Sprott Inc. Raises Holdings in Helmerich & Payne, Inc. $HP

Key Points

• Sprott Inc. increased its holdings in Helmerich & Payne, Inc. by 15.4%, now owning approximately 684,273 shares worth about $17.87 million.
• Helmerich & Payne reported quarterly earnings of $0.22 EPS, exceeding estimates, with a year-over-year revenue increase of 49.2%.
• Despite positive earnings, analysts have lowered their price targets on Helmerich & Payne, with ratings ranging from "buy" to "sell" among various financial institutions.

Sprott Inc. increased its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 15.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 684,273 shares of the oil and gas company's stock after purchasing an additional 91,204 shares during the period. Helmerich & Payne makes up about 1.0% of Sprott Inc.'s holdings, making the stock its 29th biggest position. Sprott Inc. owned 0.69% of Helmerich & Payne worth $17,873,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in Helmerich & Payne by 104.2% in the first quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company's stock valued at $44,000 after acquiring an additional 867 shares during the period. GAMMA Investing LLC grew its stake in Helmerich & Payne by 85.4% in the first quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company's stock valued at $83,000 after acquiring an additional 1,459 shares during the period. Tower Research Capital LLC TRC grew its stake in Helmerich & Payne by 120.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,533 shares of the oil and gas company's stock valued at $113,000 after acquiring an additional 1,932 shares during the period. CWM LLC grew its stake in Helmerich & Payne by 37.8% in the first quarter. CWM LLC now owns 5,671 shares of the oil and gas company's stock valued at $148,000 after acquiring an additional 1,555 shares during the period. Finally, Quantinno Capital Management LP acquired a new stake in Helmerich & Payne in the fourth quarter valued at approximately $210,000. Institutional investors and hedge funds own 96.05% of the company's stock.

Insiders Place Their Bets

In other Helmerich & Payne 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 value 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 represents a 23.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.51% of the stock is owned by corporate insiders.

Helmerich & Payne Stock Performance

HP stock traded up $0.68 during midday trading on Wednesday, hitting $19.63. The company's stock had a trading volume of 727,681 shares, compared to its average volume of 1,987,762. The stock's 50-day moving average price is $16.73 and its 200 day moving average price is $19.83. The company has a quick ratio of 1.43, a current ratio of 1.84 and a debt-to-equity ratio of 0.76. Helmerich & Payne, Inc. has a 1 year low of $14.65 and a 1 year high of $37.46. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of -59.47 and a beta of 0.87.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. The business had revenue of $1.04 billion for 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 business's revenue was up 49.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.92 earnings per share. On average, equities analysts forecast that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Friday, August 15th. Helmerich & Payne's payout ratio is presently -303.03%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HP. Piper Sandler raised their price objective on Helmerich & Payne from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Thursday, August 14th. Royal Bank Of Canada raised their price objective on Helmerich & Payne from $23.00 to $24.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. TD Cowen raised their price objective on Helmerich & Payne from $26.00 to $27.00 and gave the company a "hold" rating in a research note on Tuesday, August 19th. The Goldman Sachs Group cut their target price on 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, Susquehanna cut their target price on Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating on the stock in a research report on Tuesday, July 1st. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Helmerich & Payne 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.