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

A number of other institutional investors have also added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its holdings in Helmerich & Payne by 147.4% during the 1st quarter. AQR Capital Management LLC now owns 254,119 shares of the oil and gas company's stock worth $6,638,000 after purchasing an additional 151,413 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Helmerich & Payne in the 1st quarter valued at about $10,635,000. Royal Bank of Canada raised its holdings in shares of Helmerich & Payne by 4.4% in the 1st quarter. Royal Bank of Canada now owns 104,180 shares of the oil and gas company's stock valued at $2,721,000 after acquiring an additional 4,394 shares in the last quarter. Energy Income Partners LLC raised its holdings in shares of Helmerich & Payne by 10.6% in the 1st quarter. Energy Income Partners LLC now owns 191,519 shares of the oil and gas company's stock valued at $5,002,000 after acquiring an additional 18,363 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of Helmerich & Payne in the 1st quarter valued at about $81,000. Hedge funds and other institutional investors own 96.05% of the company's stock.

Helmerich & Payne Price Performance

Shares of Helmerich & Payne stock traded up $0.21 during trading on Friday, hitting $21.11. 1,690,486 shares of the stock traded hands, compared to its average volume of 1,782,476. 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 stock has a market cap of $2.10 billion, a price-to-earnings ratio of -63.97 and a beta of 0.95. The firm's fifty day moving average is $17.85 and its 200-day moving average is $19.32. Helmerich & Payne, Inc. has a 52 week low of $14.65 and a 52 week high of $37.46.

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 the consensus estimate of $0.20 by $0.02. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1 billion. Helmerich & Payne had a positive return on equity of 5.81% and a negative net margin of 0.90%.The company's revenue was up 49.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.92 EPS. Research analysts expect that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

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 dividend of $0.25 per share. The ex-dividend date is Tuesday, November 18th. This represents a $1.00 annualized dividend and a dividend yield of 4.7%. Helmerich & Payne's dividend payout ratio is -303.03%.

Insider Transactions at Helmerich & Payne

In related 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 transaction, the chief accounting officer directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.51% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on the company. Zacks Research raised Helmerich & Payne to a "hold" rating in a report on Monday, August 11th. Royal Bank Of Canada raised their price target on Helmerich & Payne from $23.00 to $24.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. Wall Street Zen cut Helmerich & Payne from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. TD Cowen raised their price target on Helmerich & Payne from $26.00 to $27.00 and gave the company a "hold" rating in a report on Tuesday, August 19th. Finally, Barclays lowered their price target on Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating on the stock in a report on Friday, June 20th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $22.20.

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.