Quantbot Technologies LP Buys 108,226 Shares of Helmerich & Payne, Inc. (NYSE:HP)

Quantbot Technologies LP increased its holdings in shares of Helmerich & Payne, Inc. (NYSE:HP) by 3,222.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,584 shares of the oil and gas company’s stock after buying an additional 108,226 shares during the period. Quantbot Technologies LP owned 0.11% of Helmerich & Payne worth $4,033,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Alberta Investment Management Corp bought a new stake in Helmerich & Payne in the fourth quarter valued at approximately $1,206,000. Gendell Jeffrey L boosted its holdings in Helmerich & Payne by 44.9% during the fourth quarter. Gendell Jeffrey L now owns 405,776 shares of the oil and gas company’s stock worth $14,697,000 after purchasing an additional 125,671 shares during the last quarter. UniSuper Management Pty Ltd acquired a new position in Helmerich & Payne during the first quarter worth $1,065,000. Russell Investments Group Ltd. boosted its holdings in Helmerich & Payne by 10.3% during the first quarter. Russell Investments Group Ltd. now owns 153,022 shares of the oil and gas company’s stock worth $6,436,000 after purchasing an additional 14,347 shares during the last quarter. Finally, Wedge Capital Management L L P NC lifted its stake in Helmerich & Payne by 13.1% in the second quarter. Wedge Capital Management L L P NC now owns 188,402 shares of the oil and gas company’s stock valued at $6,809,000 after acquiring an additional 21,852 shares during the last quarter. 96.05% of the stock is owned by institutional investors.

Helmerich & Payne Stock Performance

NYSE:HP opened at $30.89 on Tuesday. The company has a fifty day moving average of $34.99 and a 200-day moving average of $37.36. The firm has a market capitalization of $3.05 billion, a P/E ratio of 8.83, a P/E/G ratio of 3.29 and a beta of 1.42. The company has a quick ratio of 1.87, a current ratio of 2.12 and a debt-to-equity ratio of 0.19. Helmerich & Payne, Inc. has a twelve month low of $29.46 and a twelve month high of $46.24.

Helmerich & Payne (NYSE:HP) last announced its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.15. The business had revenue of $697.70 million during the quarter, compared to analyst estimates of $670.78 million. Helmerich & Payne had a net margin of 12.72% and a return on equity of 12.39%. Helmerich & Payne’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.09 EPS. As a group, sell-side analysts anticipate that Helmerich & Payne, Inc. will post 3.57 EPS for the current year.

Helmerich & Payne Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, 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 3.24%. The ex-dividend date is Monday, November 18th. Helmerich & Payne’s dividend payout ratio is 28.57%.

Wall Street Analyst Weigh In

A number of analysts have commented on HP shares. Royal Bank of Canada increased their price target on shares of Helmerich & Payne from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Benchmark reaffirmed a “hold” rating on shares of Helmerich & Payne in a research report on Monday, August 5th. Bank of America reduced their price objective on shares of Helmerich & Payne from $42.50 to $40.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Citigroup reduced their price objective on shares of Helmerich & Payne from $41.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Piper Sandler reduced their price target on shares of Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Helmerich & Payne has a consensus rating of “Hold” and an average target price of $40.88.

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.