Van ECK Associates Corp Sells 279,801 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Van ECK Associates Corp decreased its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 19.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,192,410 shares of the oil and gas company’s stock after selling 279,801 shares during the period. Van ECK Associates Corp owned about 1.21% of Helmerich & Payne worth $40,220,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its position in shares of Helmerich & Payne by 38.1% during the 2nd quarter. American Century Companies Inc. now owns 1,862,362 shares of the oil and gas company’s stock worth $67,306,000 after buying an additional 513,647 shares during the period. Earnest Partners LLC lifted its holdings in shares of Helmerich & Payne by 15.7% during the second quarter. Earnest Partners LLC now owns 3,469,609 shares of the oil and gas company’s stock valued at $125,392,000 after acquiring an additional 471,420 shares during the period. LSV Asset Management boosted its stake in shares of Helmerich & Payne by 51.7% in the 2nd quarter. LSV Asset Management now owns 1,189,318 shares of the oil and gas company’s stock valued at $42,982,000 after purchasing an additional 405,179 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Helmerich & Payne by 9.4% in the 2nd quarter. Pacer Advisors Inc. now owns 3,826,851 shares of the oil and gas company’s stock worth $138,302,000 after purchasing an additional 327,802 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Helmerich & Payne by 120.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 367,100 shares of the oil and gas company’s stock worth $13,267,000 after purchasing an additional 200,700 shares during the last quarter. 96.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HP has been the topic of a number of recent analyst reports. Piper Sandler reduced their price target on shares of Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Royal Bank of Canada increased their price target on Helmerich & Payne from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Friday, July 26th. Bank of America cut their price objective on Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Evercore ISI upgraded Helmerich & Payne to a “strong-buy” rating in a report on Friday, July 26th. Finally, Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Helmerich & Payne has a consensus rating of “Hold” and a consensus target price of $40.29.

Helmerich & Payne Price Performance

Helmerich & Payne stock opened at $32.93 on Monday. The business’s 50-day simple moving average is $32.83 and its 200 day simple moving average is $35.54. The company has a quick ratio of 1.87, a current ratio of 2.12 and a debt-to-equity ratio of 0.19. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 9.54, a P/E/G ratio of 3.56 and a beta of 1.40. Helmerich & Payne, Inc. has a 12-month low of $29.46 and a 12-month high of $44.11.

Helmerich & Payne Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Monday, November 18th. Helmerich & Payne’s dividend payout ratio is 28.99%.

Helmerich & Payne 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.