JPMorgan Chase & Co. Has $11.23 Million Stake in Helmerich & Payne, Inc. (HP)

JPMorgan Chase & Co. lowered its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 16.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 168,673 shares of the oil and gas company’s stock after selling 33,358 shares during the period. JPMorgan Chase & Co. owned 0.15% of Helmerich & Payne worth $11,228,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in HP. Cambridge Investment Research Advisors Inc. raised its stake in Helmerich & Payne by 23.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 5,267 shares of the oil and gas company’s stock valued at $340,000 after acquiring an additional 1,016 shares during the period. UBS Asset Management Americas Inc. raised its stake in Helmerich & Payne by 0.3% in the 4th quarter. UBS Asset Management Americas Inc. now owns 320,547 shares of the oil and gas company’s stock valued at $20,720,000 after acquiring an additional 1,063 shares during the period. Amalgamated Bank raised its stake in Helmerich & Payne by 5.7% in the 4th quarter. Amalgamated Bank now owns 22,060 shares of the oil and gas company’s stock valued at $1,426,000 after acquiring an additional 1,184 shares during the period. SFE Investment Counsel raised its stake in Helmerich & Payne by 11.3% in the 1st quarter. SFE Investment Counsel now owns 12,475 shares of the oil and gas company’s stock valued at $830,000 after acquiring an additional 1,265 shares during the period. Finally, Captrust Financial Advisors raised its stake in Helmerich & Payne by 8.0% in the 4th quarter. Captrust Financial Advisors now owns 17,494 shares of the oil and gas company’s stock valued at $1,131,000 after acquiring an additional 1,292 shares during the period. Institutional investors own 95.92% of the company’s stock.

HP has been the topic of a number of research analyst reports. Morgan Stanley increased their price target on Helmerich & Payne from $56.00 to $60.00 and gave the company an “underweight” rating in a research note on Wednesday, April 11th. Zacks Investment Research upgraded Helmerich & Payne from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research note on Monday, March 12th. Wells Fargo & Co upgraded Helmerich & Payne from an “underperform” rating to a “market perform” rating in a research note on Wednesday, April 11th. TheStreet cut Helmerich & Payne from a “b-” rating to a “c” rating in a research note on Thursday, April 26th. Finally, Credit Suisse Group increased their price target on Helmerich & Payne from $51.00 to $63.00 and gave the company a “market perform” rating in a research note on Friday, April 27th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $59.52.

In other news, VP Robert L. Stauder sold 3,820 shares of the stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $69.30, for a total transaction of $264,726.00. Following the sale, the vice president now directly owns 21,016 shares of the company’s stock, valued at approximately $1,456,408.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Juan Pablo Tardio sold 52,781 shares of the stock in a transaction on Friday, May 18th. The stock was sold at an average price of $72.44, for a total value of $3,823,455.64. Following the sale, the chief financial officer now directly owns 25,628 shares in the company, valued at $1,856,492.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,481 shares of company stock worth $4,805,174. 4.10% of the stock is currently owned by insiders.

Shares of NYSE HP opened at $63.70 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.32 and a quick ratio of 2.90. Helmerich & Payne, Inc. has a one year low of $42.16 and a one year high of $75.02.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Thursday, April 26th. The oil and gas company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). Helmerich & Payne had a negative return on equity of 0.81% and a net margin of 20.39%. The firm had revenue of $577.50 million for the quarter, compared to analyst estimates of $566.02 million. During the same period in the prior year, the firm posted ($0.47) EPS. The company’s revenue for the quarter was up 42.5% on a year-over-year basis. equities analysts predict that Helmerich & Payne, Inc. will post 0.13 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 31st. Shareholders of record on Friday, August 17th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 4.46%. This is a positive change from Helmerich & Payne’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Thursday, August 16th. Helmerich & Payne’s dividend payout ratio is currently -220.47%.

Helmerich & Payne Profile

Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.

Institutional Ownership by Quarter for Helmerich & Payne (NYSE:HP)

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