The Fruth Investment Management Sells 1,000 Shares of Helmerich & Payne, Inc. (HP)

The Fruth Investment Management Sells 1,000 Shares of Helmerich & Payne, Inc. (HP)

A number of other hedge funds also recently made changes to their positions in the stock. Capital World Investors boosted its stake in shares of Helmerich & Payne by 6.5% in the third quarter. Capital World Investors now owns 7,919,050 shares of the oil and gas company’s stock valued at $532,952,000 after buying an additional 486,400 shares during the period. American International Group Inc. boosted its stake in Helmerich & Payne by 4.8% in the third quarter. American International Group Inc. now owns 6,839,444 shares of the oil and gas company’s stock worth $460,295,000 after buying an additional 313,165 shares during the last quarter. State Street Corp boosted its stake in Helmerich & Payne by 5.3% in the fourth quarter. State Street Corp now owns 5,927,018 shares of the oil and gas company’s stock worth $458,755,000 after buying an additional 295,670 shares during the last quarter. BlackRock Fund Advisors boosted its stake in Helmerich & Payne by 3.4% in the third quarter. BlackRock Fund Advisors now owns 5,856,725 shares of the oil and gas company’s stock worth $394,158,000 after buying an additional 191,903 shares during the last quarter. Finally, Capital International Investors boosted its stake in Helmerich & Payne by 17.8% in the third quarter. Capital International Investors now owns 4,390,215 shares of the oil and gas company’s stock worth $295,461,000 after buying an additional 664,100 shares during the last quarter.

Fruth Investment Management lowered its stake in Helmerich & Payne, Inc. (NYSE:HP) by 5.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,300 shares of the oil and gas company’s stock after selling 1,000 shares during the period. Fruth Investment Management’s holdings in Helmerich & Payne were worth $1,085,000 as of its most recent filing with the SEC.

Shares of Helmerich & Payne, Inc. (NYSE:HP) opened at 58.05 on Friday. The firm has a 50-day moving average price of $65.36 and a 200-day moving average price of $70.24. The stock’s market cap is $6.30 billion. Helmerich & Payne, Inc. has a 12 month low of $56.19 and a 12 month high of $85.78.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Thursday, April 27th. The oil and gas company reported ($0.47) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.40) by $0.07. Helmerich & Payne had a negative net margin of 7.17% and a negative return on equity of 3.34%. The firm had revenue of $405.30 million for the quarter, compared to analyst estimates of $386.83 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The firm’s revenue was down 7.5% compared to the same quarter last year. Equities analysts expect that Helmerich & Payne, Inc. will post ($1.31) EPS for the current fiscal year. The company also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Friday, May 19th will be issued a dividend of $0.70 per share. The ex-dividend date is Wednesday, May 17th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.82%. Helmerich & Payne’s dividend payout ratio is currently -274.51%.

A number of analysts have commented on the company. SunTrust Banks, Inc. assumed coverage on Helmerich & Payne in a research report on Wednesday, January 18th. They set a “buy” rating and a $70.00 price target for the company. Zacks Investment Research raised Helmerich & Payne from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Tuesday, January 17th. Argus raised Helmerich & Payne from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research report on Monday, January 9th. Bank of America Corp raised Helmerich & Payne from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $82.00 to $79.00 in a research report on Friday, February 24th. Finally, Guggenheim upgraded Helmerich & Payne from a “neutral” rating to a “buy” rating in a research note on Monday, April 3rd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $70.10. In related news, Director Thomas A. Petrie acquired 1,990 shares of the company’s stock in a transaction on Friday, March 10th. The shares were purchased at an average price of $67.17 per share, for a total transaction of $133,668.30. Following the purchase, the director now owns 8,583 shares in the company, valued at $576,520.11. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.23% of the stock is currently owned by corporate insiders.

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.

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