16,000 Shares in Helmerich & Payne, Inc. $HP Purchased by Hedges Asset Management LLC

Key Points

• Hedges Asset Management LLC acquired a new position in Helmerich & Payne, Inc. by purchasing 16,000 shares, valued at approximately $243,000, during the second quarter.
• The company reported $1.04 billion in revenue for the recent quarter, a 49.2% increase year-over-year, and an EPS of $0.22, beating analysts' expectations.
• Helmerich & Payne declared a quarterly dividend of $0.25 per share, with a yield of 4.7%, to be paid on December 2nd, attracting interest from investors.

Hedges Asset Management LLC purchased 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 and Exchange Commission (SEC). The firm purchased 16,000 shares of the oil and gas company's stock, valued at approximately $243,000.

A number of other large investors have also bought and sold shares of HP. Victory Capital Management Inc. grew its holdings 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 worth $92,809,000 after purchasing an additional 786,250 shares during the period. Invesco Ltd. grew its holdings in 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 purchasing an additional 535,808 shares during the period. Bank of America Corp DE lifted its stake in shares of Helmerich & Payne by 542.9% in the fourth quarter. Bank of America Corp DE now owns 523,047 shares of the oil and gas company's stock valued at $16,748,000 after buying an additional 441,688 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Helmerich & Payne during the first quarter valued at about $10,635,000. Finally, American Century Companies Inc. grew its holdings 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 valued at $77,938,000 after buying an additional 325,484 shares during the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Helmerich & Payne Trading Down 3.9%

Shares of HP traded down $0.83 during mid-day trading on Friday, reaching $20.40. The company's stock had a trading volume of 830,459 shares, compared to its average volume of 1,968,145. The stock has a market cap of $2.03 billion, a PE ratio of -61.91 and a beta of 0.95. The company has a current ratio of 1.84, a quick ratio of 1.43 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. The company's fifty day moving average price is $18.20 and its two-hundred day moving average price is $19.19.

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 for the quarter, topping analysts' consensus estimates of $0.20 by $0.02. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1 billion. Helmerich & Payne had a negative net margin of 0.90% and a positive return on equity of 5.81%. The business's quarterly revenue was up 49.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.92 EPS. On average, analysts predict 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 Tuesday, December 2nd. Shareholders of record on Tuesday, November 18th will be issued a $0.25 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $1.00 annualized dividend and a yield of 4.9%. Helmerich & Payne's dividend payout ratio is -303.03%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on HP shares. Citigroup reiterated a "neutral" rating and set a $17.00 price objective (down from $19.00) on shares of Helmerich & Payne in a report on Thursday, June 26th. The Goldman Sachs Group reduced their price objective on shares of Helmerich & Payne from $25.00 to $17.00 and set a "sell" rating for the company in a report on Tuesday, June 24th. Wall Street Zen cut shares of Helmerich & Payne from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Barclays reduced their price objective on shares of Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating for the company in a report on Friday, June 20th. Finally, Susquehanna reduced their price objective on shares of Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating for the company in a report on Tuesday, July 1st. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Helmerich & Payne presently has an average rating of "Reduce" and a consensus target price of $22.20.

Insider Buying and Selling

In other Helmerich & Payne 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.51% of the company's stock.

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.