Helmerich & Payne, Inc. $HP Shares Acquired by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP has significantly increased its stake in Helmerich & Payne, Inc. by 302.6%, now owning 24,882 shares valued at approximately $650,000.
• Helmerich & Payne reported Q1 earnings of $0.22 per share, surpassing estimates, with a year-over-year revenue increase of 49.2% to $1.04 billion.
• The company announced a quarterly dividend of $0.25 per share, providing an annualized yield of 5.3%, with the dividend payout ratio currently at -303.03%.

Quantbot Technologies LP raised its position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 302.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,882 shares of the oil and gas company's stock after purchasing an additional 18,701 shares during the period. Quantbot Technologies LP's holdings in Helmerich & Payne were worth $650,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Versor Investments LP purchased a new position in Helmerich & Payne during the 1st quarter valued at about $666,000. CacheTech Inc. boosted its position in Helmerich & Payne by 22.6% during the 1st quarter. CacheTech Inc. now owns 28,979 shares of the oil and gas company's stock valued at $757,000 after acquiring an additional 5,339 shares in the last quarter. Raymond James Financial Inc. boosted its position in shares of Helmerich & Payne by 58.2% in the 1st quarter. Raymond James Financial Inc. now owns 137,763 shares of the oil and gas company's stock worth $3,598,000 after purchasing an additional 50,682 shares in the last quarter. Adams Wealth Management boosted its position in shares of Helmerich & Payne by 22.6% in the 1st quarter. Adams Wealth Management now owns 28,979 shares of the oil and gas company's stock worth $757,000 after purchasing an additional 5,339 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of 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 worth $77,938,000 after purchasing an additional 325,484 shares in the last quarter. Hedge funds and other institutional investors own 96.05% of the company's stock.

Helmerich & Payne Trading Up 2.2%

Shares of NYSE:HP traded up $0.44 during trading on Thursday, reaching $20.21. 1,988,998 shares of the company were exchanged, compared to its average volume of 1,999,023. The firm has a market capitalization of $2.01 billion, a PE ratio of -61.23 and a beta of 0.87. The business's fifty day simple moving average is $16.78 and its 200-day simple moving average is $19.83. 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.

Helmerich & Payne (NYSE:HP - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1 billion. Helmerich & Payne had a negative net margin of 0.90% and a positive return on equity of 5.81%. Helmerich & Payne's revenue was up 49.2% compared to the same quarter last year. During the same period last year, the company posted $0.92 earnings per share. On average, research analysts anticipate that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Announces Dividend

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

Insider Transactions at Helmerich & Payne

In other Helmerich & Payne news, CAO Sara Marie Momper sold 6,700 shares of Helmerich & Payne stock in a transaction on 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.51% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Citigroup restated a "neutral" rating and issued a $17.00 price objective (down from $19.00) on shares of Helmerich & Payne in a research note on Thursday, June 26th. Zacks Research upgraded Helmerich & Payne to a "hold" rating in a research note on Monday, August 11th. Susquehanna dropped their target price on shares of Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating for the company in a report on Tuesday, July 1st. Finally, Morgan Stanley dropped their price objective on shares of Helmerich & Payne from $27.00 to $20.00 and set an "underweight" rating for the company in a report on Friday, May 16th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Helmerich & Payne currently has an average rating of "Reduce" and a consensus target price of $22.20.

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.