Allianz Asset Management GmbH Acquires 14,885 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Key Points

• Allianz Asset Management GmbH increased its stake in Helmerich & Payne, acquiring 14,885 shares and bringing its total ownership to 99,353 shares.
• Helmerich & Payne reported a disappointing earnings per share of $0.02, significantly below analysts' expectations of $0.65, despite a 47.7% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.25 per share, yielding 5.80%, with an ex-dividend date of August 15th.

Allianz Asset Management GmbH lifted its stake in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 17.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 99,353 shares of the oil and gas company's stock after purchasing an additional 14,885 shares during the quarter. Allianz Asset Management GmbH owned 0.10% of Helmerich & Payne worth $2,595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Victory Capital Management Inc. raised its position in Helmerich & Payne by 28.4% during the first quarter. Victory Capital Management Inc. now owns 3,553,181 shares of the oil and gas company's stock valued at $92,809,000 after acquiring an additional 786,250 shares in the last quarter. Earnest Partners LLC raised its position in Helmerich & Payne by 1.0% during the fourth quarter. Earnest Partners LLC now owns 3,487,019 shares of the oil and gas company's stock valued at $111,654,000 after acquiring an additional 35,013 shares in the last quarter. Northern Trust Corp raised its position in Helmerich & Payne by 5.1% during the fourth quarter. Northern Trust Corp now owns 1,699,388 shares of the oil and gas company's stock valued at $54,414,000 after acquiring an additional 82,254 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Helmerich & Payne by 9.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,270,321 shares of the oil and gas company's stock valued at $40,676,000 after acquiring an additional 109,035 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in Helmerich & Payne during the fourth quarter valued at approximately $28,708,000. 96.05% of the stock is owned by hedge funds and other institutional investors.

Helmerich & Payne Stock Performance

Shares of NYSE HP traded down $0.55 during mid-day trading on Friday, hitting $15.66. The company had a trading volume of 2,576,828 shares, compared to its average volume of 1,791,932. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.68 and a quick ratio of 1.32. The business's 50-day simple moving average is $16.52 and its 200-day simple moving average is $21.81. Helmerich & Payne, Inc. has a 12 month low of $14.65 and a 12 month high of $37.81. The firm has a market cap of $1.56 billion, a P/E ratio of 7.15 and a beta of 0.87.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.65 by ($0.63). Helmerich & Payne had a return on equity of 8.25% and a net margin of 7.15%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $961.03 million. During the same quarter in the prior year, the firm earned $0.84 EPS. The firm's quarterly revenue was up 47.7% on a year-over-year basis. As a group, analysts predict that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 6.4%. Helmerich & Payne's payout ratio is currently 45.66%.

Wall Street Analyst Weigh In

Several equities analysts have commented on HP shares. JPMorgan Chase & Co. lowered their price target on Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Morgan Stanley lowered their price target on Helmerich & Payne from $27.00 to $20.00 and set an "underweight" rating on the stock in a report on Friday, May 16th. Susquehanna lowered their price target on Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating on the stock in a report on Tuesday, July 1st. Barclays lowered their price target on Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating on the stock in a report on Friday, June 20th. Finally, TD Cowen lowered their price target on Helmerich & Payne from $28.00 to $26.00 and set a "hold" rating on the stock in a report on Friday, May 9th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $23.10.

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.