Helmerich & Payne, Inc. (NYSE:HP) Shares Sold by State of Alaska Department of Revenue (2024)

Posted by MarketBeat News on Jul 7th, 2024

State of Alaska Department of Revenue lessened its holdings in Helmerich & Payne, Inc. (NYSE:HP – Free Report) by 1.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 60,219 shares of the oil and gas company’s stock after selling 949 shares during the period. State of Alaska Department of Revenue’s holdings in Helmerich & Payne were worth $2,532,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Principal Securities Inc. acquired a new position in shares of Helmerich & Payne in the 4th quarter valued at about $35,000. Hexagon Capital Partners LLC lifted its holdings in Helmerich & Payne by 514.4% in the first quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 787 shares during the period. Creekmur Asset Management LLC purchased a new stake in Helmerich & Payne in the 4th quarter worth approximately $60,000. GAMMA Investing LLC acquired a new stake in shares of Helmerich & Payne during the 4th quarter worth approximately $73,000. Finally, Neo Ivy Capital Management acquired a new stake in shares of Helmerich & Payne during the 4th quarter worth approximately $176,000. 96.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Helmerich & Payne

In other news, CFO Mark W. Smith sold 16,000 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $40.49, for a total transaction of $647,840.00. Following the completion of the sale, the chief financial officer now owns 144,870 shares of the company’s stock, valued at $5,865,786.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Cara M. Hair sold 9,910 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $40.22, for a total value of $398,580.20. Following the completion of the sale, the senior vice president now owns 137,764 shares of the company’s stock, valued at $5,540,868.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Mark W. Smith sold 16,000 shares of Helmerich & Payne stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $40.49, for a total value of $647,840.00. Following the transaction, the chief financial officer now owns 144,870 shares in the company, valued at approximately $5,865,786.30. The disclosure for this sale can be found here. 4.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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HP has been the subject of several analyst reports. Benchmark reiterated a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, April 25th. Citigroup upped their price objective on shares of Helmerich & Payne from $40.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Susquehanna dropped their target price on Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating on the stock in a research report on Friday, April 26th. Finally, Piper Sandler reduced their price target on Helmerich & Payne from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $42.29.

Read Our Latest Report on HP

Helmerich & Payne Stock Down 1.9 %

HP stock opened at $35.35 on Friday. Helmerich & Payne, Inc. has a 52 week low of $32.17 and a 52 week high of $46.55. The company has a quick ratio of 1.92, a current ratio of 2.16 and a debt-to-equity ratio of 0.19. The firm has a 50-day simple moving average of $36.59 and a 200-day simple moving average of $37.94. The stock has a market capitalization of $3.49 billion, a P/E ratio of 10.10, a P/E/G ratio of 3.97 and a beta of 1.47.

Helmerich & Payne Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.83%. The ex-dividend date is Friday, August 16th. Helmerich & Payne’s dividend payout ratio is currently 28.57%.

About Helmerich & Payne

(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.