Helmerich & Payne, Inc. $HP Shares Bought by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its stake in Helmerich & Payne, owning approximately 5.52% of the company, valued at $143 million, after purchasing additional shares in the first quarter.
• Shares of Helmerich & Payne opened at $17.76 and the company reported a quarterly revenue increase of 49.2% year-over-year, with earnings per share exceeding analysts' expectations.
• The company announced a quarterly dividend of $0.25 per share, representing an annualized dividend yield of 5.6%, despite a negative payout ratio of -303.03%.

Dimensional Fund Advisors LP raised its holdings in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 1.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,483,028 shares of the oil and gas company's stock after buying an additional 71,168 shares during the quarter. Dimensional Fund Advisors LP owned about 5.52% of Helmerich & Payne worth $143,209,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LPL Financial LLC increased its holdings in shares of Helmerich & Payne by 1.9% in the fourth quarter. LPL Financial LLC now owns 21,763 shares of the oil and gas company's stock valued at $697,000 after purchasing an additional 408 shares during the period. Ellis Investment Partners LLC increased its holdings in shares of Helmerich & Payne by 4.5% in 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 purchasing an additional 558 shares during the period. Ridgewood Investments LLC increased its holdings in shares of Helmerich & Payne by 4.4% in the first quarter. Ridgewood Investments LLC now owns 13,385 shares of the oil and gas company's stock valued at $350,000 after purchasing an additional 569 shares during the period. Xponance Inc. increased its holdings in shares of Helmerich & Payne by 7.6% in the first quarter. Xponance Inc. now owns 8,294 shares of the oil and gas company's stock valued at $217,000 after purchasing an additional 587 shares during the period. Finally, Versant Capital Management Inc increased its holdings in shares of Helmerich & Payne by 104.2% in 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 purchasing an additional 867 shares during the period. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Helmerich & Payne Stock Performance

Helmerich & Payne stock traded up $0.16 during midday trading on Tuesday, hitting $18.93. 2,149,299 shares of the company were exchanged, compared to its average volume of 2,435,925. The firm has a market capitalization of $1.88 billion, a PE ratio of -57.35 and a beta of 0.87. Helmerich & Payne, Inc. has a fifty-two week low of $14.65 and a fifty-two week high of $37.46. The business has a fifty day simple moving average of $16.73 and a two-hundred day simple moving average of $19.83. 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 (NYSE:HP - Get Free Report) last posted its earnings results on Wednesday, August 6th. The oil and gas company reported $0.22 EPS 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 firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1 billion. During the same period last year, the company earned $0.92 earnings per share. Helmerich & Payne's revenue for the quarter was up 49.2% compared to the same quarter last year. On average, sell-side analysts forecast that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Friday, August 15th. Helmerich & Payne's dividend payout ratio (DPR) is presently -303.03%.

Insider Buying and Selling

In other Helmerich & Payne news, CAO Sara Marie Momper sold 6,700 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $17.83, for a total value of $119,461.00. Following the sale, the chief accounting officer directly owned 21,908 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. Insiders own 4.51% of the company's stock.

Analysts Set New Price Targets

HP has been the topic of a number of research reports. Morgan Stanley cut their price objective on Helmerich & Payne from $27.00 to $20.00 and set an "underweight" rating on the stock in a report on Friday, May 16th. TD Cowen increased their price objective on Helmerich & Payne from $26.00 to $27.00 and gave the company a "hold" rating in a report on Tuesday, August 19th. Citigroup reissued a "neutral" rating and issued a $17.00 price objective (down from $19.00) on shares of Helmerich & Payne in a report on Thursday, June 26th. Wall Street Zen lowered Helmerich & Payne from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Susquehanna dropped their target price on Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating on the stock in a report on Tuesday, July 1st. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $22.20.

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.