Helmerich & Payne, Inc. (HP) Stake Lessened by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. lowered its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 17.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,026 shares of the oil and gas company’s stock after selling 10,487 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Helmerich & Payne were worth $2,717,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. BT Investment Management Ltd acquired a new position in shares of Helmerich & Payne during the second quarter valued at about $577,000. Amalgamated Bank increased its holdings in shares of Helmerich & Payne by 199.3% during the second quarter. Amalgamated Bank now owns 20,919 shares of the oil and gas company’s stock valued at $1,137,000 after acquiring an additional 13,929 shares in the last quarter. BlackRock Inc. increased its holdings in Helmerich & Payne by 4.5% in the 2nd quarter. BlackRock Inc. now owns 11,459,741 shares of the oil and gas company’s stock worth $622,721,000 after buying an additional 492,673 shares during the period. Captrust Financial Advisors acquired a new position in Helmerich & Payne in the 2nd quarter worth approximately $913,000. Finally, Norinchukin Bank The increased its holdings in Helmerich & Payne by 6.8% in the 2nd quarter. Norinchukin Bank The now owns 7,534 shares of the oil and gas company’s stock worth $409,000 after buying an additional 480 shares during the period.
Helmerich & Payne, Inc. (HP) opened at 52.11 on Friday. The stock’s 50 day moving average price is $46.08 and its 200-day moving average price is $56.06. Helmerich & Payne, Inc. has a 12 month low of $42.16 and a 12 month high of $85.78. The stock’s market cap is $5.66 billion.
Helmerich & Payne (NYSE:HP) last announced its earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 company had revenue of $498.60 million for the quarter, compared to analysts’ expectations of $452.42 million. During the same period last year, the firm earned ($0.20) earnings per share. The business’s revenue for the quarter was up 36.0% on a year-over-year basis. Equities research analysts predict that Helmerich & Payne, Inc. will post ($1.30) EPS for the current year.
The firm also recently announced 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 is Friday, November 10th. This represents a $2.80 annualized dividend and a dividend yield of 5.37%. Helmerich & Payne’s dividend payout ratio is presently -167.66%.
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In other Helmerich & Payne news, CEO John W. Lindsay bought 5,000 shares of the stock in a transaction dated Tuesday, September 12th. The shares were bought at an average cost of $47.73 per share, with a total value of $238,650.00. Following the completion of the acquisition, the chief executive officer now owns 147,727 shares of the company’s stock, valued at $7,051,009.71. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.90% of the stock is currently owned by company insiders.
Several brokerages recently weighed in on HP. Royal Bank Of Canada set a $80.00 price target on shares of Helmerich & Payne and gave the stock a “hold” rating in a report on Saturday, July 1st. Cowen and Company reiterated a “hold” rating and issued a $50.00 price target on shares of Helmerich & Payne in a report on Friday, August 11th. UBS AG reiterated a “buy” rating and issued a $60.00 price target (down previously from $84.00) on shares of Helmerich & Payne in a report on Monday, July 31st. Jefferies Group LLC set a $54.00 price target on shares of Helmerich & Payne and gave the stock a “hold” rating in a report on Tuesday, June 6th. Finally, Citigroup Inc. downgraded shares of Helmerich & Payne from a “neutral” rating to a “sell” rating and cut their price target for the stock from $58.00 to $43.00 in a report on Friday, July 28th. Eight equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $57.32.
Helmerich & Payne 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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