Cary Street Partners Financial LLC Makes New $467,000 Investment in Helmerich & Payne, Inc. (NYSE:HP)

Key Points

• Cary Street Partners Financial LLC has invested approximately $467,000 in Helmerich & Payne, acquiring 17,887 shares of the company in the first quarter.
• Helmerich & Payne reported a 49.2% year-over-year increase in revenue for the last quarter, totaling $1.04 billion, and announced a quarterly dividend of $0.25 with a yield of 5.8%.
• Despite recent growth, analyst price targets for Helmerich & Payne have been lowered by several brokerages, with recommendations ranging from "sell" to "hold."

Cary Street Partners Financial LLC purchased a new position in Helmerich & Payne, Inc. (NYSE:HP - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,887 shares of the oil and gas company's stock, valued at approximately $467,000.

A number of other institutional investors also recently bought and sold shares of the stock. Summit Investment Advisors Inc. lifted its holdings in Helmerich & Payne by 4.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,113 shares of the oil and gas company's stock valued at $324,000 after buying an additional 395 shares in the last quarter. LPL Financial LLC increased its stake in shares of Helmerich & Payne by 1.9% during the fourth quarter. LPL Financial LLC now owns 21,763 shares of the oil and gas company's stock valued at $697,000 after buying an additional 408 shares during the period. Ellis Investment Partners LLC increased its stake in shares of 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 stake in shares of 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. Finally, Xponance Inc. increased its stake in shares of 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. 96.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Morgan Stanley cut their price target on Helmerich & Payne from $27.00 to $20.00 and set an "underweight" rating on the stock in a research note on Friday, May 16th. Barclays lowered 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 report on Friday, June 20th. Citigroup restated a "neutral" rating and issued a $17.00 price objective (down from $19.00) on shares of Helmerich & Payne in a research report on Thursday, June 26th. Royal Bank Of Canada boosted their price objective on Helmerich & Payne from $23.00 to $24.00 and gave the stock a "sector perform" rating in a research note on Friday. Finally, Wall Street Zen lowered Helmerich & Payne from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $22.00.

Helmerich & Payne Stock Up 1.7%

Shares of HP traded up $0.29 during midday trading on Monday, hitting $17.58. The company had a trading volume of 3,645,090 shares, compared to its average volume of 2,000,040. The company's 50-day simple moving average is $16.58 and its 200-day simple moving average is $20.90. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.43 and a current ratio of 1.84. The firm has a market capitalization of $1.75 billion, a P/E ratio of -53.28 and a beta of 0.87. 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 issued its earnings results on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share 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 for the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the company earned $0.92 EPS. The business's quarterly revenue was up 49.2% on a year-over-year basis. As a group, sell-side analysts expect that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Announces Dividend

The company 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.00 annualized dividend and a yield of 5.7%. Helmerich & Payne's payout ratio is -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.