Lmcg Investments LLC Lowers Stock Position in Helmerich & Payne, Inc. $HP

Key Points

• Lmcg Investments LLC reduced its stake in Helmerich & Payne by 22.6%, now holding 93,055 shares valued at approximately $1.41 million.
• Helmerich & Payne reported a revenue increase of 49.2% year-over-year, with earnings per share of $0.22, surpassing analyst expectations.
• The company declared a quarterly dividend of $0.25 to be paid on December 2nd, with a 4.6% yield and a payout ratio of -303.03%.

Lmcg Investments LLC lessened its holdings in Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 22.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,055 shares of the oil and gas company's stock after selling 27,109 shares during the quarter. Lmcg Investments LLC owned 0.09% of Helmerich & Payne worth $1,411,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in HP. GAMMA Investing LLC boosted its holdings in Helmerich & Payne by 29.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,092 shares of the oil and gas company's stock valued at $62,000 after purchasing an additional 925 shares in the last quarter. Quarry LP purchased a new stake in shares of Helmerich & Payne during the 1st quarter worth approximately $81,000. State of Wyoming boosted its stake in shares of Helmerich & Payne by 102.2% during the 1st quarter. State of Wyoming now owns 5,543 shares of the oil and gas company's stock worth $145,000 after acquiring an additional 2,801 shares in the last quarter. CWM LLC boosted its stake in shares of Helmerich & Payne by 37.8% during the 1st quarter. CWM LLC now owns 5,671 shares of the oil and gas company's stock worth $148,000 after acquiring an additional 1,555 shares in the last quarter. Finally, Abel Hall LLC purchased a new stake in shares of Helmerich & Payne during the 2nd quarter worth approximately $163,000. Hedge funds and other institutional investors own 96.05% of the company's stock.

Helmerich & Payne Trading Down 5.9%

Shares of HP opened at $21.87 on Friday. The stock has a fifty day moving average of $20.18 and a two-hundred day moving average of $18.83. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.43 and a current ratio of 1.84. The company has a market capitalization of $2.17 billion, a PE ratio of -66.27 and a beta of 0.91. Helmerich & Payne, Inc. has a fifty-two week low of $14.65 and a fifty-two week high of $37.46.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued its quarterly 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. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate 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 was up 49.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.92 EPS. As a group, analysts forecast that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Announces Dividend

The firm also recently declared 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 is Tuesday, November 18th. This represents a $1.00 annualized dividend and a yield of 4.6%. Helmerich & Payne's payout ratio is -303.03%.

Wall Street Analyst Weigh In

HP has been the topic of several research analyst reports. Citigroup boosted their price target on Helmerich & Payne from $17.00 to $26.00 and gave the stock a "neutral" rating in a research note on Wednesday. Weiss Ratings reissued a "sell (d+)" rating on shares of Helmerich & Payne in a research note on Wednesday. TD Cowen boosted their price target on Helmerich & Payne from $26.00 to $27.00 and gave the stock a "hold" rating in a research note on Tuesday, August 19th. Zacks Research raised Helmerich & Payne to a "hold" rating in a research note on Monday, August 11th. Finally, The Goldman Sachs Group upped their target price on Helmerich & Payne from $18.00 to $20.00 and gave the company a "sell" rating in a research note on Monday, October 6th. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Helmerich & Payne has a consensus rating of "Reduce" and a consensus target price of $24.20.

Insiders Place Their Bets

In other Helmerich & Payne news, CAO Sara Marie Momper sold 6,700 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $17.83, for a total value of $119,461.00. Following the completion of the transaction, 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 SEC, which is accessible through this link. Company insiders own 4.51% of the company's stock.

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.

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