Allspring Global Investments Holdings LLC Sells 230,103 Shares of Helmerich & Payne, Inc. $HP

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Helmerich & Payne, Inc. by 49.1%, selling 230,103 shares for a total ownership of approximately 0.24%, valued at $3,799,000.
• The latest dividend announced is $0.25 per share, to be paid on December 2nd, representing a 4.2% dividend yield.
• Helmerich & Payne's stock price opened at $23.59, with a 52-week low of $14.65 and a high of $37.46, amid positive earnings with $1.04 billion in revenue reported for the last quarter.

Allspring Global Investments Holdings LLC reduced its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 49.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 238,654 shares of the oil and gas company's stock after selling 230,103 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.24% of Helmerich & Payne worth $3,799,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Quarry LP bought a new stake in shares of Helmerich & Payne in the first quarter valued at $81,000. GAMMA Investing LLC raised its stake in shares of Helmerich & Payne by 85.4% in the first quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company's stock valued at $83,000 after buying an additional 1,459 shares during the period. State of Wyoming raised its stake in shares of Helmerich & Payne by 102.2% in the first quarter. State of Wyoming now owns 5,543 shares of the oil and gas company's stock valued at $145,000 after buying an additional 2,801 shares during the period. CWM LLC raised its stake in shares of Helmerich & Payne by 37.8% in the first quarter. CWM LLC now owns 5,671 shares of the oil and gas company's stock valued at $148,000 after buying an additional 1,555 shares during the period. Finally, Xponance Inc. raised its stake in shares of Helmerich & Payne by 7.6% in the first quarter. Xponance Inc. now owns 8,294 shares of the oil and gas company's stock valued at $217,000 after buying an additional 587 shares during the period. 96.05% of the stock is currently owned by institutional investors.

Helmerich & Payne Price Performance

Helmerich & Payne stock opened at $23.59 on Tuesday. Helmerich & Payne, Inc. has a 52 week low of $14.65 and a 52 week high of $37.46. The business has a 50-day simple moving average of $21.00 and a 200 day simple moving average of $18.72. The company has a quick ratio of 1.43, a current ratio of 1.84 and a debt-to-equity ratio of 0.76. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of -71.47 and a beta of 0.91.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its earnings results on Wednesday, August 6th. The oil and gas company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. Helmerich & Payne had a positive return on equity of 5.81% and a negative net margin of 0.90%.The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1 billion. During the same period in the previous year, the business earned $0.92 earnings per share. The firm's revenue was up 49.2% on a year-over-year basis. On average, research analysts forecast that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Tuesday, November 18th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, November 18th. This represents a $1.00 annualized dividend and a dividend yield of 4.2%. Helmerich & Payne's dividend payout ratio is -303.03%.

Wall Street Analysts Forecast Growth

HP has been the topic of several research reports. The Goldman Sachs Group boosted their target price on Helmerich & Payne from $18.00 to $20.00 and gave the company a "sell" rating in a research note on Monday, October 6th. Royal Bank Of Canada boosted their target price on Helmerich & Payne from $23.00 to $24.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. Citigroup lifted their price target on Helmerich & Payne from $17.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, October 8th. TD Cowen lifted their price target on Helmerich & Payne from $26.00 to $27.00 and gave the company a "hold" rating in a research report on Tuesday, August 19th. Finally, Susquehanna reduced their price target on Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating for the company in a research report on Tuesday, July 1st. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $24.20.

Insider Activity at Helmerich & Payne

In other news, CAO Sara Marie Momper sold 6,700 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $17.83, for a total transaction of $119,461.00. Following the transaction, the chief accounting officer directly owned 21,908 shares in the company, valued at approximately $390,619.64. This represents a 23.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.51% of the company's stock.

About Helmerich & Payne

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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