Intech Investment Management LLC Raises Stake in Helmerich & Payne, Inc. $HP

Key Points

• Intech Investment Management LLC increased its stake in Helmerich & Payne, Inc. by 32.1% to own 90,428 shares worth approximately $2.36 million as of the latest SEC filing.
• The company's quarterly earnings exceeded forecasts, reporting $0.22 earnings per share on revenue of $1.04 billion, representing a 49.2% increase compared to the same quarter last year.
• Helmerich & Payne recently declared a quarterly dividend of $0.25 per share, leading to an annualized dividend yield of 4.8%, with the ex-dividend date set for November 18th.

Intech Investment Management LLC grew its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 32.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,428 shares of the oil and gas company's stock after buying an additional 21,958 shares during the quarter. Intech Investment Management LLC owned approximately 0.09% of Helmerich & Payne worth $2,362,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its position in shares of Helmerich & Payne by 3.3% in the 1st quarter. Principal Financial Group Inc. now owns 494,813 shares of the oil and gas company's stock valued at $12,925,000 after acquiring an additional 15,990 shares during the period. Grace & White Inc. NY grew its position in shares of Helmerich & Payne by 40.8% in the 1st quarter. Grace & White Inc. NY now owns 113,342 shares of the oil and gas company's stock valued at $2,960,000 after acquiring an additional 32,856 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Helmerich & Payne by 26.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 468,757 shares of the oil and gas company's stock valued at $12,422,000 after acquiring an additional 97,388 shares during the period. GAMMA Investing LLC grew its position in shares of Helmerich & Payne by 85.4% in the 1st 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. Finally, Janus Henderson Group PLC grew its position in shares of Helmerich & Payne by 25.6% in the 4th quarter. Janus Henderson Group PLC now owns 93,720 shares of the oil and gas company's stock valued at $3,001,000 after acquiring an additional 19,130 shares during the period. Institutional investors own 96.05% of the company's stock.

Helmerich & Payne Price Performance

Shares of NYSE HP traded up $0.41 during mid-day trading on Thursday, reaching $21.25. The company had a trading volume of 1,551,657 shares, compared to its average volume of 1,975,142. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.43 and a current ratio of 1.84. Helmerich & Payne, Inc. has a one year low of $14.65 and a one year high of $37.46. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -64.39 and a beta of 0.95. The business's 50-day simple moving average is $18.12 and its 200 day simple moving average is $19.21.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its earnings results 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. The business had revenue of $1.04 billion during 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%.Helmerich & Payne's revenue for the quarter was up 49.2% compared to the same quarter last year. During the same period last year, the company earned $0.92 EPS. On average, research analysts predict that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Tuesday, November 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, November 18th. Helmerich & Payne's dividend payout ratio (DPR) is -303.03%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HP. JPMorgan Chase & Co. decreased their price objective on shares of Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Royal Bank Of Canada increased their price objective on shares of Helmerich & Payne from $23.00 to $24.00 and gave the company a "sector perform" rating in a research report on Friday, August 8th. Zacks Research raised shares of Helmerich & Payne to a "hold" rating in a research report on Monday, August 11th. TD Cowen boosted their target price on shares of Helmerich & Payne from $26.00 to $27.00 and gave the company a "hold" rating in a research report on Tuesday, August 19th. Finally, Piper Sandler boosted their target price 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 research analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target of $22.20.

Insider Buying and Selling at Helmerich & Payne

In other Helmerich & Payne 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 value of $119,461.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.51% of the company's stock.

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.