Alpha Wealth Funds LLC Makes New Investment in Helmerich & Payne, Inc. $HP

Key Points

• Alpha Wealth Funds LLC recently acquired a new stake in Helmerich & Payne, purchasing 11,700 shares valued at approximately $180,000.
• According to recent analyst reports, Helmerich & Payne has been rated with a consensus "Reduce" rating and a target price of $24.20.
• The company has declared a quarterly dividend of $0.25 per share, set to be paid on December 2nd, which represents an annual yield of 4.3%.

Alpha Wealth Funds LLC bought a new position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 11,700 shares of the oil and gas company's stock, valued at approximately $180,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its stake in shares of Helmerich & Payne by 28.4% in the 1st 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 purchasing an additional 786,250 shares during the period. Invesco Ltd. lifted its stake in shares of Helmerich & Payne by 24.7% in the 1st quarter. Invesco Ltd. now owns 2,704,134 shares of the oil and gas company's stock valued at $70,632,000 after purchasing an additional 535,808 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of Helmerich & Payne in the 1st quarter valued at about $10,635,000. American Century Companies Inc. lifted its stake in shares of Helmerich & Payne by 12.2% in the 1st quarter. American Century Companies Inc. now owns 2,983,840 shares of the oil and gas company's stock valued at $77,938,000 after purchasing an additional 325,484 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Helmerich & Payne in the 1st quarter valued at about $6,486,000. 96.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HP has been the topic of a number of recent analyst reports. Barclays set a $25.00 price objective on Helmerich & Payne and gave the company an "overweight" rating in a research note on Monday, September 22nd. Royal Bank Of Canada boosted their price objective 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. Zacks Research raised Helmerich & Payne to a "hold" rating in a research note on Monday, August 11th. TD Cowen boosted their price objective on Helmerich & Payne from $26.00 to $27.00 and gave the company a "hold" rating in a research note on Tuesday, August 19th. Finally, Susquehanna dropped their price objective on Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating on the stock in a research note on Tuesday, July 1st. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Helmerich & Payne currently has a consensus rating of "Reduce" and a consensus target price of $24.20.

Helmerich & Payne Stock Performance

Shares of Helmerich & Payne stock opened at $23.13 on Friday. Helmerich & Payne, Inc. has a one year low of $14.65 and a one year high of $37.46. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of -70.09 and a beta of 0.91. The business has a 50-day simple moving average of $20.88 and a 200 day simple moving average of $18.72. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.43.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued its earnings results on Wednesday, August 6th. The oil and gas company reported $0.22 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $1 billion. During the same period in the previous year, the company posted $0.92 EPS. The firm's revenue was up 49.2% compared to the same quarter last year. On average, research analysts anticipate that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Tuesday, November 18th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, November 18th. This represents a $1.00 dividend on an annualized basis and a yield of 4.3%. Helmerich & Payne's payout ratio is -303.03%.

Insider Transactions at Helmerich & Payne

In other Helmerich & Payne news, CAO Sara Marie Momper sold 6,700 shares of Helmerich & Payne 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 completion of the transaction, the chief accounting officer owned 21,908 shares in the company, valued at approximately $390,619.64. The trade was a 23.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.51% of the company's stock.

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.

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