AlphaQuest LLC Grows Stake in Helmerich & Payne, Inc. $HP

AlphaQuest LLC boosted its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 18.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,226 shares of the oil and gas company’s stock after purchasing an additional 4,605 shares during the quarter. AlphaQuest LLC’s holdings in Helmerich & Payne were worth $458,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in Helmerich & Payne by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,483,028 shares of the oil and gas company’s stock worth $143,209,000 after purchasing an additional 71,168 shares during the period. Victory Capital Management Inc. boosted its position in Helmerich & Payne by 28.4% during the 1st 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 acquiring an additional 786,250 shares in the last quarter. American Century Companies Inc. boosted its position in Helmerich & Payne by 12.2% during the 1st 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 acquiring an additional 325,484 shares in the last quarter. Invesco Ltd. boosted its position in Helmerich & Payne by 24.7% during the 1st quarter. Invesco Ltd. now owns 2,704,134 shares of the oil and gas company’s stock valued at $70,632,000 after acquiring an additional 535,808 shares in the last quarter. Finally, LSV Asset Management boosted its position in Helmerich & Payne by 16.8% during the 1st quarter. LSV Asset Management now owns 1,504,671 shares of the oil and gas company’s stock valued at $39,302,000 after acquiring an additional 216,560 shares in the last quarter. 96.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Helmerich & Payne news, CAO Sara Marie Momper sold 6,700 shares of Helmerich & Payne stock in a transaction dated Monday, August 18th. The stock was 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 of the company’s stock, valued at approximately $390,619.64. The trade was a 23.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.51% of the company’s stock.

Helmerich & Payne Stock Up 5.2%

Helmerich & Payne stock opened at $26.65 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.84 and a quick ratio of 1.43. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -80.75 and a beta of 0.91. Helmerich & Payne, Inc. has a 1-year low of $14.65 and a 1-year high of $37.46. The business has a fifty day moving average price of $22.02 and a 200-day moving average price of $18.97.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter last year, the firm earned $0.92 EPS. The business’s quarterly revenue was up 49.2% on a year-over-year basis. Equities research analysts forecast that Helmerich & Payne, Inc. will post 2.93 EPS for the current fiscal year.

Helmerich & Payne Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders 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 dividend on an annualized basis and a yield of 3.8%. Helmerich & Payne’s payout ratio is currently -303.03%.

Wall Street Analysts Forecast Growth

HP has been the topic of several recent research reports. Citigroup increased their target price on Helmerich & Payne from $17.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, October 8th. The Goldman Sachs Group increased their target price on Helmerich & Payne from $18.00 to $20.00 and gave the company a “sell” rating in a research report on Monday, October 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Helmerich & Payne in a research report on Wednesday, October 8th. Royal Bank Of Canada increased their target price on Helmerich & Payne from $23.00 to $24.00 and gave the company a “sector perform” rating in a research report on Friday, August 8th. Finally, Piper Sandler raised their price objective on Helmerich & Payne from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, August 14th. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $24.20.

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.