Bryce Point Capital LLC Invests $908,000 in Helmerich & Payne, Inc. (NYSE:HP)

Key Points

• Bryce Point Capital LLC has purchased 34,796 shares of Helmerich & Payne, valued at approximately $908,000, indicating its confidence in the oil and gas company.
• Recent analyst reports show a mixed outlook, with Citigroup lowering its price target to $17.00 while three analysts have rated the stock as a sell, contributing to a consensus rating of "Hold."
• Helmerich & Payne declared a quarterly dividend of $0.25, with a dividend yield of 5.98%, reflecting the company's commitment to returning capital to shareholders.

Bryce Point Capital LLC acquired a new position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 34,796 shares of the oil and gas company's stock, valued at approximately $908,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Helmerich & Payne in the fourth quarter valued at approximately $2,788,000. Xponance Inc. bought a new position in shares of Helmerich & Payne in the fourth quarter valued at approximately $247,000. Virtu Financial LLC bought a new position in shares of Helmerich & Payne in the fourth quarter valued at approximately $257,000. Sei Investments Co. boosted its holdings in shares of Helmerich & Payne by 4.3% in the fourth quarter. Sei Investments Co. now owns 33,116 shares of the oil and gas company's stock valued at $1,060,000 after acquiring an additional 1,357 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Helmerich & Payne in the fourth quarter valued at approximately $644,000. Institutional investors and hedge funds own 96.05% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on HP. Wall Street Zen cut shares of Helmerich & Payne from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. JPMorgan Chase & Co. reduced their target price on shares of Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. TD Cowen reduced their price target on shares of Helmerich & Payne from $28.00 to $26.00 and set a "hold" rating for the company in a research report on Friday, May 9th. Citigroup restated a "neutral" rating and issued a $17.00 price target (down previously from $19.00) on shares of Helmerich & Payne in a research report on Thursday, June 26th. Finally, The Goldman Sachs Group reduced their price target 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. Three analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $23.10.

Helmerich & Payne Stock Down 1.9%

Shares of Helmerich & Payne stock traded down $0.32 during midday trading on Thursday, reaching $16.15. 1,592,389 shares of the company's stock traded hands, compared to its average volume of 1,933,268. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 7.39 and a beta of 0.82. The company's 50 day simple moving average is $16.50 and its 200 day simple moving average is $22.07. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.68. Helmerich & Payne, Inc. has a 52 week low of $14.65 and a 52 week high of $40.84.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.65 by ($0.63). The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $961.03 million. Helmerich & Payne had a net margin of 7.15% and a return on equity of 8.25%. The firm's revenue for the quarter was up 47.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.84 EPS. Equities analysts expect 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 Friday, August 29th. Shareholders of record on Friday, August 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.00 annualized dividend and a yield of 6.19%. Helmerich & Payne's dividend payout ratio is 45.66%.

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.