Bessemer Group Inc. reduced its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 1.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 27,467 shares of the oil and gas company’s stock after selling 465 shares during the period. Bessemer Group Inc.’s holdings in Helmerich & Payne were worth $1,493,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. CIBC Asset Management Inc boosted its stake in Helmerich & Payne by 0.4% in the second quarter. CIBC Asset Management Inc now owns 11,126 shares of the oil and gas company’s stock valued at $605,000 after buying an additional 41 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in Helmerich & Payne by 13.8% in the second quarter. Kornitzer Capital Management Inc. KS now owns 227,415 shares of the oil and gas company’s stock valued at $12,358,000 after buying an additional 27,534 shares in the last quarter. American Research & Management Co. boosted its stake in Helmerich & Payne by 10.1% in the second quarter. American Research & Management Co. now owns 22,260 shares of the oil and gas company’s stock valued at $1,210,000 after buying an additional 2,050 shares in the last quarter. Mraz Amerine & Associates Inc. boosted its stake in Helmerich & Payne by 1.5% in the second quarter. Mraz Amerine & Associates Inc. now owns 36,400 shares of the oil and gas company’s stock valued at $1,978,000 after buying an additional 550 shares in the last quarter. Finally, Sumitomo Life Insurance Co. boosted its stake in Helmerich & Payne by 4.4% in the second quarter. Sumitomo Life Insurance Co. now owns 14,943 shares of the oil and gas company’s stock valued at $812,000 after buying an additional 630 shares in the last quarter.

Shares of Helmerich & Payne, Inc. (NYSE:HP) opened at 46.18 on Friday. The firm’s market capitalization is $5.01 billion. Helmerich & Payne, Inc. has a 52 week low of $46.00 and a 52 week high of $85.78. The stock has a 50 day moving average price of $52.55 and a 200 day moving average price of $60.88.

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a dividend of $0.70 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.80 dividend on an annualized basis and a yield of 6.06%. Helmerich & Payne’s dividend payout ratio (DPR) is -167.66%.

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Several equities research analysts recently commented on the company. Cowen and Company reaffirmed a “hold” rating and issued a $50.00 price target on shares of Helmerich & Payne in a report on Friday. Evercore ISI reiterated an “in-line” rating and issued a $48.00 price objective (down from $65.00) on shares of Helmerich & Payne in a research report on Tuesday, August 1st. Iberia Capital lowered Helmerich & Payne from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $74.00 to $55.00 in a research report on Monday, July 31st. UBS AG reiterated a “buy” rating and issued a $60.00 price objective (down from $84.00) on shares of Helmerich & Payne in a research report on Monday, July 31st. Finally, BidaskClub lowered Helmerich & Payne from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Seven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $56.77.

About Helmerich & Payne

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

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