Helmerich & Payne, Inc. $HP Shares Bought by AQR Capital Management LLC

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 position in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 147.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Ellis Investment Partners LLC increased its holdings in Helmerich & Payne by 4.5% during the first quarter. Ellis Investment Partners LLC now owns 12,999 shares of the oil and gas company's stock valued at $340,000 after buying an additional 558 shares during the period. Ridgewood Investments LLC increased its holdings in Helmerich & Payne by 4.4% during the first quarter. Ridgewood Investments LLC now owns 13,385 shares of the oil and gas company's stock valued at $350,000 after buying an additional 569 shares during the period. Xponance Inc. increased its holdings in Helmerich & Payne by 7.6% during 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. Versant Capital Management Inc increased its holdings in Helmerich & Payne by 104.2% during the first quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company's stock valued at $44,000 after buying an additional 867 shares during the period. Finally, Lmcg Investments LLC increased its holdings in Helmerich & Payne by 0.8% during the first quarter. Lmcg Investments LLC now owns 120,164 shares of the oil and gas company's stock valued at $3,139,000 after buying an additional 931 shares during the period. Institutional investors own 96.05% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HP. The Goldman Sachs Group decreased their target price on shares of Helmerich & Payne from $25.00 to $17.00 and set a "sell" rating for the company in a research report on Tuesday, June 24th. Barclays decreased 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 research report on Friday, June 20th. Royal Bank Of Canada boosted their target price on shares of Helmerich & Payne from $23.00 to $24.00 and gave the company a "sector perform" rating in a research report on Friday, August 8th. Susquehanna decreased their target price on shares of Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating for the company in a research report on Tuesday, July 1st. Finally, TD Cowen boosted their target price on shares of Helmerich & Payne from $26.00 to $27.00 and gave the company a "hold" rating in a research report on Tuesday, August 19th. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $22.20.

Helmerich & Payne Price Performance

Shares of HP stock traded down $0.87 on Wednesday, reaching $20.90. 1,545,394 shares of the company were exchanged, compared to its average volume of 1,711,837. The company has a market cap of $2.08 billion, a price-to-earnings ratio of -63.34 and a beta of 0.95. The business has a 50-day moving average price of $18.12 and a 200 day moving average price of $19.21. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.43 and a current ratio of 1.84. Helmerich & Payne, Inc. has a 1 year low of $14.65 and a 1 year high of $37.46.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its earnings results on Wednesday, August 6th. The oil and gas company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.02. The business had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1 billion. Helmerich & Payne had a negative net margin of 0.90% and a positive return on equity of 5.81%. The company's quarterly revenue was up 49.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.92 earnings per share. 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 firm 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 $0.25 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $1.00 dividend on an annualized basis and a yield of 4.8%. Helmerich & Payne's dividend payout ratio is presently -303.03%.

Insider Buying and Selling

In other Helmerich & Payne news, CAO Sara Marie Momper sold 6,700 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $17.83, for a total value of $119,461.00. Following the completion of the sale, the chief accounting officer owned 21,908 shares in the company, valued at approximately $390,619.64. This represents a 23.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.