Grace & White Inc. NY Purchases 26,400 Shares of Helmerich & Payne, Inc. $HP

Key Points

• Grace & White Inc. NY has increased its stake in Helmerich & Payne by 23.3%, owning a total of 139,742 shares valued at approximately $2.1 million.
• Helmerich & Payne recently reported a quarterly earnings per share of $0.22, surpassing expectations, with a revenue increase of 49.2% year-over-year, reaching $1.04 billion.
• The company declared a quarterly dividend of $0.25 per share, which translates to an annualized yield of 4.6%, with the dividend payout ratio currently at -303.03%.

Grace & White Inc. NY increased its position in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 23.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 139,742 shares of the oil and gas company's stock after acquiring an additional 26,400 shares during the period. Grace & White Inc. NY owned about 0.14% of Helmerich & Payne worth $2,118,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Ellis Investment Partners LLC lifted its position in Helmerich & Payne by 4.5% during 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 in the last quarter. Ridgewood Investments LLC lifted its position in Helmerich & Payne by 4.4% during 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 in the last quarter. Xponance Inc. lifted its position in Helmerich & Payne by 7.6% during 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 in the last quarter. Radnor Capital Management LLC lifted its position in Helmerich & Payne by 1.5% during the second quarter. Radnor Capital Management LLC now owns 43,674 shares of the oil and gas company's stock valued at $662,000 after purchasing an additional 630 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in Helmerich & Payne by 9.9% during the first quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company's stock valued at $247,000 after purchasing an additional 852 shares in the last quarter. Institutional investors own 96.05% of the company's stock.

Analyst Upgrades and Downgrades

HP has been the topic of several analyst reports. Royal Bank Of Canada lifted their target price on Helmerich & Payne from $23.00 to $24.00 and gave the company a "sector perform" rating in a research report on Friday, August 8th. Zacks Research upgraded Helmerich & Payne to a "hold" rating in a research report on Monday, August 11th. Citigroup lifted their target price on Helmerich & Payne from $17.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday. Weiss Ratings restated a "sell (d+)" rating on shares of Helmerich & Payne in a research report on Wednesday. Finally, TD Cowen boosted their price objective on Helmerich & Payne from $26.00 to $27.00 and gave the company a "hold" rating in a research report on Tuesday, August 19th. Two analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $24.20.

Helmerich & Payne Price Performance

Shares of Helmerich & Payne stock opened at $21.87 on Friday. 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 company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -66.27 and a beta of 0.91. Helmerich & Payne, Inc. has a 52 week low of $14.65 and a 52 week high of $37.46. The stock's 50-day simple moving average is $20.18 and its 200-day simple moving average is $18.88.

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

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Tuesday, November 18th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.6%. The ex-dividend date is Tuesday, November 18th. Helmerich & Payne's dividend payout ratio (DPR) is currently -303.03%.

Insiders Place Their Bets

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 transaction of $119,461.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.51% of the stock is owned by corporate insiders.

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.

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