Alliancebernstein L.P. Has $17.29 Million Stake in Helmerich & Payne, Inc. $HP

Key Points

• Alliancebernstein L.P. increased its stake in Helmerich & Payne, Inc. by 26.0%, now holding approximately 0.67% of the company, valued at $17.3 million.
• Several analysts have downgraded their ratings, with Citigroup and Barclays setting a target price of $17.00, reflecting a decrease from previous estimates.
• Helmerich & Payne will pay a quarterly dividend of $0.25 per share on December 2nd, representing an annualized yield of 4.8%.

Alliancebernstein L.P. increased its stake in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 26.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 661,899 shares of the oil and gas company's stock after purchasing an additional 136,499 shares during the quarter. Alliancebernstein L.P. owned approximately 0.67% of Helmerich & Payne worth $17,289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of HP. Bank of America Corp DE boosted its position in Helmerich & Payne by 542.9% during the 4th quarter. Bank of America Corp DE now owns 523,047 shares of the oil and gas company's stock worth $16,748,000 after acquiring an additional 441,688 shares during the period. Cetera Investment Advisers lifted its stake in shares of Helmerich & Payne by 32.5% in the fourth quarter. Cetera Investment Advisers now owns 19,114 shares of the oil and gas company's stock worth $612,000 after buying an additional 4,692 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in Helmerich & Payne during the fourth quarter valued at about $211,000. Janus Henderson Group PLC boosted its stake in Helmerich & Payne by 25.6% during the 4th quarter. Janus Henderson Group PLC now owns 93,720 shares of the oil and gas company's stock valued at $3,001,000 after purchasing an additional 19,130 shares during the period. Finally, Quantinno Capital Management LP acquired a new stake in shares of Helmerich & Payne in the fourth quarter worth $210,000. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on HP. The Goldman Sachs Group cut their price target on Helmerich & Payne from $25.00 to $17.00 and set a "sell" rating for the company in a report on Tuesday, June 24th. Susquehanna decreased their price target on Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating on the stock in a research note on Tuesday, July 1st. Barclays decreased their price target on Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Friday, June 20th. JPMorgan Chase & Co. cut their price objective on Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Finally, Wall Street Zen cut Helmerich & Payne from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Helmerich & Payne presently has a consensus rating of "Reduce" and an average target price of $22.20.

Helmerich & Payne Stock Up 4.4%

Helmerich & Payne stock traded up $0.91 during mid-day trading on Tuesday, reaching $21.82. The company's stock had a trading volume of 1,343,456 shares, compared to its average volume of 1,728,559. The business's 50 day simple moving average is $18.04 and its 200 day simple moving average is $19.20. Helmerich & Payne, Inc. has a 12 month low of $14.65 and a 12 month high of $37.46. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -66.12 and a beta of 0.95. 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 announced its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.22 EPS 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 company 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 posted $0.92 EPS. The company's quarterly revenue was up 49.2% on a year-over-year basis. As a group, research analysts anticipate that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

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

Insider Activity at Helmerich & Payne

In related news, CAO Sara Marie Momper sold 6,700 shares of Helmerich & Payne stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $17.83, for a total transaction of $119,461.00. Following the completion of the sale, the chief accounting officer owned 21,908 shares of the company's stock, valued at approximately $390,619.64. The trade was a 23.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.