Profit Investment Management LLC Sells 29,634 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Profit Investment Management LLC lowered its stake in Helmerich & Payne, Inc. (NYSE:HP) by 29.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,915 shares of the oil and gas company’s stock after selling 29,634 shares during the period. Helmerich & Payne makes up approximately 1.7% of Profit Investment Management LLC’s holdings, making the stock its 21st largest holding. Profit Investment Management LLC owned about 0.07% of Helmerich & Payne worth $2,127,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in shares of Helmerich & Payne in the 1st quarter worth approximately $33,000. Hexagon Capital Partners LLC raised its stake in Helmerich & Payne by 514.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 787 shares during the last quarter. Covestor Ltd raised its stake in Helmerich & Payne by 253.4% during the 1st quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 674 shares during the last quarter. Whittier Trust Co. raised its stake in Helmerich & Payne by 94.9% during the 1st quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 595 shares during the last quarter. Finally, Creekmur Asset Management LLC purchased a new stake in Helmerich & Payne during the 4th quarter valued at $60,000. 96.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HP has been the subject of several analyst reports. The Goldman Sachs Group reduced their price objective on Helmerich & Payne from $38.00 to $34.00 and set a “sell” rating for the company in a research note on Thursday, August 29th. Bank of America dropped their price objective on shares of Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating for the company in a report on Monday, July 15th. Evercore ISI upgraded shares of Helmerich & Payne to a “strong-buy” rating in a research report on Friday, July 26th. Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research report on Monday, August 5th. Finally, Citigroup reduced their price objective on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a research report on Friday, September 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.88.

Helmerich & Payne Stock Up 1.5 %

Shares of HP traded up $0.54 during trading on Friday, reaching $35.67. The company’s stock had a trading volume of 115,924 shares, compared to its average volume of 1,377,198. The company has a fifty day moving average of $32.76 and a two-hundred day moving average of $36.48. Helmerich & Payne, Inc. has a twelve month low of $29.46 and a twelve month high of $44.80. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 3.80 and a beta of 1.42. The company has a quick ratio of 1.87, a current ratio of 2.12 and a debt-to-equity ratio of 0.19.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.15. Helmerich & Payne had a return on equity of 12.39% and a net margin of 12.72%. The company had revenue of $697.70 million during the quarter, compared to analysts’ expectations of $670.78 million. During the same quarter in the prior year, the business posted $1.09 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, sell-side analysts predict that Helmerich & Payne, Inc. will post 3.48 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Monday, November 18th. Helmerich & Payne’s dividend payout ratio (DPR) is presently 28.99%.

Helmerich & Payne Company Profile

Founded in 1920, Helmerich & Payne, Inc (H&P) (NYSE: HP) is committed to delivering industry leading levels of drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for its customers and returns for shareholders.