Eads & Heald Wealth Management Takes Position in Helmerich & Payne, Inc. $HP

Key Points

• Eads & Heald Wealth Management acquired a new position in Helmerich & Payne, buying 24,850 shares valued at approximately $377,000 in Q2.
• Helmerich & Payne reported $1.04 billion in revenue for the last quarter, up 49.2% year-over-year, and exceeded analysts' earnings estimates with $0.22 EPS.
• The company declared a quarterly dividend of $0.25 per share, resulting in a 4.3% annualized yield, with an ex-dividend date set for November 18th.

Eads & Heald Wealth Management bought a new position in Helmerich & Payne, Inc. (NYSE:HP - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,850 shares of the oil and gas company's stock, valued at approximately $377,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HP. Victory Capital Management Inc. lifted its holdings in shares of Helmerich & Payne by 28.4% in the first quarter. Victory Capital Management Inc. now owns 3,553,181 shares of the oil and gas company's stock valued at $92,809,000 after buying an additional 786,250 shares during the period. Invesco Ltd. lifted its holdings in Helmerich & Payne by 24.7% in the 1st quarter. Invesco Ltd. now owns 2,704,134 shares of the oil and gas company's stock valued at $70,632,000 after acquiring an additional 535,808 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in Helmerich & Payne in the 1st quarter valued at about $10,635,000. American Century Companies Inc. boosted its position in shares of Helmerich & Payne by 12.2% during the 1st quarter. American Century Companies Inc. now owns 2,983,840 shares of the oil and gas company's stock valued at $77,938,000 after purchasing an additional 325,484 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Helmerich & Payne in the 1st quarter worth approximately $6,486,000. 96.05% of the stock is owned by institutional investors.

Helmerich & Payne Stock Up 0.6%

Helmerich & Payne stock opened at $23.04 on Monday. Helmerich & Payne, Inc. has a twelve month low of $14.65 and a twelve month high of $37.46. 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 cap of $2.29 billion, a PE ratio of -69.83 and a beta of 0.91. The firm's 50 day moving average price is $19.51 and its two-hundred day moving average price is $18.86.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the business posted $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, research analysts predict that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Tuesday, November 18th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, November 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.3%. Helmerich & Payne's dividend payout ratio (DPR) is currently -303.03%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Zacks Research raised shares of Helmerich & Payne to a "hold" rating in a research note on Monday, August 11th. Citigroup reissued a "neutral" rating and issued a $17.00 target price (down from $19.00) on shares of Helmerich & Payne in a research report on Thursday, June 26th. Susquehanna cut their price target on shares of Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating on the stock in a report on Tuesday, July 1st. Piper Sandler lifted their price objective on shares of Helmerich & Payne from $20.00 to $21.00 and gave the stock a "neutral" rating in a research report on Thursday, August 14th. Finally, TD Cowen increased their target price on Helmerich & Payne from $26.00 to $27.00 and gave the company a "hold" rating in a report on Tuesday, August 19th. Two analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $23.00.

Insider Activity

In related news, CAO Sara Marie Momper sold 6,700 shares of the company's stock in a transaction on 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 directly owned 21,908 shares in the company, valued at approximately $390,619.64. This represents a 23.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 4.51% of the company's stock.

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.

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