Deutsche Bank AG Boosts Stock Position in Helmerich & Payne, Inc. (NYSE:HP)

Key Points

• Deutsche Bank AG increased its stake in Helmerich & Payne by 16.4%, owning approximately 353,326 shares valued at $9,229,000 after purchasing additional shares in Q1.
• Helmerich & Payne has seen a significant shift in analyst ratings, with multiple firms lowering their price targets and a consensus rating of "Hold" with an average price target of $22.10.
• The company reported $1.04 billion in revenue for its latest quarter, which beat expectations, and announced a quarterly dividend of $0.25 per share, representing an annualized yield of 5.7%.

Deutsche Bank AG lifted its position in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 16.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 353,326 shares of the oil and gas company's stock after purchasing an additional 49,882 shares during the quarter. Deutsche Bank AG owned about 0.36% of Helmerich & Payne worth $9,229,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of HP. LPL Financial LLC raised its stake in shares of Helmerich & Payne by 1.9% during the 4th 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 last quarter. Wells Fargo & Company MN grew its holdings in Helmerich & Payne by 3.3% during the fourth quarter. Wells Fargo & Company MN now owns 163,845 shares of the oil and gas company's stock worth $5,246,000 after acquiring an additional 5,207 shares during the period. Raymond James Financial Inc. acquired a new stake in Helmerich & Payne during the fourth quarter worth about $2,788,000. Sterling Capital Management LLC raised its position in Helmerich & Payne by 817.5% during the fourth quarter. Sterling Capital Management LLC now owns 3,046 shares of the oil and gas company's stock valued at $98,000 after acquiring an additional 2,714 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its holdings in Helmerich & Payne by 4.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 10,113 shares of the oil and gas company's stock valued at $324,000 after acquiring an additional 395 shares during the period. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. TD Cowen dropped their price objective on shares of Helmerich & Payne from $28.00 to $26.00 and set a "hold" rating on the stock in a research note on Friday, May 9th. Morgan Stanley dropped their price target on shares of Helmerich & Payne from $27.00 to $20.00 and set an "underweight" rating on the stock in a research report on Friday, May 16th. JPMorgan Chase & Co. decreased their price objective on shares of Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Wall Street Zen lowered shares of Helmerich & Payne from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Barclays cut their price target on Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating for the company in a research note on Friday, June 20th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $22.10.

Helmerich & Payne Trading Down 3.7%

Shares of HP opened at $17.67 on Friday. The firm's fifty day moving average is $16.72 and its two-hundred day moving average is $20.52. The stock has a market cap of $1.76 billion, a PE ratio of -53.55 and a beta of 0.87. 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 52-week low of $14.65 and a 52-week high of $37.46.

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 earnings per share (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 company had revenue of $1.04 billion during the quarter, compared to analysts' expectations of $1 billion. During the same quarter in the prior year, the company earned $0.92 EPS. Helmerich & Payne's revenue was up 49.2% compared to the same quarter last year. Research analysts forecast that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, August 15th. This represents a $1.00 dividend on an annualized basis and a yield of 5.7%. Helmerich & Payne's dividend payout ratio (DPR) is presently -303.03%.

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.

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