Magnetar Financial LLC Has $628,000 Holdings in Helmerich & Payne, Inc. $HP

Key Points

• Magnetar Financial LLC reduced its stake in Helmerich & Payne, Inc. by 38.0% during the first quarter, leaving it with 24,025 shares valued at approximately $628,000.
• Helmerich & Payne's shares increased by 3.5%, with a current market price of $20.92 and a market cap of $2.08 billion.
• The company reported a quarterly earnings per share (EPS) of $0.22, surpassing the consensus estimate of $0.20, while its quarterly revenue rose by 49.2% year-over-year.

Magnetar Financial LLC decreased its stake in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 38.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,025 shares of the oil and gas company's stock after selling 14,729 shares during the quarter. Magnetar Financial LLC's holdings in Helmerich & Payne were worth $628,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of HP. Balyasny Asset Management L.P. acquired a new stake in Helmerich & Payne during the fourth quarter valued at $28,708,000. Victory Capital Management Inc. boosted its position in Helmerich & Payne by 28.4% during the first quarter. Victory Capital Management Inc. now owns 3,553,181 shares of the oil and gas company's stock valued at $92,809,000 after purchasing an additional 786,250 shares during the last quarter. Invesco Ltd. boosted its position in Helmerich & Payne by 24.7% during the first quarter. Invesco Ltd. now owns 2,704,134 shares of the oil and gas company's stock valued at $70,632,000 after purchasing an additional 535,808 shares during the last quarter. Bank of America Corp DE boosted its position in Helmerich & Payne by 542.9% during 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 purchasing an additional 441,688 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in 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 purchasing an additional 325,484 shares during the last quarter. Institutional investors and hedge funds own 96.05% of the company's stock.

Helmerich & Payne Price Performance

Shares of Helmerich & Payne stock traded down $0.61 during trading on Friday, hitting $20.21. 1,402,518 shares of the company's stock traded hands, compared to its average volume of 1,992,433. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.43. The firm's fifty day moving average price is $17.31 and its 200 day moving average price is $19.57. Helmerich & Payne, Inc. has a twelve month low of $14.65 and a twelve month high of $37.46. The company has a market cap of $2.01 billion, a PE ratio of -61.23 and a beta of 0.95.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued its earnings results on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share for the quarter, beating 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 business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the business earned $0.92 EPS. The firm's revenue was up 49.2% on a year-over-year basis. Analysts forecast that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Insider Buying and Selling at Helmerich & Payne

In other 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 sale, the chief accounting officer directly owned 21,908 shares in the company, valued at approximately $390,619.64. The trade was a 23.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.51% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Royal Bank Of Canada raised their price target on shares of Helmerich & Payne from $23.00 to $24.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. Zacks Research upgraded shares of Helmerich & Payne to a "hold" rating in a report on Monday, August 11th. JPMorgan Chase & Co. cut their price target on shares of Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Susquehanna cut their price target on shares of Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating on the stock in a report on Tuesday, July 1st. Finally, Morgan Stanley cut their price target on shares of Helmerich & Payne from $27.00 to $20.00 and set an "underweight" rating on the stock in a report on Friday, May 16th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Helmerich & Payne presently has a consensus rating of "Reduce" and an average target price of $22.20.

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.