GAMMA Investing LLC Raises Stock Position in Helmerich & Payne, Inc. (NYSE:HP)

GAMMA Investing LLC lifted its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 29.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,618 shares of the oil and gas company’s stock after buying an additional 592 shares during the quarter. GAMMA Investing LLC’s holdings in Helmerich & Payne were worth $110,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of HP. Principal Securities Inc. acquired a new position in shares of Helmerich & Payne in the 4th quarter valued at $35,000. Creekmur Asset Management LLC acquired a new position in shares of Helmerich & Payne in the 4th quarter valued at $60,000. Neo Ivy Capital Management acquired a new position in shares of Helmerich & Payne in the 4th quarter valued at $176,000. Quadrant Capital Group LLC increased its holdings in shares of Helmerich & Payne by 12.7% in the 4th quarter. Quadrant Capital Group LLC now owns 5,548 shares of the oil and gas company’s stock valued at $201,000 after acquiring an additional 625 shares during the period. Finally, AlphaMark Advisors LLC increased its holdings in shares of Helmerich & Payne by 5.8% in the 4th quarter. AlphaMark Advisors LLC now owns 6,339 shares of the oil and gas company’s stock valued at $230,000 after acquiring an additional 346 shares during the period. Hedge funds and other institutional investors own 96.05% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on HP. Citigroup lifted their target price on shares of Helmerich & Payne from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Susquehanna dropped their price objective on shares of Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating on the stock in a research note on Friday, April 26th. Piper Sandler dropped their price objective on shares of Helmerich & Payne from $44.00 to $39.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Finally, Benchmark reissued a “hold” rating on shares of Helmerich & Payne in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $42.00.

Helmerich & Payne Price Performance

Shares of NYSE HP opened at $33.98 on Friday. The firm has a market capitalization of $3.35 billion, a P/E ratio of 9.71, a PEG ratio of 3.73 and a beta of 1.47. Helmerich & Payne, Inc. has a one year low of $32.17 and a one year high of $46.55. The company’s fifty day moving average is $37.75 and its two-hundred day moving average is $38.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.92 and a current ratio of 2.16.

Helmerich & Payne (NYSE:HP) last issued its earnings results on Thursday, April 25th. The oil and gas company reported $0.84 EPS for the quarter, missing the consensus estimate of $0.85 by ($0.01). The company had revenue of $687.94 million for the quarter, compared to analysts’ expectations of $682.51 million. Helmerich & Payne had a return on equity of 13.21% and a net margin of 12.84%. Helmerich & Payne’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 earnings per share. Analysts forecast that Helmerich & Payne, Inc. will post 3.46 EPS for the current fiscal year.

Helmerich & Payne Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.00 annualized dividend and a dividend yield of 2.94%. Helmerich & Payne’s dividend payout ratio is presently 28.57%.

Insider Buying and Selling

In related news, CFO Mark W. Smith sold 16,000 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $40.49, for a total value of $647,840.00. Following the sale, the chief financial officer now directly owns 144,870 shares in the company, valued at approximately $5,865,786.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Cara M. Hair sold 9,910 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $40.22, for a total value of $398,580.20. Following the sale, the senior vice president now directly owns 137,764 shares in the company, valued at approximately $5,540,868.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark W. Smith sold 16,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $40.49, for a total transaction of $647,840.00. Following the completion of the transaction, the chief financial officer now owns 144,870 shares in the company, valued at $5,865,786.30. The disclosure for this sale can be found here. Insiders own 4.38% of the company’s stock.

Helmerich & Payne Company 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.