Atria Investments LLC Reduces Holdings in Helmerich & Payne, Inc. (HP)
Atria Investments LLC cut its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 25.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,911 shares of the oil and gas company’s stock after selling 9,657 shares during the quarter. Atria Investments LLC’s holdings in Helmerich & Payne were worth $1,919,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of HP. Summit Trail Advisors LLC raised its holdings in Helmerich & Payne by 8,098.5% during the 1st quarter. Summit Trail Advisors LLC now owns 109,368 shares of the oil and gas company’s stock worth $109,000 after buying an additional 108,034 shares during the period. Flagship Harbor Advisors LLC purchased a new position in Helmerich & Payne during the 2nd quarter valued at about $134,000. Viking Fund Management LLC purchased a new position in Helmerich & Payne during the 2nd quarter valued at about $159,000. Rampart Investment Management Company LLC grew its stake in Helmerich & Payne by 84.3% during the 1st quarter. Rampart Investment Management Company LLC now owns 2,453 shares of the oil and gas company’s stock valued at $163,000 after acquiring an additional 1,122 shares in the last quarter. Finally, Independent Advisor Alliance purchased a new position in Helmerich & Payne during the 2nd quarter valued at about $207,000. Hedge funds and other institutional investors own 92.10% of the company’s stock.
Several equities analysts have weighed in on the company. Zacks Investment Research raised Helmerich & Payne from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a research note on Tuesday. Wolfe Research assumed coverage on Helmerich & Payne in a research note on Wednesday. They set an “underperform” rating on the stock. B. Riley set a $83.00 target price on Helmerich & Payne and gave the company a “buy” rating in a research note on Sunday, October 7th. Capital One Financial raised Helmerich & Payne from an “equal weight” rating to an “overweight” rating in a research note on Friday, October 5th. Finally, Morgan Stanley set a $71.00 target price on Helmerich & Payne and gave the company a “sell” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $72.29.
Shares of NYSE HP opened at $69.41 on Friday. The company has a market capitalization of $7.49 billion, a P/E ratio of -54.78 and a beta of 1.36. Helmerich & Payne, Inc. has a 52 week low of $50.64 and a 52 week high of $75.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.97 and a quick ratio of 2.57.
Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, July 25th. The oil and gas company reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.04). The firm had revenue of $648.87 million during the quarter, compared to the consensus estimate of $617.06 million. Helmerich & Payne had a net margin of 19.70% and a negative return on equity of 0.37%. The company’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.25) EPS. As a group, equities analysts forecast that Helmerich & Payne, Inc. will post 0.04 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 12th will be paid a $0.71 dividend. The ex-dividend date is Thursday, November 8th. This represents a $2.84 annualized dividend and a dividend yield of 4.09%. Helmerich & Payne’s payout ratio is -223.62%.
About Helmerich & Payne
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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