Kennedy Capital Management LLC Has $12.47 Million Position in Helmerich & Payne, Inc. (NYSE:HP)

Kennedy Capital Management LLC lessened its stake in shares of Helmerich & Payne, Inc. (NYSE:HP) by 35.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 296,540 shares of the oil and gas company’s stock after selling 165,483 shares during the period. Kennedy Capital Management LLC owned 0.30% of Helmerich & Payne worth $12,472,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of HP. Headlands Technologies LLC bought a new position in Helmerich & Payne during the first quarter valued at about $33,000. Principal Securities Inc. bought a new position in Helmerich & Payne during the fourth quarter valued at about $35,000. Hexagon Capital Partners LLC grew its position in Helmerich & Payne by 514.4% during the first quarter. Hexagon Capital Partners LLC now owns 940 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 787 shares during the period. Covestor Ltd boosted its position in Helmerich & Payne by 253.4% during the first quarter. Covestor Ltd now owns 940 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 674 shares during the period. Finally, Whittier Trust Co. boosted its position in Helmerich & Payne by 94.9% during the first quarter. Whittier Trust Co. now owns 1,222 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 595 shares during the period. Institutional investors and hedge funds own 96.05% of the company’s stock.

Helmerich & Payne Trading Up 0.5 %

NYSE:HP traded up $0.19 during trading hours on Tuesday, hitting $39.37. The company had a trading volume of 2,797,178 shares, compared to its average volume of 1,301,674. The company has a market capitalization of $3.89 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 4.45 and a beta of 1.48. The stock has a 50-day moving average price of $36.50 and a 200 day moving average price of $38.25. Helmerich & Payne, Inc. has a 52 week low of $32.17 and a 52 week high of $46.55. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.12 and a quick ratio of 1.87.

Helmerich & Payne (NYSE:HP) last released its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.15. The business had revenue of $697.70 million for the quarter, compared to analysts’ expectations of $670.78 million. Helmerich & Payne had a net margin of 12.72% and a return on equity of 12.39%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 earnings per share. On average, equities research analysts predict that Helmerich & Payne, Inc. will post 3.44 EPS for the current fiscal year.

Helmerich & Payne Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, August 16th. This represents a $1.00 annualized dividend and a dividend yield of 2.54%. Helmerich & Payne’s payout ratio is 28.57%.

Analyst Ratings Changes

A number of equities analysts have weighed in on HP shares. Susquehanna cut their target price on shares of Helmerich & Payne from $52.00 to $50.00 and set a “positive” rating for the company in a research report on Friday, April 26th. Royal Bank of Canada increased their target price on shares of Helmerich & Payne from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Friday. Piper Sandler cut their target price on shares of Helmerich & Payne from $39.00 to $36.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Evercore ISI raised shares of Helmerich & Payne to a “strong-buy” rating in a research note on Friday. Finally, Bank of America lowered their target price 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Helmerich & Payne has a consensus rating of “Hold” and an average target price of $41.88.

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.