Abner Herrman & Brock LLC Takes Position in Helmerich & Payne, Inc. (HP)

Abner Herrman & Brock LLC purchased a new stake in Helmerich & Payne, Inc. (NYSE:HP) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,000 shares of the oil and gas company’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of HP. Summit Trail Advisors LLC raised its stake in Helmerich & Payne by 8,098.5% during the 1st quarter. Summit Trail Advisors LLC now owns 109,368 shares of the oil and gas company’s stock valued at $109,000 after purchasing an additional 108,034 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in Helmerich & Payne during the 2nd quarter valued at $134,000. Viking Fund Management LLC acquired a new stake in Helmerich & Payne during the 2nd quarter valued at $159,000. Independent Advisor Alliance acquired a new stake in Helmerich & Payne during the 2nd quarter valued at $207,000. Finally, Pratt Collard Advisory Partners LLC acquired a new stake in Helmerich & Payne during the 3rd quarter valued at $208,000. 91.99% of the stock is currently owned by institutional investors.

HP has been the topic of several recent analyst reports. ValuEngine raised shares of Helmerich & Payne from a “hold” rating to a “buy” rating in a research note on Monday, July 30th. Jefferies Financial Group raised shares of Helmerich & Payne from a “hold” rating to a “buy” rating in a research note on Wednesday, June 27th. B. Riley raised shares of Helmerich & Payne from a “neutral” rating to a “buy” rating and boosted their target price for the company from $68.00 to $83.00 in a research note on Monday, September 24th. Zacks Investment Research upgraded shares of Helmerich & Payne from a “hold” rating to a “buy” rating and set a $81.00 price target on the stock in a report on Tuesday, October 9th. Finally, Piper Jaffray Companies set a $67.00 price target on shares of Helmerich & Payne and gave the company a “hold” rating in a report on Sunday, July 29th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $72.27.

In related news, CEO John W. Lindsay sold 30,000 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $70.00, for a total value of $2,100,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Chapman Paula Marshall sold 11,309 shares of the company’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $65.13, for a total transaction of $736,555.17. Following the completion of the sale, the director now owns 14,874 shares of the company’s stock, valued at $968,743.62. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

Shares of Helmerich & Payne stock traded down $0.12 on Friday, hitting $66.29. 57,631 shares of the company traded hands, compared to its average volume of 1,276,007. The company has a quick ratio of 2.57, a current ratio of 2.97 and a debt-to-equity ratio of 0.11. Helmerich & Payne, Inc. has a 12-month low of $50.64 and a 12-month high of $75.02. The stock has a market cap of $7.41 billion, a P/E ratio of -52.24 and a beta of 1.36.

Helmerich & Payne (NYSE:HP) last posted its quarterly earnings results on Wednesday, July 25th. The oil and gas company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.04). The company had revenue of $648.87 million for the quarter, compared to analysts’ expectations of $617.06 million. Helmerich & Payne had a net margin of 19.70% and a negative return on equity of 0.37%. The company’s revenue was up 30.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.25) earnings per share. On average, equities research analysts expect that Helmerich & Payne, Inc. will post 0.1 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 12th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend is Thursday, November 8th. Helmerich & Payne’s dividend payout ratio is presently -223.62%.

About Helmerich & Payne

Helmerich & Payne, Inc primarily engages in drilling oil and gas wells for exploration and production companies. The company operates through U.S. Land, Offshore, and International Land segments. The U.S. Land segment drills primarily in Colorado, Louisiana, Ohio, Oklahoma, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia, and Wyoming.

Read More: Outstanding Shares and The Effect on Share Price

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Institutional Ownership by Quarter for Helmerich & Payne (NYSE:HP)

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