Lyell Wealth Management LP cut its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 57.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,885 shares of the oil and gas company’s stock after selling 10,655 shares during the period. Lyell Wealth Management LP’s holdings in Helmerich & Payne were worth $411,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of HP. Brandywine Global Investment Management LLC increased its stake in Helmerich & Payne by 2,253.8% during the second quarter. Brandywine Global Investment Management LLC now owns 2,147,944 shares of the oil and gas company’s stock worth $116,720,000 after acquiring an additional 2,056,689 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Helmerich & Payne by 68.8% during the second quarter. Artisan Partners Limited Partnership now owns 3,904,089 shares of the oil and gas company’s stock valued at $212,148,000 after buying an additional 1,590,793 shares during the period. Capital International Investors boosted its position in shares of Helmerich & Payne by 33.5% during the second quarter. Capital International Investors now owns 5,849,715 shares of the oil and gas company’s stock valued at $317,874,000 after buying an additional 1,466,700 shares during the period. Kiltearn Partners LLP boosted its position in shares of Helmerich & Payne by 165.0% during the second quarter. Kiltearn Partners LLP now owns 2,289,302 shares of the oil and gas company’s stock valued at $124,401,000 after buying an additional 1,425,513 shares during the period. Finally, Prudential PLC boosted its position in shares of Helmerich & Payne by 64.8% during the second quarter. Prudential PLC now owns 2,487,853 shares of the oil and gas company’s stock valued at $135,190,000 after buying an additional 977,825 shares during the period.
HP has been the subject of a number of research reports. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $53.00 price target (down previously from $65.00) on shares of Helmerich & Payne in a report on Friday, September 8th. Seaport Global Securities reiterated a “sell” rating on shares of Helmerich & Payne in a report on Thursday, July 20th. Cowen and Company restated a “hold” rating and set a $50.00 target price on shares of Helmerich & Payne in a report on Friday, August 11th. B. Riley restated a “neutral” rating on shares of Helmerich & Payne in a report on Wednesday, November 1st. Finally, Iberia Capital lowered Helmerich & Payne from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $74.00 to $55.00 in a report on Monday, July 31st. Nine analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. Helmerich & Payne presently has an average rating of “Hold” and an average target price of $54.27.
In related news, CEO John W. Lindsay bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was purchased at an average price of $47.73 per share, for a total transaction of $238,650.00. Following the acquisition, the chief executive officer now owns 147,727 shares of the company’s stock, valued at $7,051,009.71. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.23% of the stock is owned by company insiders.
Shares of Helmerich & Payne, Inc. (NYSE:HP) opened at $54.38 on Wednesday. The company has a current ratio of 3.74, a quick ratio of 3.33 and a debt-to-equity ratio of 0.12. Helmerich & Payne, Inc. has a 1-year low of $42.16 and a 1-year high of $85.78.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, November 13th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, November 10th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 5.15%. Helmerich & Payne’s dividend payout ratio is currently -167.66%.
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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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