Victory Capital Management Inc. Reduces Stock Holdings in Helmerich & Payne, Inc. (NYSE:HP)

Posted by on Nov 3rd, 2023

Victory Capital Management Inc. trimmed its position in Helmerich & Payne, Inc. (NYSE:HP – Free Report) by 38.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,950 shares of the oil and gas company’s stock after selling 11,149 shares during the period. Victory Capital Management Inc.’s holdings in Helmerich & Payne were worth $636,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Rockefeller Capital Management L.P. lifted its position in shares of Helmerich & Payne by 221.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 533 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 367 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in shares of Helmerich & Payne during the 1st quarter valued at about $31,000. Quarry LP purchased a new position in shares of Helmerich & Payne during the 1st quarter valued at about $43,000. Coppell Advisory Solutions Corp. purchased a new position in shares of Helmerich & Payne during the 4th quarter valued at about $45,000. Finally, Park Place Capital Corp bought a new stake in Helmerich & Payne during the 1st quarter valued at approximately $48,000. 96.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Raymond John Adams III sold 2,500 shares of the business’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $45.00, for a total transaction of $112,500.00. Following the completion of the transaction, the senior vice president now owns 69,025 shares in the company, valued at approximately $3,106,125. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Hans Helmerich sold 25,627 shares of the business’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $42.46, for a total transaction of $1,088,122.42. Following the completion of the transaction, the director now owns 1,340,288 shares in the company, valued at approximately $56,908,628.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Raymond John Adams III sold 2,500 shares of the business’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $45.00, for a total value of $112,500.00. Following the transaction, the senior vice president now owns 69,025 shares of the company’s stock, valued at approximately $3,106,125. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,127 shares of company stock valued at $1,455,502. 4.16% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Benchmark raised Helmerich & Payne from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Royal Bank of Canada downgraded Helmerich & Payne from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $53.00 to $45.00 in a research note on Monday, July 10th. The Goldman Sachs Group lifted their target price on Helmerich & Payne from $33.00 to $37.00 and gave the company a “sell” rating in a research note on Wednesday, August 9th. Piper Sandler lifted their target price on Helmerich & Payne from $45.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, July 31st. Finally, Morgan Stanley lifted their price objective on Helmerich & Payne from $42.00 to $44.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $49.64.

Check Out Our Latest Analysis on HP

Helmerich & Payne Stock Performance

NYSE HP opened at $41.10 on Friday. The company has a market cap of $4.09 billion, a P/E ratio of 10.79 and a beta of 1.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.06 and a current ratio of 2.29. The business’s 50 day moving average price is $42.05 and its 200-day moving average price is $38.45. Helmerich & Payne, Inc. has a fifty-two week low of $30.41 and a fifty-two week high of $54.45.

Helmerich & Payne Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Monday, November 20th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Friday, November 17th. Helmerich & Payne’s dividend payout ratio is currently 26.25%.

Helmerich & Payne Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Helmerich & Payne (NYSE:HP)

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