Helmerich & Payne, Inc. $HP Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC raised its position in shares of Helmerich & Payne, Inc. (NYSE:HP) by 55.9% in the second quarter, Holdings Channel.com reports. The fund owned 264,048 shares of the oil and gas company’s stock after acquiring an additional 94,625 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Helmerich & Payne were worth $4,003,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in shares of Helmerich & Payne by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 5,483,028 shares of the oil and gas company’s stock valued at $143,209,000 after purchasing an additional 71,168 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Helmerich & Payne by 28.4% in the first 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 purchasing an additional 786,250 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Helmerich & Payne by 12.2% in the first 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 purchasing an additional 325,484 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Helmerich & Payne by 24.7% in the first quarter. Invesco Ltd. now owns 2,704,134 shares of the oil and gas company’s stock valued at $70,632,000 after purchasing an additional 535,808 shares during the last quarter. Finally, LSV Asset Management increased its holdings in shares of Helmerich & Payne by 16.8% in the first quarter. LSV Asset Management now owns 1,504,671 shares of the oil and gas company’s stock valued at $39,302,000 after purchasing an additional 216,560 shares during the last quarter. Institutional investors and hedge funds own 96.05% of the company’s stock.

Analyst Ratings Changes

HP has been the subject of several recent research reports. Piper Sandler increased their price target on Helmerich & Payne from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, August 14th. Royal Bank Of Canada increased their price objective 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. TD Cowen increased their price objective on Helmerich & Payne from $26.00 to $27.00 and gave the stock a “hold” rating in a research report on Tuesday, August 19th. Barclays lowered their price objective on Helmerich & Payne from $20.00 to $17.00 and set an “equal weight” rating for the company in a research report on Friday, June 20th. Finally, Zacks Research upgraded Helmerich & Payne to a “hold” rating in a research report on Monday, August 11th. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $22.20.

Insider Activity

In other news, CAO Sara Marie Momper sold 6,700 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $17.83, for a total value of $119,461.00. Following the sale, the chief accounting officer owned 21,908 shares in the company, valued at approximately $390,619.64. This represents a 23.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.51% of the company’s stock.

Helmerich & Payne Trading Down 3.1%

Shares of HP opened at $20.57 on Monday. The company has a market capitalization of $2.05 billion, a PE ratio of -62.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.43 and a current ratio of 1.84. The stock has a fifty day moving average of $18.27 and a two-hundred day moving average of $19.07. Helmerich & Payne, Inc. has a fifty-two week low of $14.65 and a fifty-two week high of $37.46.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1 billion. Helmerich & Payne had a positive return on equity of 5.81% and a negative net margin of 0.90%.The business’s revenue for the quarter was up 49.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 EPS. As a group, analysts forecast that Helmerich & Payne, Inc. will post 2.93 EPS for the current year.

Helmerich & Payne Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Tuesday, November 18th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.9%. 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.