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

Several other hedge funds and other institutional investors have also bought and sold shares of HP. Raymond James Financial Inc. bought a new stake in Helmerich & Payne in the fourth quarter valued at $2,788,000. First Trust Advisors LP boosted its stake in Helmerich & Payne by 43.3% in the fourth quarter. First Trust Advisors LP now owns 264,688 shares of the oil and gas company's stock valued at $8,475,000 after acquiring an additional 80,041 shares during the last quarter. MetLife Investment Management LLC boosted its stake in Helmerich & Payne by 5.8% in the fourth quarter. MetLife Investment Management LLC now owns 58,993 shares of the oil and gas company's stock valued at $1,889,000 after acquiring an additional 3,211 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in 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 valued at $113,000 after acquiring an additional 1,932 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Helmerich & Payne by 23.1% in the fourth quarter. Hsbc Holdings PLC now owns 41,213 shares of the oil and gas company's stock valued at $1,324,000 after acquiring an additional 7,741 shares during the last quarter. Institutional investors and hedge funds own 96.05% of the company's stock.

Helmerich & Payne Stock Performance

Shares of HP traded up $0.70 on Friday, reaching $20.92. The company's stock had a trading volume of 2,134,043 shares, compared to its average volume of 2,435,499. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.43. Helmerich & Payne, Inc. has a 12-month low of $14.65 and a 12-month high of $37.46. The stock has a market capitalization of $2.08 billion, a P/E ratio of -63.41 and a beta of 0.87. The stock's 50 day simple moving average is $16.92 and its two-hundred day simple moving average is $19.69.

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. Helmerich & Payne had a negative net margin of 0.90% and a positive return on equity of 5.81%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The company's revenue for the quarter was up 49.2% on a year-over-year basis. Research analysts forecast that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.8%. The ex-dividend date was Friday, August 15th. Helmerich & Payne's dividend payout ratio is presently -303.03%.

Insider Activity at Helmerich & Payne

In other news, CAO Sara Marie Momper sold 6,700 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $17.83, for a total transaction of $119,461.00. Following the transaction, the chief accounting officer owned 21,908 shares in the company, valued at $390,619.64. This represents a 23.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 4.51% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on HP shares. Susquehanna dropped their price target on shares of Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating on the stock in a research note on Tuesday, July 1st. JPMorgan Chase & Co. decreased their price target on shares of Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Royal Bank Of Canada increased their target price on shares of Helmerich & Payne from $23.00 to $24.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. Barclays reduced their target price on shares of Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating on the stock in a report on Friday, June 20th. Finally, Citigroup reissued a "neutral" rating and set a $17.00 price target (down previously from $19.00) on shares of Helmerich & Payne in a research report on Thursday, June 26th. One investment 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's stock. According to MarketBeat, Helmerich & Payne currently has a consensus rating of "Reduce" and a consensus price target 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.