Jacobs Levy Equity Management Inc. Takes Position in Helmerich & Payne, Inc. $HP

Key Points

• Jacobs Levy Equity Management Inc. purchased a new stake in Helmerich & Payne, acquiring 56,740 shares valued at approximately $1.48 million, which gives it a 0.06% ownership of the company.
• Helmerich & Payne reported a 49.2% year-over-year revenue increase to $1.04 billion and exceeded EPS expectations by $0.02, with a current profitability forecast of 2.93 EPS for the fiscal year.
• The company recently announced a quarterly dividend of $0.25 per share, reflecting a 4.8% yield, with a payout ratio of -303.03% due to its current financial performance.

Jacobs Levy Equity Management Inc. purchased a new stake in Helmerich & Payne, Inc. (NYSE:HP - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 56,740 shares of the oil and gas company's stock, valued at approximately $1,482,000. Jacobs Levy Equity Management Inc. owned approximately 0.06% of Helmerich & Payne at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in Helmerich & Payne by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,483,028 shares of the oil and gas company's stock valued at $143,209,000 after purchasing an additional 71,168 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Helmerich & Payne by 28.4% in the 1st 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 in the last quarter. American Century Companies Inc. increased its holdings in Helmerich & Payne by 12.2% in the 1st 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 in the last quarter. Invesco Ltd. increased its holdings in Helmerich & Payne by 24.7% in the 1st 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 in the last quarter. Finally, LSV Asset Management increased its holdings in Helmerich & Payne by 16.8% in the 1st quarter. LSV Asset Management now owns 1,504,671 shares of the oil and gas company's stock valued at $39,302,000 after purchasing an additional 216,560 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HP. JPMorgan Chase & Co. lowered their target price 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. Piper Sandler raised their target price on Helmerich & Payne from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Thursday, August 14th. Citigroup restated a "neutral" rating and set a $17.00 target price (down from $19.00) on shares of Helmerich & Payne in a research note on Thursday, June 26th. TD Cowen raised their target price on Helmerich & Payne from $26.00 to $27.00 and gave the company a "hold" rating in a research note on Tuesday, August 19th. Finally, Barclays lowered their target price on Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating for the company in a research note on Friday, June 20th. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Reduce" and an average price target of $22.20.

Helmerich & Payne Stock Performance

NYSE HP traded down $0.11 during trading hours on Monday, reaching $20.97. The company's stock had a trading volume of 1,533,090 shares, compared to its average volume of 1,983,630. The company has a current ratio of 1.84, a quick ratio of 1.43 and a debt-to-equity ratio of 0.76. The business has a 50-day simple moving average of $17.85 and a 200 day simple moving average of $19.22. Helmerich & Payne, Inc. has a 52 week low of $14.65 and a 52 week high of $37.46. The stock has a market cap of $2.09 billion, a PE ratio of -63.55 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 (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1 billion. During the same quarter last year, the company posted $0.92 earnings per share. Helmerich & Payne's revenue was up 49.2% on a year-over-year basis. Equities 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 announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Tuesday, November 18th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $1.00 dividend on an annualized basis and a yield of 4.8%. Helmerich & Payne's dividend payout ratio (DPR) is currently -303.03%.

Insider Transactions at Helmerich & Payne

In other Helmerich & Payne news, CAO Sara Marie Momper sold 6,700 shares of the firm's stock in a transaction dated 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 owned 21,908 shares of the company's stock, valued at $390,619.64. This trade represents a 23.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.51% of the stock is owned by corporate insiders.

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.