Caxton Associates LLP Buys Shares of 25,474 Helmerich & Payne, Inc. $HP

Key Points

• Caxton Associates LLP invested $665,000 in Helmerich & Payne, acquiring 25,474 shares in the first quarter.
• Helmerich & Payne recently declared a quarterly dividend of $0.25 per share, which is scheduled to be paid on December 2nd, reflecting a 4.8% dividend yield.
• Helmerich & Payne reported $1.04 billion in revenue for the last quarter, exceeding analysts' expectations, indicating a 49.2% increase compared to the same period last year.

Caxton Associates LLP bought a new stake in Helmerich & Payne, Inc. (NYSE:HP - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 25,474 shares of the oil and gas company's stock, valued at approximately $665,000.

Other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. grew its position in shares of Helmerich & Payne by 3.3% in the 1st quarter. Principal Financial Group Inc. now owns 494,813 shares of the oil and gas company's stock valued at $12,925,000 after buying an additional 15,990 shares during the last quarter. Grace & White Inc. NY boosted its stake in 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 worth $2,960,000 after purchasing an additional 32,856 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in 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 purchasing an additional 97,388 shares during the period. GAMMA Investing LLC boosted its stake in Helmerich & Payne by 85.4% during the 1st quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company's stock worth $83,000 after purchasing an additional 1,459 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in Helmerich & Payne by 25.6% during the 4th quarter. Janus Henderson Group PLC now owns 93,720 shares of the oil and gas company's stock worth $3,001,000 after purchasing an additional 19,130 shares during the period. 96.05% of the stock is owned by hedge funds and other institutional investors.

Helmerich & Payne Price Performance

Shares of NYSE HP traded down $0.38 during midday trading on Wednesday, hitting $21.39. The company had a trading volume of 184,267 shares, compared to its average volume of 1,969,757. The company has a quick ratio of 1.43, a current ratio of 1.84 and a debt-to-equity ratio of 0.76. Helmerich & Payne, Inc. has a twelve month low of $14.65 and a twelve month high of $37.46. The business has a 50-day simple moving average of $18.04 and a two-hundred day simple moving average of $19.20. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of -64.68 and a beta of 0.95.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. Helmerich & Payne had a negative net margin of 0.90% and a positive return on equity of 5.81%. The firm had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1 billion. During the same quarter last year, the business earned $0.92 earnings per share. The business's revenue for the quarter was up 49.2% compared to the same quarter last year. Equities research analysts anticipate that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Investors of record on Tuesday, November 18th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $1.00 annualized dividend and a dividend yield of 4.7%. Helmerich & Payne's dividend payout ratio (DPR) is -303.03%.

Insider Activity at Helmerich & Payne

In related news, CAO Sara Marie Momper sold 6,700 shares of the firm's 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 $390,619.64. This trade represents a 23.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.51% of the stock is owned by company insiders.

Analyst Ratings Changes

HP has been the subject of a number of recent research reports. Wall Street Zen cut shares of Helmerich & Payne from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. The Goldman Sachs Group decreased 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 note on Tuesday, June 24th. JPMorgan Chase & Co. decreased their price target on shares of Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. TD Cowen increased their price target on shares of Helmerich & Payne from $26.00 to $27.00 and gave the stock a "hold" rating in a research note on Tuesday, August 19th. Finally, Royal Bank Of Canada raised their target price 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. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Helmerich & Payne has an average rating of "Reduce" and an average target price of $22.20.

About Helmerich & Payne

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.