First Republic Investment Management Inc. cut its position in Helmerich & Payne, Inc. (NYSE:HP) by 13.9% during the second quarter, Holdings Channel reports. The fund owned 8,378 shares of the oil and gas company’s stock after selling 1,358 shares during the period. First Republic Investment Management Inc.’s holdings in Helmerich & Payne were worth $534,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Rampart Investment Management Company LLC boosted its stake in shares of Helmerich & Payne by 84.3% in the first quarter. Rampart Investment Management Company LLC now owns 2,453 shares of the oil and gas company’s stock worth $163,000 after acquiring an additional 1,122 shares during the last quarter. Viking Fund Management LLC acquired a new stake in shares of Helmerich & Payne in the second quarter worth approximately $159,000. Independent Advisor Alliance acquired a new stake in shares of Helmerich & Payne in the second quarter worth approximately $207,000. Argus Investors Counsel Inc. acquired a new stake in shares of Helmerich & Payne in the second quarter worth approximately $243,000. Finally, Unigestion Holding SA acquired a new position in Helmerich & Payne during the second quarter worth $262,000. 91.94% of the stock is currently owned by hedge funds and other institutional investors.
In other Helmerich & Payne news, Director Chapman Paula Marshall sold 11,309 shares of Helmerich & Payne stock in a transaction on Friday, September 14th. The stock was sold at an average price of $65.13, for a total value of $736,555.17. Following the sale, the director now owns 14,874 shares in the company, valued at $968,743.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is owned by insiders.
Helmerich & Payne (NYSE:HP) last posted its earnings results on Wednesday, July 25th. The oil and gas company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.04). Helmerich & Payne had a net margin of 19.70% and a negative return on equity of 0.37%. The business had revenue of $648.87 million during the quarter, compared to analysts’ expectations of $617.06 million. During the same quarter in the prior year, the firm earned ($0.25) EPS. Helmerich & Payne’s revenue for the quarter was up 30.1% compared to the same quarter last year. research analysts predict that Helmerich & Payne, Inc. will post 0.02 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 12th will be given a $0.71 dividend. The ex-dividend date is Thursday, November 8th. This represents a $2.84 dividend on an annualized basis and a yield of 4.20%. Helmerich & Payne’s dividend payout ratio is currently -223.62%.
A number of equities analysts have weighed in on the company. ValuEngine lowered Helmerich & Payne from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Cowen set a $57.00 price objective on Helmerich & Payne and gave the stock a “hold” rating in a research note on Monday, July 30th. Jefferies Financial Group raised Helmerich & Payne from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research note on Tuesday, June 19th. Piper Jaffray Companies set a $67.00 price objective on Helmerich & Payne and gave the stock a “hold” rating in a research note on Sunday, July 29th. Finally, JPMorgan Chase & Co. boosted their price objective on Helmerich & Payne from $47.00 to $49.00 and gave the stock an “underweight” rating in a research note on Friday, July 27th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $67.93.
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.
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