Alliancebernstein L.P. reduced its stake in Helmerich & Payne, Inc. (NYSE:HP) by 6.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 170,554 shares of the oil and gas company’s stock after selling 11,992 shares during the quarter. Alliancebernstein L.P.’s holdings in Helmerich & Payne were worth $11,729,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in HP. Ffcm LLC raised its holdings in Helmerich & Payne by 4.0% during the third quarter. Ffcm LLC now owns 20,198 shares of the oil and gas company’s stock valued at $1,375,000 after acquiring an additional 780 shares during the period. Toronto Dominion Bank raised its holdings in Helmerich & Payne by 1.2% during the third quarter. Toronto Dominion Bank now owns 70,803 shares of the oil and gas company’s stock valued at $4,868,000 after acquiring an additional 809 shares during the period. Front Barnett Associates LLC raised its holdings in Helmerich & Payne by 0.8% during the second quarter. Front Barnett Associates LLC now owns 123,087 shares of the oil and gas company’s stock valued at $7,848,000 after acquiring an additional 990 shares during the period. Gabelli Funds LLC raised its holdings in Helmerich & Payne by 2.9% during the second quarter. Gabelli Funds LLC now owns 35,000 shares of the oil and gas company’s stock valued at $2,232,000 after acquiring an additional 1,000 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Helmerich & Payne by 3.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,204 shares of the oil and gas company’s stock valued at $1,735,000 after acquiring an additional 1,001 shares during the period. 90.68% of the stock is currently owned by institutional investors.

A number of research firms have commented on HP. Seaport Global Securities raised Helmerich & Payne from a “sell” rating to a “neutral” rating and raised their price target for the company from $61.00 to $64.00 in a report on Friday. Wells Fargo & Co set a $72.00 price target on Helmerich & Payne and gave the company a “hold” rating in a report on Monday, October 15th. They noted that the move was a valuation call. B. Riley raised Helmerich & Payne from a “neutral” rating to a “buy” rating and raised their price target for the company from $68.00 to $83.00 in a report on Monday, September 24th. Credit Suisse Group upgraded Helmerich & Payne from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $63.00 to $65.00 in a research report on Monday, November 19th. Finally, BMO Capital Markets upgraded Helmerich & Payne from an “underperform” rating to a “market perform” rating and set a $68.00 price objective for the company in a research report on Monday, October 29th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $72.11.

In related news, Director Chapman Paula Marshall sold 11,309 shares of Helmerich & Payne stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $65.13, for a total value of $736,555.17. Following the completion of the transaction, 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 SEC, which is available at this hyperlink. Also, VP John R. Bell sold 13,000 shares of Helmerich & Payne stock in a transaction dated Monday, November 26th. The stock was sold at an average price of $60.17, for a total value of $782,210.00. Following the completion of the transaction, the vice president now owns 63,375 shares of the company’s stock, valued at approximately $3,813,273.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,309 shares of company stock valued at $3,618,765. 4.10% of the stock is currently owned by company insiders.

Shares of Helmerich & Payne stock opened at $60.74 on Friday. The stock has a market cap of $6.61 billion, a PE ratio of 433.86 and a beta of 1.30. The company has a quick ratio of 2.54, a current ratio of 2.96 and a debt-to-equity ratio of 0.11. Helmerich & Payne, Inc. has a twelve month low of $56.72 and a twelve month high of $75.02.

Helmerich & Payne (NYSE:HP) last issued its quarterly earnings data on Thursday, November 15th. The oil and gas company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. The firm had revenue of $696.83 million during the quarter, compared to analyst estimates of $683.89 million. Helmerich & Payne had a return on equity of 0.41% and a net margin of 19.41%. Analysts anticipate that Helmerich & Payne, Inc. will post 1.74 earnings per share for the current fiscal year.

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

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