Helmerich & Payne, Inc. $HP Shares Sold by Aptus Capital Advisors LLC

Key Points

• Aptus Capital Advisors LLC reduced its stake in Helmerich & Payne by 41.6%, now owning approximately 0.10% of the company worth $2.5 million after selling nearly 69,000 shares.
• Helmerich & Payne reported a quarterly earnings per share of $0.22, exceeding analysts' expectations, with a 49.2% year-over-year increase in revenue.
• The company announced a $0.25 quarterly dividend, translating to an annualized yield of 5.6%, despite a negative payout ratio of -303.03%.

Aptus Capital Advisors LLC lowered its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 41.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 96,354 shares of the oil and gas company's stock after selling 68,686 shares during the period. Aptus Capital Advisors LLC owned about 0.10% of Helmerich & Payne worth $2,517,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its position in Helmerich & Payne by 104.2% during the first quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company's stock worth $44,000 after acquiring an additional 867 shares during the last quarter. Sterling Capital Management LLC raised its position in Helmerich & Payne by 817.5% during the fourth quarter. Sterling Capital Management LLC now owns 3,046 shares of the oil and gas company's stock worth $98,000 after acquiring an additional 2,714 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Helmerich & Payne by 85.4% during the 1st quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company's stock worth $83,000 after purchasing an additional 1,459 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of 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 buying an additional 1,932 shares during the last quarter. Finally, CWM LLC raised its position in shares of 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 buying an additional 1,555 shares during the last quarter. Institutional investors and hedge funds own 96.05% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on HP. Barclays cut 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 research report on Friday, June 20th. Citigroup reissued a "neutral" rating and issued a $17.00 price objective (down previously from $19.00) on shares of Helmerich & Payne in a research report on Thursday, June 26th. Susquehanna cut their price objective on shares of Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating for the company in a research report on Tuesday, July 1st. The Goldman Sachs Group cut their price objective on shares of Helmerich & Payne from $25.00 to $17.00 and set a "sell" rating for the company in a research report on Tuesday, June 24th. Finally, Piper Sandler boosted their price objective on shares of Helmerich & Payne from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Thursday, August 14th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Helmerich & Payne presently has an average rating of "Reduce" and a consensus target price of $22.20.

Insiders Place Their Bets

In related news, CAO Sara Marie Momper sold 6,700 shares of the firm's stock in a transaction on 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 directly owned 21,908 shares of the company's stock, valued at approximately $390,619.64. This trade represents a 23.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.51% of the company's stock.

Helmerich & Payne Trading Down 0.8%

Shares of Helmerich & Payne stock traded down $0.1550 during trading hours on Monday, hitting $18.7650. The company's stock had a trading volume of 664,204 shares, compared to its average volume of 1,991,479. Helmerich & Payne, Inc. has a 1-year low of $14.65 and a 1-year high of $37.46. The business has a fifty day moving average of $16.70 and a 200 day moving average of $19.89. The company has a market capitalization of $1.87 billion, a PE ratio of -56.86 and a beta of 0.87. 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 (NYSE:HP - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $1 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. The business's quarterly revenue was up 49.2% compared to the same quarter last year. As a group, equities analysts forecast that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 5.3%. Helmerich & Payne's dividend payout ratio is presently -303.03%.

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.