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

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Summit Investment Advisors Inc. grew its holdings in shares of Helmerich & Payne by 4.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,113 shares of the oil and gas company's stock valued at $324,000 after buying an additional 395 shares during the period. LPL Financial LLC lifted its position in shares of Helmerich & Payne by 1.9% during the 4th quarter. LPL Financial LLC now owns 21,763 shares of the oil and gas company's stock valued at $697,000 after acquiring an additional 408 shares during the period. Ellis Investment Partners LLC lifted its position in shares of Helmerich & Payne by 4.5% during the 1st quarter. Ellis Investment Partners LLC now owns 12,999 shares of the oil and gas company's stock worth $340,000 after buying an additional 558 shares during the last quarter. Xponance Inc. lifted its position in shares of Helmerich & Payne by 7.6% during the 1st quarter. Xponance Inc. now owns 8,294 shares of the oil and gas company's stock worth $217,000 after buying an additional 587 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in Helmerich & Payne by 104.2% in the 1st quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company's stock worth $44,000 after purchasing an additional 867 shares in the last quarter. 96.05% of the stock is owned by institutional investors.

Helmerich & Payne Price Performance

NYSE HP traded down $0.70 during mid-day trading on Wednesday, hitting $16.53. The stock had a trading volume of 2,170,865 shares, compared to its average volume of 1,723,307. The firm's 50 day moving average is $16.50 and its 200 day moving average is $22.07. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of 7.55 and a beta of 0.82. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.68 and a quick ratio of 1.32. Helmerich & Payne, Inc. has a twelve month low of $14.65 and a twelve month high of $40.84.

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

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued 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 6.05%. Helmerich & Payne's payout ratio is currently 45.66%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Citigroup restated a "neutral" rating and set a $17.00 price objective (down previously from $19.00) on shares of Helmerich & Payne in a report on Thursday, June 26th. Piper Sandler started coverage on shares of Helmerich & Payne in a report on Monday, July 14th. They issued a "neutral" rating and a $20.00 price target on the stock. The Goldman Sachs Group cut their price objective on shares of Helmerich & Payne from $25.00 to $17.00 and set a "sell" rating on the stock in a report on Tuesday, June 24th. Wall Street Zen downgraded shares of Helmerich & Payne from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Barclays reduced their target price on shares of Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating for the company in a report on Friday, June 20th. 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's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $23.10.

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.