Commerce Bank reduced its position in Helmerich & Payne, Inc. (NYSE:HP) by 34.1% during the 4th quarter, Holdings Channel reports. The firm owned 3,377 shares of the oil and gas company’s stock after selling 1,744 shares during the quarter. Commerce Bank’s holdings in Helmerich & Payne were worth $219,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. McCollum Christoferson Group LLC bought a new stake in shares of Helmerich & Payne during the 4th quarter worth about $209,000. IFM Investors Pty Ltd bought a new stake in shares of Helmerich & Payne during the 4th quarter worth about $215,000. Eads & Heald Investment Counsel bought a new stake in shares of Helmerich & Payne during the 4th quarter worth about $216,000. Sandy Spring Bank boosted its stake in shares of Helmerich & Payne by 36.7% during the 3rd quarter. Sandy Spring Bank now owns 3,540 shares of the oil and gas company’s stock worth $184,000 after acquiring an additional 950 shares in the last quarter. Finally, Greenleaf Trust bought a new stake in shares of Helmerich & Payne during the 4th quarter worth about $230,000.
Shares of Helmerich & Payne, Inc. (HP) opened at $66.56 on Wednesday. Helmerich & Payne, Inc. has a 52 week low of $42.16 and a 52 week high of $75.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.28 and a quick ratio of 2.89.
Helmerich & Payne (NYSE:HP) last announced its quarterly earnings data on Thursday, January 25th. The oil and gas company reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.14. Helmerich & Payne had a negative return on equity of 1.90% and a net margin of 20.30%. The company had revenue of $564.10 million during the quarter, compared to the consensus estimate of $547.64 million. During the same quarter last year, the company earned ($0.33) EPS. The company’s quarterly revenue was up 53.0% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Shareholders of record on Monday, February 12th were given a $0.70 dividend. The ex-dividend date was Friday, February 9th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 4.21%. Helmerich & Payne’s dividend payout ratio is currently 76.09%.
In other Helmerich & Payne news, Director Chapman Paula Marshall sold 2,555 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $57.80, for a total value of $147,679.00. Following the completion of the sale, the director now owns 12,525 shares in the company, valued at approximately $723,945. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.10% of the stock is currently owned by company insiders.
Several research firms have recently issued reports on HP. Sanford C. Bernstein downgraded Helmerich & Payne from an “outperform” rating to a “market perform” rating in a research note on Monday, January 29th. Jefferies Group reiterated a “hold” rating and set a $69.00 price target on shares of Helmerich & Payne in a research note on Thursday, January 25th. Cowen reiterated a “market perform” rating and set a $60.00 price target (up previously from $50.00) on shares of Helmerich & Payne in a research note on Friday, January 26th. Societe Generale upgraded Helmerich & Payne from a “hold” rating to a “buy” rating in a research note on Monday, January 29th. Finally, Zacks Investment Research downgraded Helmerich & Payne from a “buy” rating to a “hold” rating in a research note on Thursday, February 1st. Seven equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $57.40.
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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