Nuveen LLC Acquires Shares of 248,321 Helmerich & Payne, Inc. $HP

Key Points

• Nuveen LLC has acquired 248,321 shares of Helmerich & Payne, Inc. (NYSE: HP) valued at approximately $6.5 million, representing about 0.25% of the company's stock as of its latest filing.
• Wall Street analysts have revised their price targets on Helmerich & Payne shares, with most setting a target of $17.00, indicating a mixed outlook with ratings ranging from "Buy" to "Sell."
• The company recently announced a quarterly dividend of $0.25 per share, translating to an annualized yield of 5.3%, despite a negative net margin in its latest earnings report.

Nuveen LLC bought a new position in Helmerich & Payne, Inc. (NYSE:HP - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 248,321 shares of the oil and gas company's stock, valued at approximately $6,486,000. Nuveen LLC owned about 0.25% of Helmerich & Payne at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc lifted its holdings in shares of Helmerich & Payne by 104.2% in the first quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company's stock worth $44,000 after acquiring an additional 867 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Helmerich & Payne by 85.4% in the first quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company's stock worth $83,000 after acquiring an additional 1,459 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Helmerich & Payne by 120.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,533 shares of the oil and gas company's stock worth $113,000 after acquiring an additional 1,932 shares during the last quarter. CWM LLC lifted its holdings in shares of Helmerich & Payne by 37.8% in the first 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 during the last quarter. Finally, Quantinno Capital Management LP bought a new stake in shares of Helmerich & Payne during the fourth quarter worth about $210,000. Institutional investors own 96.05% of the company's stock.

Insider Buying and Selling at Helmerich & Payne

In other news, CAO Sara Marie Momper sold 6,700 shares of the business's stock in a transaction dated 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 sale, the chief accounting officer 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 SEC, which is accessible through this link. Company insiders own 4.51% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Royal Bank Of Canada boosted their price target on Helmerich & Payne from $23.00 to $24.00 and gave the stock a "sector perform" rating in a report on Friday, August 8th. TD Cowen boosted their price target on Helmerich & Payne from $26.00 to $27.00 and gave the stock a "hold" rating in a report on Tuesday, August 19th. JPMorgan Chase & Co. reduced their price target on Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Morgan Stanley lowered their price objective 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. Finally, Citigroup restated a "neutral" rating and set a $17.00 target price (down previously from $19.00) on shares of Helmerich & Payne in a research report on Thursday, June 26th. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $22.20.

Helmerich & Payne Stock Performance

NYSE:HP traded up $0.44 on Thursday, reaching $20.21. 1,988,998 shares of the company's stock were exchanged, compared to its average volume of 1,999,023. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.43. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -61.23 and a beta of 0.87. Helmerich & Payne, Inc. has a 52 week low of $14.65 and a 52 week high of $37.46. The stock has a fifty day simple moving average of $16.78 and a 200-day simple moving average of $19.83.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced 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. Helmerich & Payne had a positive return on equity of 5.81% and a negative net margin of 0.90%.The firm had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1 billion. During the same period in the prior year, the business posted $0.92 earnings per share. The company's revenue was up 49.2% on a year-over-year basis. As a group, sell-side analysts predict that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current year.

Helmerich & Payne Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 4.9%. Helmerich & Payne's dividend payout ratio is -303.03%.

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.