Helmerich & Payne, Inc. $HP Position Increased by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management L L P NC increased its holdings in Helmerich & Payne, Inc. by 55.9% during the second quarter, acquiring an additional 94,625 shares and totaling 264,048 shares worth approximately $4 million.
• Helmerich & Payne announced a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 4.9%, with a payout ratio of -303.03%.
• The company reported earnings of $0.22 per share for the last quarter, exceeding analysts' expectations, while its revenue increased by 49.2% year-over-year.

Wedge Capital Management L L P NC lifted its position in shares of Helmerich & Payne, Inc. (NYSE:HP - Free Report) by 55.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 264,048 shares of the oil and gas company's stock after acquiring an additional 94,625 shares during the period. Wedge Capital Management L L P NC owned approximately 0.27% of Helmerich & Payne worth $4,003,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in HP. Radnor Capital Management LLC lifted its holdings in shares of Helmerich & Payne by 1.5% in the 2nd quarter. Radnor Capital Management LLC now owns 43,674 shares of the oil and gas company's stock worth $662,000 after acquiring an additional 630 shares during the last quarter. Hedges Asset Management LLC purchased a new stake in shares of Helmerich & Payne during the second quarter worth about $243,000. Intech Investment Management LLC raised its stake in shares of Helmerich & Payne by 32.1% during the 1st quarter. Intech Investment Management LLC now owns 90,428 shares of the oil and gas company's stock worth $2,362,000 after buying an additional 21,958 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Helmerich & Payne by 34.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 213,445 shares of the oil and gas company's stock worth $5,575,000 after acquiring an additional 54,758 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of Helmerich & Payne by 9.9% in the 1st quarter. Empowered Funds LLC now owns 9,459 shares of the oil and gas company's stock valued at $247,000 after buying an additional 852 shares during the period. 96.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on HP. Zacks Research upgraded Helmerich & Payne to a "hold" rating in a research note on Monday, August 11th. JPMorgan Chase & Co. cut their target price on 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 lifted their target price on Helmerich & Payne from $23.00 to $24.00 and gave the stock a "sector perform" rating in a research report on Friday, August 8th. Barclays set a $25.00 price objective on Helmerich & Payne and gave the stock an "overweight" rating in a report on Monday. Finally, TD Cowen increased their target price on Helmerich & Payne from $26.00 to $27.00 and gave the stock a "hold" rating in a report on Tuesday, August 19th. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $23.00.

Insiders Place Their Bets

In related news, CAO Sara Marie Momper sold 6,700 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $17.83, for a total transaction 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. This represents a 23.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.51% of the stock is owned by corporate insiders.

Helmerich & Payne Stock Up 3.6%

NYSE HP traded up $0.73 during trading on Monday, reaching $21.27. 2,341,864 shares of the company's stock traded hands, compared to its average volume of 1,729,370. The company's 50 day simple moving average is $18.36 and its two-hundred day simple moving average is $19.04. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of -64.45 and a beta of 0.94. 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 posted its earnings results on Wednesday, August 6th. The oil and gas company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.02. The company had revenue of $1.04 billion for the quarter, compared to analysts' expectations 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 for the quarter was up 49.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.92 earnings per share. As a group, sell-side analysts forecast that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

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

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.