GAMMA Investing LLC Boosts Position in Helmerich & Payne, Inc. $HP

GAMMA Investing LLC boosted its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 29.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 4,092 shares of the oil and gas company’s stock after buying an additional 925 shares during the period. GAMMA Investing LLC’s holdings in Helmerich & Payne were worth $62,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of HP. Versant Capital Management Inc raised its holdings in Helmerich & Payne by 104.2% in the first quarter. Versant Capital Management Inc now owns 1,699 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 867 shares during the period. Quarry LP purchased a new position in Helmerich & Payne in the first quarter valued at approximately $81,000. State of Wyoming raised its holdings in Helmerich & Payne by 102.2% in the first quarter. State of Wyoming now owns 5,543 shares of the oil and gas company’s stock valued at $145,000 after buying an additional 2,801 shares during the period. CWM LLC raised its holdings in Helmerich & Payne by 37.8% in the first quarter. CWM LLC now owns 5,671 shares of the oil and gas company’s stock valued at $148,000 after buying an additional 1,555 shares during the period. Finally, Park Avenue Securities LLC raised its holdings in Helmerich & Payne by 21.5% in the first quarter. Park Avenue Securities LLC now owns 7,925 shares of the oil and gas company’s stock valued at $207,000 after buying an additional 1,400 shares during the period. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Analyst Ratings Changes

HP has been the topic of several research reports. Barclays set a $25.00 price target on shares of Helmerich & Payne and gave the company an “overweight” rating in a report on Monday, September 22nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Helmerich & Payne in a research report on Saturday, September 27th. Citigroup reissued a “neutral” rating and set a $17.00 target price (down from $19.00) on shares of Helmerich & Payne in a research report on Thursday, June 26th. Royal Bank Of Canada boosted their target price on shares of Helmerich & Payne from $23.00 to $24.00 and gave the stock a “sector perform” rating in a research report on Friday, August 8th. Finally, Susquehanna reduced their target price on shares of Helmerich & Payne from $24.00 to $23.00 and set a “positive” rating on the stock in a research report on Tuesday, July 1st. Two analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $23.00.

Helmerich & Payne Stock Up 0.6%

HP stock opened at $23.04 on Friday. 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 1-year low of $14.65 and a 1-year high of $37.46. The firm has a fifty day moving average price of $19.51 and a two-hundred day moving average price of $18.95. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of -69.83 and a beta of 0.91.

Helmerich & Payne (NYSE:HP) last released its earnings results 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 negative net margin of 0.90% and a positive return on equity of 5.81%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The firm’s revenue for the quarter was up 49.2% compared to the same quarter last year. Research analysts predict that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Tuesday, November 18th will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, November 18th. This represents a $1.00 annualized dividend and a yield of 4.3%. Helmerich & Payne’s payout ratio is presently -303.03%.

Insiders Place Their Bets

In other Helmerich & Payne news, CAO Sara Marie Momper sold 6,700 shares of the business’s 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 sale, the chief accounting officer owned 21,908 shares in the company, valued at $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 is available at this link. 4.51% of the stock is currently owned by insiders.

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.