Helmerich & Payne, Inc. $HP Position Boosted by Intech Investment Management LLC

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 stake in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 32.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc boosted its stake 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 valued at $44,000 after buying an additional 867 shares during the last quarter. Quarry LP bought a new position in Helmerich & Payne during the first quarter valued at approximately $81,000. GAMMA Investing LLC boosted its stake in Helmerich & Payne by 85.4% during the first quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company's stock valued at $83,000 after buying an additional 1,459 shares during the last quarter. State of Wyoming increased its holdings in shares of Helmerich & Payne by 102.2% in the 1st quarter. State of Wyoming now owns 5,543 shares of the oil and gas company's stock worth $145,000 after buying an additional 2,801 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Helmerich & Payne by 37.8% in the 1st quarter. CWM LLC now owns 5,671 shares of the oil and gas company's stock worth $148,000 after buying an additional 1,555 shares during the last quarter. Institutional investors own 96.05% of the company's stock.

Helmerich & Payne Stock Performance

Shares of HP stock traded down $0.66 during mid-day trading on Friday, hitting $20.57. 2,990,041 shares of the stock were exchanged, compared to its average volume of 1,677,090. The stock's fifty day simple moving average is $18.27 and its two-hundred day simple moving average is $19.15. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of -62.33 and a beta of 0.95. Helmerich & Payne, Inc. has a 12-month low of $14.65 and a 12-month high of $37.46. 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 (NYSE:HP - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.02. The firm had revenue of $1.04 billion for 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%.The business's revenue was up 49.2% on a year-over-year basis. During the same quarter last year, the company posted $0.92 earnings per share. On average, analysts forecast that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Tuesday, November 18th. Helmerich & Payne's payout ratio is presently -303.03%.

Insider Buying and Selling

In other Helmerich & Payne news, CAO Sara Marie Momper sold 6,700 shares of Helmerich & Payne stock in a transaction that occurred 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 completion of the sale, the chief accounting officer directly owned 21,908 shares of the company's stock, valued at approximately $390,619.64. The trade was a 23.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.51% of the company's stock.

Wall Street Analyst Weigh In

HP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Royal Bank Of Canada boosted their price target 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. Barclays dropped their price target on Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Friday, June 20th. Susquehanna dropped their price target on Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating on the stock in a research note on Tuesday, July 1st. Finally, Piper Sandler boosted their price objective on Helmerich & Payne from $20.00 to $21.00 and gave the company a "neutral" rating in a 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 company. According to MarketBeat.com, Helmerich & Payne has an average rating of "Reduce" and an average target price of $22.20.

About Helmerich & Payne

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.