SignalPoint Asset Management LLC cut its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 53.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,016 shares of the oil and gas company’s stock after selling 5,842 shares during the period. SignalPoint Asset Management LLC’s holdings in Helmerich & Payne were worth $345,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Helmerich & Payne during the 2nd quarter valued at $134,000. Viking Fund Management LLC purchased a new stake in shares of Helmerich & Payne during the 2nd quarter valued at $159,000. Abner Herrman & Brock LLC purchased a new stake in shares of Helmerich & Payne during the 3rd quarter valued at $206,000. Pratt Collard Advisory Partners LLC purchased a new stake in shares of Helmerich & Payne during the 3rd quarter valued at $208,000. Finally, UMB Bank N A MO purchased a new stake in shares of Helmerich & Payne during the 3rd quarter valued at $215,000. 92.11% of the stock is owned by institutional investors.
In other Helmerich & Payne news, CEO John W. Lindsay sold 30,000 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $70.00, for a total value of $2,100,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Chapman Paula Marshall sold 11,309 shares of the business’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $65.13, for a total transaction of $736,555.17. Following the completion of the transaction, the director now owns 14,874 shares in the company, valued at approximately $968,743.62. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Monday, November 12th will be issued 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 4.56%. Helmerich & Payne’s dividend payout ratio is currently -223.62%.
Several brokerages have recently issued reports on HP. Zacks Investment Research raised shares of Helmerich & Payne from a “hold” rating to a “buy” rating and set a $81.00 price objective for the company in a research note on Tuesday, October 9th. Wolfe Research began coverage on shares of Helmerich & Payne in a research report on Wednesday, October 10th. They set an “underperform” rating for the company. B. Riley set a $83.00 price target on shares of Helmerich & Payne and gave the stock a “buy” rating in a research report on Sunday, October 7th. Capital One Financial raised shares of Helmerich & Payne from an “equal weight” rating to an “overweight” rating in a research report on Friday, October 5th. Finally, Wells Fargo & Co set a $72.00 price target on shares of Helmerich & Payne and gave the stock a “hold” rating in a research report on Monday, October 15th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. Helmerich & Payne currently has a consensus rating of “Hold” and a consensus price target of $72.00.
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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