Tcfg Wealth Management LLC Makes New $766,000 Investment in Helmerich & Payne, Inc. $HP

Key Points

• Tcfg Wealth Management LLC has made a new investment of approximately $766,000 in Helmerich & Payne, acquiring 50,536 shares in the process.
• Several institutional investors have recently increased their stakes in Helmerich & Payne, with a combined institutional ownership of 96.05% as of the latest filings.
• Helmerich & Payne's quarterly earnings surpassed expectations, reporting $1.04 billion in revenue and $0.22 earnings per share, beating analysts' estimates.

Tcfg Wealth Management LLC bought a new stake in Helmerich & Payne, Inc. (NYSE:HP - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 50,536 shares of the oil and gas company's stock, valued at approximately $766,000. Tcfg Wealth Management LLC owned 0.05% of Helmerich & Payne as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in Helmerich & Payne by 1.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,483,028 shares of the oil and gas company's stock valued at $143,209,000 after purchasing an additional 71,168 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Helmerich & Payne by 28.4% in the first quarter. Victory Capital Management Inc. now owns 3,553,181 shares of the oil and gas company's stock valued at $92,809,000 after purchasing an additional 786,250 shares during the period. American Century Companies Inc. raised its holdings in shares of Helmerich & Payne by 12.2% during the first quarter. American Century Companies Inc. now owns 2,983,840 shares of the oil and gas company's stock valued at $77,938,000 after buying an additional 325,484 shares during the last quarter. Invesco Ltd. boosted its position in shares of Helmerich & Payne by 24.7% during the first quarter. Invesco Ltd. now owns 2,704,134 shares of the oil and gas company's stock worth $70,632,000 after buying an additional 535,808 shares during the period. Finally, LSV Asset Management boosted its position in shares of Helmerich & Payne by 16.8% during the first quarter. LSV Asset Management now owns 1,504,671 shares of the oil and gas company's stock worth $39,302,000 after buying an additional 216,560 shares during the period. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on HP shares. TD Cowen raised their target price on Helmerich & Payne from $26.00 to $27.00 and gave the company a "hold" rating in a research report on Tuesday, August 19th. The Goldman Sachs Group increased their price target on Helmerich & Payne from $18.00 to $20.00 and gave the stock a "sell" rating in a research note on Monday. Zacks Research raised Helmerich & Payne to a "hold" rating in a report on Monday, August 11th. Citigroup reaffirmed a "neutral" rating and issued a $17.00 price objective (down previously from $19.00) on shares of Helmerich & Payne in a report on Thursday, June 26th. Finally, Barclays set a $25.00 target price on shares of Helmerich & Payne and gave the company an "overweight" rating in a research report on Monday, September 22nd. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Helmerich & Payne has a consensus rating of "Reduce" and an average price target of $23.30.

Insider Buying and Selling at Helmerich & Payne

In other news, CAO Sara Marie Momper sold 6,700 shares of Helmerich & Payne stock in a transaction that occurred 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 owned 21,908 shares of the company's stock, valued at $390,619.64. The trade was a 23.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 4.51% of the company's stock.

Helmerich & Payne Stock Up 2.8%

Shares of HP stock opened at $23.69 on Tuesday. Helmerich & Payne, Inc. has a 1 year low of $14.65 and a 1 year high of $37.46. The stock has a market cap of $2.36 billion, a PE ratio of -71.79 and a beta of 0.91. The business's fifty day moving average is $19.64 and its 200-day moving average is $18.85. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.43 and a current ratio of 1.84.

Helmerich & Payne (NYSE:HP - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the prior year, the firm posted $0.92 earnings per share. The company's revenue was up 49.2% on a year-over-year basis. Equities analysts expect that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Tuesday, November 18th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, November 18th. This represents a $1.00 annualized dividend and a dividend yield of 4.2%. Helmerich & Payne's dividend payout ratio (DPR) is -303.03%.

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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