25,512 Shares in Helmerich & Payne, Inc. $HP Bought by Versor Investments LP

Key Points

• Versor Investments LP acquired 25,512 shares of Helmerich & Payne, Inc. (NYSE:HP) valued at approximately $666,000 in the first quarter.
• Helmerich & Payne recently reported earnings of $0.22 per share, exceeding estimates and marking a 49.2% year-over-year revenue increase to $1.04 billion.
• The company announced a quarterly dividend of $0.25 per share with a yield of 5.6%, despite a payout ratio of -303.03%.

Versor Investments LP purchased a new position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 25,512 shares of the oil and gas company's stock, valued at approximately $666,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of Helmerich & Payne during the fourth quarter worth approximately $2,788,000. Principal Financial Group Inc. raised its stake in shares of Helmerich & Payne by 3.3% during the first quarter. Principal Financial Group Inc. now owns 494,813 shares of the oil and gas company's stock worth $12,925,000 after buying an additional 15,990 shares during the last quarter. Grace & White Inc. NY raised its stake in shares of Helmerich & Payne by 40.8% during the first quarter. Grace & White Inc. NY now owns 113,342 shares of the oil and gas company's stock worth $2,960,000 after buying an additional 32,856 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Helmerich & Payne by 26.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 468,757 shares of the oil and gas company's stock worth $12,422,000 after buying an additional 97,388 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Helmerich & Payne by 85.4% during the first quarter. GAMMA Investing LLC now owns 3,167 shares of the oil and gas company's stock worth $83,000 after buying an additional 1,459 shares during the last quarter. 96.05% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Sara Marie Momper sold 6,700 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $17.83, for a total transaction of $119,461.00. Following the completion of the transaction, the chief accounting officer owned 21,908 shares in the company, valued at approximately $390,619.64. This represents a 23.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.51% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on HP shares. Royal Bank Of Canada upped their target price on shares of Helmerich & Payne from $23.00 to $24.00 and gave the company a "sector perform" rating in a research note on Friday, August 8th. The Goldman Sachs Group lowered their target price on shares of Helmerich & Payne from $25.00 to $17.00 and set a "sell" rating for the company in a research note on Tuesday, June 24th. JPMorgan Chase & Co. lowered their target price on shares of Helmerich & Payne from $25.00 to $17.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Barclays lowered their target price on shares of Helmerich & Payne from $20.00 to $17.00 and set an "equal weight" rating for the company in a research note on Friday, June 20th. Finally, Susquehanna lowered their target price on shares of Helmerich & Payne from $24.00 to $23.00 and set a "positive" rating for the company in a research note on Tuesday, July 1st. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Helmerich & Payne currently has an average rating of "Reduce" and an average price target of $22.20.

Helmerich & Payne Stock Down 0.6%

Shares of HP stock traded down $0.12 during trading hours on Monday, hitting $18.80. 1,246,329 shares of the company were exchanged, compared to its average volume of 2,450,482. The business has a 50 day moving average of $16.72 and a two-hundred day moving average of $19.84. The company has a current ratio of 1.84, a quick ratio of 1.43 and a debt-to-equity ratio of 0.76. Helmerich & Payne, Inc. has a 52 week low of $14.65 and a 52 week high of $37.46. The company has a market capitalization of $1.87 billion, a PE ratio of -56.97 and a beta of 0.87.

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, topping 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 company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the firm earned $0.92 earnings per share. The firm's revenue was up 49.2% compared to the same quarter last year. Analysts anticipate that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The business 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 of this dividend is Friday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 5.3%. Helmerich & Payne's dividend payout ratio is currently -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.