AQR Capital Management LLC Buys 151,413 Shares of Helmerich & Payne, Inc. $HP

Key Points

• AQR Capital Management LLC increased its stake in Helmerich & Payne by 147.4%, now holding 254,119 shares worth approximately $6.6 million.
• Several other institutional investors also boosted their positions, with notable increases from Principal Financial Group (3.3%) and Grace & White Inc. (40.8%).
• Helmerich & Payne recently reported $1.04 billion in revenue for the quarter, significantly surpassing analyst expectations, along with a declaration of a quarterly dividend of $0.25.

AQR Capital Management LLC boosted its holdings in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 147.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 254,119 shares of the oil and gas company's stock after purchasing an additional 151,413 shares during the period. AQR Capital Management LLC owned approximately 0.26% of Helmerich & Payne worth $6,638,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in HP. Principal Financial Group Inc. increased its position in Helmerich & Payne by 3.3% in the first quarter. Principal Financial Group Inc. now owns 494,813 shares of the oil and gas company's stock worth $12,925,000 after buying an additional 15,990 shares in the last quarter. Grace & White Inc. NY raised its stake in shares of Helmerich & Payne by 40.8% during the 1st quarter. Grace & White Inc. NY now owns 113,342 shares of the oil and gas company's stock valued at $2,960,000 after buying an additional 32,856 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Helmerich & Payne by 26.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 468,757 shares of the oil and gas company's stock worth $12,422,000 after acquiring an additional 97,388 shares in the last quarter. GAMMA Investing LLC lifted 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 worth $83,000 after buying an additional 1,459 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Helmerich & Payne by 25.6% in the fourth quarter. Janus Henderson Group PLC now owns 93,720 shares of the oil and gas company's stock valued at $3,001,000 after purchasing an additional 19,130 shares during the period. Institutional investors own 96.05% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on HP shares. The Goldman Sachs Group dropped their price objective on Helmerich & Payne from $25.00 to $17.00 and set a "sell" rating on the stock in a report on Tuesday, June 24th. Barclays decreased their price target on shares of Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Friday, June 20th. Piper Sandler upped their price objective on shares of Helmerich & Payne from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Thursday, August 14th. Royal Bank Of Canada lifted their price target on shares of Helmerich & Payne from $23.00 to $24.00 and gave the stock a "sector perform" rating in a research note on Friday, August 8th. Finally, TD Cowen boosted their target price on shares of Helmerich & Payne from $26.00 to $27.00 and gave the stock a "hold" rating in a research report on Tuesday, August 19th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $22.20.

Insider Transactions at Helmerich & Payne

In other Helmerich & Payne news, CAO Sara Marie Momper sold 6,700 shares of the firm's 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 owned 21,908 shares in the company, valued at approximately $390,619.64. This trade represents a 23.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.51% of the company's stock.

Helmerich & Payne Stock Down 0.5%

NYSE:HP traded down $0.11 on Monday, hitting $20.97. 1,533,090 shares of the company's stock traded hands, compared to its average volume of 1,983,630. Helmerich & Payne, Inc. has a 1 year low of $14.65 and a 1 year high of $37.46. The firm has a 50-day moving average price of $17.85 and a 200-day moving average price of $19.22. The company has a current ratio of 1.84, a quick ratio of 1.43 and a debt-to-equity ratio of 0.76. The company has a market cap of $2.09 billion, a PE ratio of -63.55 and a beta of 0.95.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share (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 company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the company posted $0.92 EPS. The firm's revenue was up 49.2% on a year-over-year basis. Equities analysts anticipate that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Tuesday, November 18th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Tuesday, November 18th. Helmerich & Payne's payout ratio is currently -303.03%.

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.