Petrus Trust Company LTA Invests $468,000 in Helmerich & Payne, Inc. $HP

Key Points

• Petrus Trust Company LTA has acquired 17,930 shares of Helmerich & Payne, Inc., valued at approximately $468,000, during the first quarter.
• Institutional investors collectively hold 96.05% of Helmerich & Payne's stock, with multiple hedge funds increasing their stakes significantly in the same period.
• Helmerich & Payne reported a 49.2% increase in quarterly revenue year-over-year, reaching $1.04 billion, with earnings per share of $0.22, surpassing analyst expectations.

Petrus Trust Company LTA bought a new position in Helmerich & Payne, Inc. (NYSE:HP - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 17,930 shares of the oil and gas company's stock, valued at approximately $468,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings in shares of Helmerich & Payne by 104.2% in the 1st quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company's stock worth $44,000 after purchasing an additional 867 shares during the period. Quarry LP purchased a new position in shares of Helmerich & Payne in the 1st quarter worth approximately $81,000. GAMMA Investing LLC boosted its holdings in shares of Helmerich & Payne by 85.4% in the 1st quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company's stock worth $83,000 after purchasing an additional 1,459 shares during the period. State of Wyoming boosted 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 purchasing an additional 2,801 shares during the period. Finally, CWM LLC boosted 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 purchasing an additional 1,555 shares during the period. Hedge funds and other institutional investors own 96.05% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on HP shares. The Goldman Sachs Group dropped their price objective on Helmerich & Payne from $25.00 to $17.00 and set a "sell" rating for the company in a report on Tuesday, June 24th. JPMorgan Chase & Co. dropped their price objective on Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Barclays dropped their price objective on Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating for the company in a report on Friday, June 20th. Citigroup restated a "neutral" rating and set a $17.00 price objective (down previously from $19.00) on shares of Helmerich & Payne in a report on Thursday, June 26th. Finally, Royal Bank Of Canada boosted their price objective on Helmerich & Payne from $23.00 to $24.00 and gave the company a "sector perform" rating in a report on Friday, August 8th. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $22.20.

Helmerich & Payne Stock Up 1.0%

NYSE HP traded up $0.21 on Friday, reaching $21.11. 1,690,486 shares of the stock traded hands, compared to its average volume of 1,782,476. 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 fifty day moving average price of $17.85 and a 200-day moving average price of $19.27. The company has a market cap of $2.10 billion, a price-to-earnings ratio of -63.97 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.

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 for the quarter, beating analysts' consensus estimates of $0.20 by $0.02. The business had revenue of $1.04 billion during 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%.Helmerich & Payne's revenue was up 49.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 EPS. As a group, research analysts forecast that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Tuesday, November 18th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, November 18th. Helmerich & Payne's payout ratio is presently -303.03%.

Insider Activity at Helmerich & Payne

In other 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 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. Insiders own 4.51% of the company's stock.

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.