Helmerich & Payne, Inc. (NYSE:HP) Shares Sold by Wendell David Associates Inc.

Wendell David Associates Inc. decreased its position in Helmerich & Payne, Inc. (NYSE:HP) by 0.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 37,372 shares of the oil and gas company’s stock after selling 250 shares during the period. Wendell David Associates Inc.’s holdings in Helmerich & Payne were worth $2,031,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. boosted its position in Helmerich & Payne by 33.3% in the first quarter. Fox Run Management L.L.C. now owns 4,000 shares of the oil and gas company’s stock worth $266,000 after buying an additional 1,000 shares during the period. Alpha Windward LLC boosted its position in Helmerich & Payne by 3.2% in the first quarter. Alpha Windward LLC now owns 7,693 shares of the oil and gas company’s stock worth $512,000 after buying an additional 240 shares during the period. Verde Servicos Internacionais S.A. purchased a new position in Helmerich & Payne during the first quarter worth approximately $306,000. Gulf International Bank UK Ltd boosted its position in Helmerich & Payne by 0.6% in the first quarter. Gulf International Bank UK Ltd now owns 32,302 shares of the oil and gas company’s stock worth $2,150,000 after buying an additional 200 shares during the period. Finally, Creative Planning boosted its position in Helmerich & Payne by 116.9% in the first quarter. Creative Planning now owns 22,668 shares of the oil and gas company’s stock worth $1,509,000 after buying an additional 12,215 shares during the period.

Helmerich & Payne, Inc. (HP) opened at 49.34 on Friday. The stock’s market cap is $5.36 billion. The firm’s 50 day moving average price is $53.95 and its 200 day moving average price is $62.28. Helmerich & Payne, Inc. has a one year low of $48.62 and a one year high of $85.78.

Helmerich & Payne (NYSE:HP) last released its earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.05. The company had revenue of $498.60 million during the quarter, compared to the consensus estimate of $452.42 million. Helmerich & Payne had a negative net margin of 11.19% and a negative return on equity of 3.37%. The company’s revenue was up 36.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.20) EPS. Equities analysts forecast that Helmerich & Payne, Inc. will post ($1.32) earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 5.67%. The ex-dividend date of this dividend is Wednesday, August 16th. Helmerich & Payne’s payout ratio is currently -167.66%.

A number of research firms have recently weighed in on HP. BMO Capital Markets set a $54.00 price objective on Helmerich & Payne and gave the stock a “sell” rating in a research report on Wednesday, April 12th. Zacks Investment Research lowered Helmerich & Payne from a “buy” rating to a “hold” rating in a research report on Monday, April 10th. Jefferies Group LLC set a $55.00 price objective on Helmerich & Payne and gave the stock a “sell” rating in a research report on Monday, April 24th. Goldman Sachs Group, Inc. (The) lowered Helmerich & Payne from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $63.00 to $45.00 in a research report on Monday, May 22nd. Finally, Iberia Capital raised Helmerich & Payne from a “sector perform” rating to an “outperform” rating and set a $74.00 price objective on the stock in a research report on Thursday, May 4th. Seven equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $57.10.

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.