Energy Income Partners LLC Acquires 18,363 Shares of Helmerich & Payne, Inc. $HP

Key Points

• Energy Income Partners LLC increased its stake in Helmerich & Payne by 10.6%, acquiring 18,363 additional shares to reach a total of 191,519 shares, valued at approximately $5 million.
• Institutional investors and hedge funds own 96.05% of Helmerich & Payne's stock, indicating strong interest from large investment firms.
• Helmerich & Payne reported $1.04 billion in revenue for the latest quarter, a significant increase of 49.2% year-over-year, surpassing analyst expectations.

Energy Income Partners LLC grew its stake in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 10.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 191,519 shares of the oil and gas company's stock after purchasing an additional 18,363 shares during the quarter. Energy Income Partners LLC owned about 0.19% of Helmerich & Payne worth $5,002,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HP. Balyasny Asset Management L.P. bought a new stake in shares of Helmerich & Payne in the 4th quarter valued at $28,708,000. Victory Capital Management Inc. grew its stake in 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 acquiring an additional 786,250 shares during the period. Invesco Ltd. increased its holdings in shares of Helmerich & Payne by 24.7% in the first quarter. Invesco Ltd. now owns 2,704,134 shares of the oil and gas company's stock worth $70,632,000 after acquiring an additional 535,808 shares in the last quarter. Bank of America Corp DE raised its position in shares of Helmerich & Payne by 542.9% during the fourth quarter. Bank of America Corp DE now owns 523,047 shares of the oil and gas company's stock worth $16,748,000 after purchasing an additional 441,688 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Helmerich & Payne by 12.2% during the first quarter. American Century Companies Inc. now owns 2,983,840 shares of the oil and gas company's stock worth $77,938,000 after purchasing an additional 325,484 shares during the period. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HP. Susquehanna decreased their price objective on Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating for the company in a research report on Tuesday, July 1st. Royal Bank Of Canada upped their price target on shares of Helmerich & Payne from $23.00 to $24.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. TD Cowen increased their price objective on shares of Helmerich & Payne from $26.00 to $27.00 and gave the stock a "hold" rating in a research report on Tuesday, August 19th. The Goldman Sachs Group cut their price objective on shares of Helmerich & Payne from $25.00 to $17.00 and set a "sell" rating on the stock in a research report on Tuesday, June 24th. Finally, Citigroup reaffirmed a "neutral" rating and issued a $17.00 target price (down from $19.00) on shares of Helmerich & Payne in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $22.20.

Insider Activity

In related news, CAO Sara Marie Momper sold 6,700 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $17.83, for a total transaction of $119,461.00. Following the sale, the chief accounting officer 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.51% of the company's stock.

Helmerich & Payne Stock Performance

Shares of HP stock opened at $20.92 on Friday. The company's fifty day simple moving average is $16.92 and its 200-day simple moving average is $19.69. The company has a quick ratio of 1.43, a current ratio of 1.84 and a debt-to-equity ratio of 0.76. The firm has a market cap of $2.08 billion, a PE ratio of -63.41 and a beta of 0.87. Helmerich & Payne, Inc. has a 12 month low of $14.65 and a 12 month high of $37.46.

Helmerich & Payne (NYSE:HP - Get Free Report) last released its earnings results on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the firm earned $0.92 earnings per share. The firm's revenue for the quarter was up 49.2% compared to the same quarter last year. Equities research analysts expect that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a $0.25 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 4.8%. 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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