring an additional 622,696 shares in the last quarter. California Public Employees Retirement System raised its position in Helmerich & Payne by 49.5% during the third quarter. California Public Employees Retirement System now owns 366,038 shares of the oil and gas company’s stock valued at $19,074,000 after acquiring an additional 121,138 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in Helmerich & Payne during the third quarter valued at approximately $241,000.
HP has been the topic of several recent research reports. Jefferies Group set a $50.00 price objective on shares of Helmerich & Payne and gave the company a “hold” rating in a research report on Thursday, October 5th. Royal Bank of Canada set a $57.00 price objective on shares of Helmerich & Payne and gave the company a “sector perform” rating in a research report on Friday, November 17th. Tudor Pickering raised shares of Helmerich & Payne from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Piper Jaffray Companies reaffirmed a “hold” rating and set a $48.00 price objective on shares of Helmerich & Payne in a research report on Friday, November 24th. Finally, Zacks Investment Research lowered shares of Helmerich & Payne from a “buy” rating to a “hold” rating in a research report on Monday, December 4th. Seven analysts have rated the stock with a sell rating, seventeen have given a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $55.04.
Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Thursday, November 16th. The oil and gas company reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.05. Helmerich & Payne had a negative net margin of 7.16% and a negative return on equity of 2.96%. The company had revenue of $532.30 million for the quarter, compared to analyst estimates of $493.78 million. During the same quarter last year, the firm posted ($0.33) earnings per share. The company’s quarterly revenue was up 60.5% compared to the same quarter last year. analysts expect that Helmerich & Payne, Inc. will post -0.38 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Monday, February 12th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Friday, February 9th. Helmerich & Payne’s dividend payout ratio is -233.33%.
In other news, Director Chapman Paula Marshall sold 2,555 shares of Helmerich & Payne stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $57.80, for a total value of $147,679.00. Following the transaction, the director now owns 12,525 shares of the company’s stock, valued at $723,945. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 3.90% of the company’s stock.
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Helmerich & Payne Company Profile
Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.
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