LSV Asset Management Cuts Stake in Helmerich & Payne, Inc. $HP

LSV Asset Management decreased its position in Helmerich & Payne, Inc. (NYSE:HP) by 6.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,410,971 shares of the oil and gas company’s stock after selling 93,700 shares during the period. LSV Asset Management owned about 1.42% of Helmerich & Payne worth $21,390,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in HP. Grace & White Inc. NY boosted its holdings in Helmerich & Payne by 23.3% in the 2nd quarter. Grace & White Inc. NY now owns 139,742 shares of the oil and gas company’s stock valued at $2,118,000 after purchasing an additional 26,400 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Helmerich & Payne by 7.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 59,223 shares of the oil and gas company’s stock valued at $897,000 after buying an additional 4,158 shares during the period. Abel Hall LLC purchased a new stake in shares of Helmerich & Payne in the second quarter valued at approximately $163,000. Tcfg Wealth Management LLC purchased a new stake in shares of Helmerich & Payne in the second quarter valued at approximately $766,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Helmerich & Payne during the first quarter worth $626,000. 96.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on HP shares. Zacks Research upgraded shares of Helmerich & Payne to a “hold” rating in a research report on Monday, August 11th. Barclays set a $25.00 price objective on shares of Helmerich & Payne and gave the stock an “overweight” rating in a report on Monday, September 22nd. TD Cowen upped their target price on shares of Helmerich & Payne from $26.00 to $27.00 and gave the stock a “hold” rating in a research report on Tuesday, August 19th. Weiss Ratings upgraded shares of Helmerich & Payne from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. Finally, Citigroup lifted their price target on shares of Helmerich & Payne from $17.00 to $26.00 and gave the company a “neutral” rating in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Helmerich & Payne currently has a consensus rating of “Hold” and an average price target of $24.20.

Helmerich & Payne Price Performance

Shares of NYSE HP opened at $26.60 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.43 and a debt-to-equity ratio of 0.76. The company’s 50-day moving average price is $23.95 and its 200 day moving average price is $19.65. Helmerich & Payne, Inc. has a 52 week low of $14.65 and a 52 week high of $37.30. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of -80.59 and a beta of 0.94.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Monday, November 17th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.27). The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $972.79 million. Helmerich & Payne had a negative net margin of 0.90% and a positive return on equity of 5.81%. The firm’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same period last year, the company earned $0.76 EPS. As a group, research analysts forecast that Helmerich & Payne, Inc. will post 2.93 earnings per share for the current fiscal year.

Helmerich & Payne Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Tuesday, November 18th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Tuesday, November 18th. 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.