Victory Capital Management Inc. Acquires 786,250 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Victory Capital Management Inc. raised its stake in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 28.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,553,181 shares of the oil and gas company's stock after purchasing an additional 786,250 shares during the quarter. Victory Capital Management Inc. owned 3.58% of Helmerich & Payne worth $92,809,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Balyasny Asset Management L.P. bought a new position in Helmerich & Payne in the fourth quarter worth $28,708,000. Norges Bank bought a new position in Helmerich & Payne in the fourth quarter valued at about $21,572,000. Bank of America Corp DE lifted its holdings in Helmerich & Payne by 542.9% in 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 acquiring an additional 441,688 shares during the period. ExodusPoint Capital Management LP bought a new position in Helmerich & Payne in the fourth quarter valued at about $10,931,000. Finally, American Century Companies Inc. raised its stake in shares of Helmerich & Payne by 14.0% in the fourth quarter. American Century Companies Inc. now owns 2,658,356 shares of the oil and gas company's stock worth $85,121,000 after buying an additional 327,374 shares during the period. Institutional investors own 96.05% of the company's stock.

Helmerich & Payne Price Performance

NYSE:HP traded down $0.14 during midday trading on Monday, hitting $15.38. 1,391,277 shares of the stock were exchanged, compared to its average volume of 1,767,709. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 6.44 and a beta of 0.82. Helmerich & Payne, Inc. has a one year low of $14.65 and a one year high of $42.60. The business has a 50-day moving average price of $16.66 and a two-hundred day moving average price of $22.85. The company has a current ratio of 1.68, a quick ratio of 1.32 and a debt-to-equity ratio of 0.73.

Helmerich & Payne (NYSE:HP - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The oil and gas company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.63). The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $961.03 million. Helmerich & Payne had a net margin of 7.15% and a return on equity of 8.25%. The company's revenue was up 47.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 earnings per share. Sell-side analysts predict that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 6.50%. The ex-dividend date of this dividend is Friday, August 15th. Helmerich & Payne's payout ratio is presently 45.66%.

Analyst Ratings Changes

HP has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Morgan Stanley lowered their price target on Helmerich & Payne from $27.00 to $20.00 and set an "underweight" rating for the company in a research report on Friday, May 16th. The Goldman Sachs Group dropped their price target on shares of Helmerich & Payne from $25.00 to $17.00 and set a "sell" rating for the company in a research note on Tuesday, June 24th. Susquehanna dropped their target price on Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating for the company in a research report on Tuesday, July 1st. Finally, Citigroup reissued a "neutral" rating and set a $17.00 price target (down from $19.00) on shares of Helmerich & Payne in a research note on Thursday, June 26th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $23.10.

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.